Dollar transactions decreased and ruble transactions increased in  Armenian interbank foreign exchange market, June 9-13, 2025

ArmInfo. In the Armenian interbank foreign exchange market from June 9 to June 13, 2025, dollar transactions continued to decline, while ruble transactions increased. Euro transactions were not conducted for the second week in a row. Specifically, the weekly trend for ruble transactions shifted from an 88.4% decline to a 7.1% growth, while dollar transactions continued to decline at a faster pace from 8% to 60%. As a result, ruble transactions once again surpassed dollar transactions  by 2 times, whereas the previous week, dollar transactions had been leading by 1.4 times. In the interbank foreign exchange market during the reporting week (09-13.06.25 compared to 02-06.06.25) the trend for buying and selling dollars continued to rise, while the trend for buying and selling euros decreased. Ruble transactions saw a decline  with a noticeable decrease in rates. 

From June 9 to 13, 2025, the dram was expected to devalue against the dollar, going from AMD 383.5 to AMD 384.5/$1, while also weakening noticeably against the euro, dropping from AMD 437.5 to AMD 442.5 /1EUR, and further strengthening against the ruble, increasing from  AMD 4.80 to AMD 4.78/1RUB.  A year earlier, on June 13, 2024, the dram exchange rate was AMD 389.5 / $ 1, to the euro -AMD 420.5  / 1 EUR, and to the ruble - AMD 4.29 / 1RUB. This shows an annual revaluation of the dram against the dollar, and a devaluation against the euro and ruble compared to current rates. According to the Central Bank of the Republic of Armenia, there were two dollar transactions and three ruble transactions in the interbank foreign exchange market from June 9 to 13. The platform was empty on Friday (June 13), with dollar and ruble transactions happening simultaneously on Wednesday (June 11). On the other days,  only dollar transactions occurred on Tuesday (June 10) and only ruble transactions on Monday and Thursday ( June 9 and 12). The total weekly volume of dollar transactions was $4.8 million with an average rate of AMD 383.73 /$1 (compared to AMD 383.49 /$1 a week earlier),  ruble transactions - 750 million rubles with an average rate of AMD 4.84 /1RUB (compared to AMD 4.83 /1RUB a week earlier). The highest volume of dollar transactions was on Tuesday (June 10) - $2.5 million, and the largest volume of ruble transactions was on Thursday (June 12) with 450 million rubles.

In the interbank foreign exchange market from June 9 to 13 of this year, the trend of buying and selling dollars continued to increase compared to the previous week (02-06.06.25). There was a slowdown in the rate of buying from 36% to 12% and an acceleration in the rate of selling from 4% to 7.1%. The trend of buying and selling euros reversed from 99.6-0.6% growth towards a 38.6-37% decline and the trend of buying and selling rubles also declined with rates slowing from 26.5-65.7% to 4.5-13.6%. During the reporting week, $160.8 million was bought at an average rate of AMD 381.77 /$1, 34.2 million euros at an average rate of AMD 434.68/1EUR, and 16.1 billion rubles  at an average rate of AMD 4.82 /1RUB. $260.6 million were sold at an average rate of AMD 384.58/$1, over 53 million euros at an average rate of AMD 442.32/1EUR, and 2.23 billion rubles at an average rate of AMD 4.911RUB. The largest volumes of euro and ruble purchases occurred on Monday (June 9 - 11.7 million euros and 4.9 billion rubles, respectively), with the maximum sales of dollars occurring on the same day (June 9 - $65.1 million). The largest sales of euro and ruble "appeared" on Tuesday and Friday, respectively (June 10 - 13.97  million euros, June 13 - 523.5 million rubles), while the maximum purchase of dollars occurred on Thursday (June 12 - $53.03 million).

According to the Central Bank of the Republic of Armenia, in Q1 2025, the Central Bank intervened in the foreign exchange market in February and March alone for a total of $94 million, strengthening the exchange rate from AMD 394.19/$1 in February to AMD 393.14/$1 in March, and these interventions were solely purchase operations. In the interbank foreign exchange market in the first quarter of 2025,  $1.5 billion, 444.5 million euros and 171.8 billion rubles were purchased, and $2.2 billion, 892.2 million euros and 51.1 billion rubles were sold. This resulted in the purchase rate in the interbank foreign exchange market in March being at the level of AMD 390.77  /$1, AMD 419.57/1EUR and AMD 4.53/1RUB. The sale rate was AMD 394.14 /$1, AMD 426.95/1 EUR and AMD 4.65 /1 RUB, compared to December 2024 AMD 394.84 /$1, AMD 413.75/1EUR, AMD 3.84 /1 RUB - for purchase, and  AMD 398.16/$1, AMD 420.09 /1EUR, AMD 3.97/1RUB - for sale. In the interbank foreign exchange market in Q1 2025, there were dollar transactions totaling $191 million and ruble transactions totaling 6.8 billion rubles, while euro transactions were only conducted in February-March for a total of 1.7 million euros. This led to a weakening of the dram against the ruble and euro in the interbank foreign exchange market to March's AMD 4.54 /1RUB and AMD 426.25/1 EUR, and a slight strengthening against the dollar to AMD 393.65 /$1,  compared to December 2024's AMD 3.84 /1RUB, AMD 414.25/1 EUR and AMD 396.1/$1, respectively.  

In the interbank foreign exchange market during this period, the largest volume of dollar transactions occurred in January ($81 million), ruble transactions in March (2.95 billion rubles), and euro transactions in February (1 million euros). The currency exchange platform, after eight years of "silence", resumed operations in June 2024. Over the course of five months (June-October) dollar transactions totaled $14.7 million, accompanied by the strengthening of the dram from June AMD 388.90 to AMD 387.75 drams/$1 in October. In November-December, the currency exchange platform remained  inactive. In Q1 2025, dollar transactions amounting to $1.850 million were conducted on the foreign exchange platform. This was accompanied by the strengthening of the dram from AMD 398.75 in January to AMD 393.14/$1 March. 

Recall that ruble transactions in the interbank foreign exchange  market of Armenia started on March 14, 2022. From that point until the end of the year, transactions worth 8.7 billion rubles were carried out.  Additionally, and another 17.5 billion rubles worth of transactions were  completed for the whole of 2023.  This led to a weakening of the dram against the ruble in the interbank foreign exchange market  from AMD 4.86 to AMD 5.8 drams/1 RUB in March-December 2022. However, there was a subsequent strengthening of the dram against the ruble reaching AMD 4.47/1 RUB by the end of 2023, and further strengthening to AMD 3.84/1 RUB by the end of 2024.