Armenia’s gross international reserves rose to a record $6.5 billion in August, equivalent to 4.3 months of import cover, according to the World Bank’s Armenia Monthly Economic Update – September 2026.
The report says the increase was supported by strong inflows of remittances and capital. In July, net non-commercial money transfers climbed 40% year on year from a low base.
According to the World Bank, the rise was driven mainly by the continued inflow of funds from Russia, up 37.3% year on year, as well as the ongoing inflow of Russians into Armenia.
Analysts also said these inflows helped strengthen the Armenian dram. In August, the dram appreciated by 0.4% against the U.S. dollar and by 1.1% against the euro from the previous month. Compared with August 2025, it was 4.6% stronger against the U.S. dollar, although it weakened by 8.6% year on year against the Russian ruble.
Official data show that net inflows of cross-border transfers to individuals in Armenia received from abroad through the RA banking system totaled $1.56 billion in January-July 2026, up from $716.6 million in the same period of 2025. In July alone, net remittance inflows amounted to $179.1 million, compared with $129 million in July last year.
