ArmInfo. From October 26 to 30, dollar transactions on the Armenian interbank currency market declined, while ruble transactions began to rise. Meanwhile, euro transactions have been suspended for the third week. Specifically, dollar transactions reversed from a 2.2-fold increase to a 32% decline, while ruble transactions, conversely, reversed from a 14.5% decline to a 7% increase. This allowed the weekly volume of ruble transactions to maintain its dominance over dollar transactions, with the gap increasing from 2x to 3.1x.
Concurrently, in the intrabank currency market during the reporting week (October 26-30, 2026 compared to October 19-23, 2026), dollar purchases increased while the decline in sales accelerated. Euro transactions saw sales increase while the decline in purchases accelerated. For ruble transactions, the emerging decline in purchases was accompanied by an acceleration in sales growth.
As a result, from October 26 to 30 of this year, The dram began to strengthen against the dollar, from 360.5 to 360 drams/$1, while also setting itself up for revaluation against the ruble, from 4.28 to 4.20 drams/1 ruble, and continuing to strengthen against the euro, from 404 to 401.5 drams/1 euro. A year earlier, on October 30, 2025, the dram exchange rate against the dollar was 383.5 drams/$1, against the euro – 444 drams/1 euro, and against the ruble – 4.73 drams/1 ruble. Compared to current rates, this indicates an annual revaluation of the dram against the dollar, euro, and ruble by 6%, 10%, and 11%, respectively, compared to current rates.
According to the Central Bank of Armenia, four ruble transactions and three dollar transactions were conducted on the interbank currency market from October 26 to 30 of this year. Moreover, both ruble and dollar transactions were executed on Tuesday and Thursday (October 27 and 29). As a result, the total volume of dollar transactions amounted to $7.5 million at an average exchange rate of 360.24 drams/$1 (versus 361.28 drams/$1 the week before), and the weekly volume of ruble transactions amounted to 1.9 billion rubles at an average exchange rate of 4.46 drams/RUB (versus 4.39 drams/RUB the week before). The maximum volume of dollar transactions "appeared" on Tuesday (October 27) - $3.5 million, and the equally largest volumes of ruble transactions occurred on Monday and Tuesday (October 26 and 27) - 600 million rubles each.
On the intrabank foreign exchange market from October 26 to 30 of this year. Compared to the previous week (19-23.10.26), the dollar buying trend went from a 19.4% decline to a 12.2% growth with an acceleration of the sales decline from 0.8% to 11.4%. For euro transactions, the sales trend reversal from a 1.2% decline towards 17% growth was accompanied by an acceleration of the purchase decline from 3% to 17.5%. For ruble transactions, there was an acceleration of sales growth from 6.3% to 31.2% with a reversal of the buying trend from 3.1% growth towards a 2.4% decline. As a result, during the reporting week, $195.3 million was purchased at an average rate of 359.42 drams/$1, 45.6 million euros at an average rate of 399.99 drams/1EUR, and 9.7 billion rubles. at an average rate of 4.37 dr/1RUB, and $177.3 million were sold at an average rate of 361.69 dr/$1, 70.7 million euros at an average rate of 406.05 dr/1EUR, and 4.2 billion rubles at an average rate of 4.51 dr/1RUB. In the intra-bank foreign exchange market, the maximum volumes of buying and selling dollars and buying up rubles were recorded on Tuesday (October 27 - $61.9 million, $41.9 million and 2.4 billion rubles), the next day - Wednesday - "showed up" The largest volumes of euro purchases and sales occurred on October 28 (11.8 million and 21.9 million euros), while the maximum ruble sales volume occurred on Friday (October 30 - 1.3 billion rubles).
According to the Central Bank of Armenia, from January to August 2026, the Central Bank intervened in the foreign exchange market for $1.760 billion, strengthening the exchange rate from 381.49 drams/$1 in December to 365.81 drams/$1 in August. These were only purchases.
On the intrabank foreign exchange market from January to August 2026, $6.4 billion, 1.6 billion euros, and 301.02 billion rubles were purchased, while $7.1 billion, 1.9 billion euros, and 118.4 billion rubles were sold. This resulted in a buying rate of 364.27 drams/$1, 419.70 drams/€1, and 4.30 drams/₽1 on the intrabank foreign exchange market in August, while the selling rate was 366.31 drams/$1, 426.27 drams/€1, and 4.42 drams/₽1, compared to the December 2025 buying rates of 380.38 drams/$1, 442.74 drams/€1, and 4.83 drams/₽1 for buying, and 382.62 drams/$1, 449.26 drams/€1, and 4.91 drams/₽1 for selling.
On the interbank foreign exchange market from January to August 2026, dollar transactions totaled $413.2 million, euro transactions totaled 26.3 million, and Ruble transactions totaled 33.54 billion rubles. Moreover, no euro transactions were made in March-June. During this period, the dram strengthened on the interbank currency market against the dollar to 365.71 drams/$1, against the ruble to 4.38 drams/ruble, and against the euro to 423.90 drams/EUR. Compared to December 2025 figures, the corresponding figures were 381.33 drams/$1, 4.88 drams/ruble, and 446.78 drams/EUR. As a reminder, ruble transactions on the Armenian Interbank Currency Exchange (AIX) began on March 14, 2022.
From January to August 2026, dollar transactions worth $29.3 million were conducted on the exchange's currency platform, accompanied by the dram's strengthening to 364.34 drams/$1 in August, up from 381.25 drams/$1 in December 2025. In fact, in the first eight months of 2026, the volume of dollar transactions on the exchange's currency platform was almost the same as for the entire 2025 ($29.4 million).
