Exchange rates are a matter of daily importance for residents of Armenia. Whether you're running a business, traveling abroad, or simply monitoring your savings, exchange rate fluctuations can have a significant impact.

What is an Exchange Rate and Why is it Important

Exchange rate shows the value of one currency relative to another currency. In Armenia, people are mainly interested in USD/AMD, EUR/AMD, and RUB/AMD ratios.

Exchange rate fluctuations can be caused by numerous factors:

  • Economic developments
  • Political events
  • Central bank policies
  • International market trends
  • Foreign trade indicators

Where to Get Accurate Exchange Rates in Armenia

To track accurate and current exchange rates, you can use the following sources:

1. Official Sources

2. Online Platforms

  • Turn.am - Here you can find the most current exchange rates and compare offers from different exchange points. Our website displays exchange rates offered by the central bank
  • Various exchange rate applications - Many Armenian applications, such as Rate.am, Dram.am, allow you to receive notifications about exchange rate changes

3. Exchange Points

  • Exchange rates at exchange points located in different parts of the city may differ from each other

How to Use Exchange Rate Fluctuations

Following exchange rates can lead to significant savings.

Tips for Currency Exchange

  1. Compare exchange rates - Rates may differ between various banks and exchange points
  2. Follow trends - If you're planning to exchange large amounts, it's worth following exchange rate dynamics
  3. Avoid airport exchanges - Usually exchange rates here are less favorable

Savings Strategy

Many Armenians keep their savings in different currencies to protect against exchange rate fluctuations. Diversification can reduce risks.

Exchange Rate Calculator and Useful Tools

On the Rate.am platform, you can use an exchange rate calculator that will help you quickly calculate how much you'll receive when exchanging one currency for another.

Additionally, you can find:

  • The most favorable exchange points
  • Other banking services related to exchange rates

How to Plan Finances Considering Exchange Rates

When financial planning, considering the exchange rate factor is important especially when you:

  • Have loans in foreign currency
  • Plan to travel abroad
  • Receive income in foreign currency
  • Trade in international online stores

Conclusion

Exchange rates affect the life of every citizen of Armenia. To make correct decisions, it's important to be constantly informed about currency value changes and use platforms like Rate.am to make the most favorable transactions.

Follow exchange rates, compare options, and make financially sound decisions.