Central Bank of Armenia to intervene in the currency market in case of serious failure

YEREVAN, October 4. /ARKA/. After setting the floating exchange rate regime the Central Bank of Armenia has not been targeting  any level of the exchange rate, monitoring instead the situation in the currency market on a daily basis being ready in case of a serious failure to  intervene with its tools, the regulator’s press service told ARKA news agency in response to a question about the causes of the exchange rate behavior in the last two weeks and how it may affect the Armenian market.

“Armenia has a floating exchange rate regime. Changes in the exchange rate are conditioned by changes in supply and demand in the market,” the Central Bank said.

Since September 19, when Azerbaijan attacked Nagorno-Karabakh, the Armenian dram has been losing value against USD. On October 2, the US dollar surged by almost 9 drams to 400 drams and grew further the following days to 413.45 drams. Today the USD is trading from 435-450 drams

According to the website of the regulator, on October 3 the volume of purchases in the currency market exceeded 19 billion drams. The exchange rate of US dollar was  407.56 dram , that of the euro – 425.37 drams, and that of the Russian ruble – 4.13 drams, while the volume of sales amounted to 31.2 billion drams at the exchange rate of  419.33 drams,  442.53 drams and 4.30 drams respectively.-0-

spot_img

POPULAR

“Anomaly in the Armenian market: Some bank bonds are trading at a yield lower than sovereign Eurobonds — KK Partners

The authors of the study "Free Lunch in Yerevan: An Arbitrage Anomaly in the Armenian Bond Market" draw attention to the unusual ratio of bank and sovereign bond yields for the debt market.

Central Bank of Armenia puts into circulation a commemorative silver coin for the 35th anniversary of the Republic

The Central Bank of Armenia will put into circulation a silver commemorative coin, "35th Anniversary of the Republic of Armenia," on September 14, 2026, the regulator's press service reported.

Unibank’s Renamed “Tumanyan” Branch Opens at a New Location

Unibank’s branch, previously located in the Moscow Cinema building, has moved to a new location and has been renamed "Tumanyan."

EDB forecasts inflation in Armenia at 4.4% by the end of 2026

Inflation in Armenia will reach 4.4% year-on-year by the end of 2026, according to the Eurasian Development Bank (EDB).

Euro, dollar, and ruble exchange rates against the Armenian dram have increased: Central Bank of Armenia

The average market exchange rate for the US dollar against the Armenian dram, formed on the Armenian foreign exchange market, increased by 0.31 points on September 10, 2026, compared to September 9, to 363.89 drams.

LATEST NEWS

spot_imgspot_imgspot_img