Foreign Exchange Market
The foreign exchange market is a system where market participants carry out foreign currency purchase and sale transactions. The Central Bank of Armenia maintains a free-floating exchange rate policy, which is consistent with the principles of liberalized capital account transactions and independent monetary policy implementation. However, the Central Bank of Armenia may occasionally intervene in the foreign exchange market to prevent potential panic situations and significant fluctuations.
Exchange Rates: To provide market participants with summary information reflecting market developments, the Central Bank of Armenia calculates and publishes average exchange rates of foreign currencies formed in currency markets and exchange rates of the Armenian dram against precious metals. The average exchange rate of the Armenian dram against the US dollar is calculated based on purchase and sale transactions carried out in the Armenian foreign exchange market. Average exchange rates for other currencies and precious metals are calculated as cross-rates.
Key Data:
Foreign Exchange Derivatives Market: