USD to AMD for business payments
A foreign business can pay an Armenian supplier in US dollars or convert to Armenian drams (AMD). Armenia's currency law places no restrictions on current currency transactions and allows a written contract with a non-resident to be priced in foreign currency, so the choice is commercial; the dram rule bites only on payments between Armenian residents.
- The Central Bank of Armenia (CBA) states that, within its inflation targeting framework, it follows a flexible money and exchange rate regime with no specific exchange rate target.
- Article 4(1) of Armenia's Law on Currency Regulation and Currency Control states that no restrictions may apply to current currency transactions.
- Article 6 requires prices and payments between residents for goods and services inside Armenia to be in drams, but Article 6(7) allows written non-cash contracts with a non-resident to be priced in foreign currency.
- The text of the currency law contains no repatriation requirement or export proceeds deadline, so an Armenian supplier may hold the dollars you pay.
- Armenian banks open business accounts in drams and in foreign currencies, and Ameriabank's tariff for legal entities lists incoming foreign currency wires and outgoing SWIFT transfers as separate charges.
The Armenian dram at a glance
The Armenian dram (AMD) is issued by the Central Bank of Armenia (CBA). The CBA runs an inflation targeting regime, setting its policy rate to reach a 3% inflation target over the medium term. It states that, within this framework, it follows a flexible money and exchange rate regime and does not have any specific money or exchange rate targets that need to be maintained. The dram's rate against the dollar therefore moves with the market.
| Item | Armenian dram |
|---|---|
| Currency code | AMD |
| Issuer | Central Bank of Armenia |
| Exchange rate regime (CBA wording) | Flexible money and exchange rate regime; no exchange rate target |
| Current transactions | No restrictions (currency law, Article 4(1)) |
| Pricing with non-residents | Foreign currency allowed in written non-cash contracts (Article 6(7)) |
| Payments between residents | In drams, unless the law provides otherwise (Article 6) |
| Export proceeds | No repatriation requirement or deadline in the law's text |
Sources: CBA, Monetary policy; Law HO-135-N On Currency Regulation and Currency Control (official translation). Checked on 29 October 2026.
What Armenia's currency law says about your payment
Armenia's Law on Currency Regulation and Currency Control is short and liberal. The CBA supervises its application and sets the reporting forms. The articles that matter for a buyer abroad are these:
- Article 4(1): no restrictions may apply to current currency transactions, which include paying for goods and services.
- Article 4(3): residents may conduct currency transactions outside Armenia without restrictions, subject to the law of the foreign country.
- Article 4(2): the CBA may set a procedure and conditions for capital flow and financial currency transactions, such as loans and investments. These do not apply to an ordinary supplier invoice.
- Article 6: prices for goods, services and work must be quoted in drams, and payments between residents for them made in drams, unless the law provides otherwise.
- Article 6(7): a written non-cash contract between an Armenian legal person or individual entrepreneur and a non-resident may be priced in foreign currency.
So a foreign buyer may agree a dollar price in a written contract and pay by bank transfer, while your Armenian agent or subsidiary pays local suppliers in drams. Breaches carry sanctions under the Code on Administrative Offences (Article 10). Stablecoins are regulated separately: the National Assembly adopted the Law on Crypto-Assets on 29 May 2025, and providing crypto-asset services requires a CBA license. Our guide to USD business accounts in Armenia covers the supplier's side.
How a payment reaches an Armenian supplier
Armenian banks open business accounts in drams and in foreign currencies. A payment from abroad arrives by SWIFT, the network banks use for cross-border payments, through the Armenian bank's correspondent. Ask the supplier for the account that matches the invoice currency, because a dollar wire to a dram account is converted by the bank on arrival.
| Detail | What to use |
|---|---|
| Contract | A written contract with the non-resident buyer; it can be priced in dollars under Article 6(7) |
| Beneficiary name | The supplier's registered name, exactly as on the account |
| Account | The dollar account for a dollar invoice, or the dram account |
| Bank and SWIFT code | From the supplier's bank; check it with our SWIFT code lookup |
| Reference | Contract and invoice number; Armenian banks apply anti-money laundering and sanctions checks to wires |
Sources: Law HO-135-N, Articles 4 and 6; Ameriabank, tariffs for legal entities. Checked on 29 October 2026.
What converting USD to AMD costs
A dollar to dram conversion costs the mid-market rate, the midpoint between buying and selling prices at that moment, plus your provider's margin, plus the payment fee. If you send dollars to a dram account, the supplier's bank converts at its own rate. On the receiving side, Armenian banks price each step separately: Ameriabank's tariff for legal entities lists account opening, account maintenance, incoming foreign currency wire transfers and outgoing SWIFT transfers as separate items, with different maintenance terms for resident and non-resident companies. Ask the supplier which charges its bank deducts so the invoice is not paid short, and use OUR charges if it must receive the full amount.
Helm is a financial technology company, not a bank. Its US dollar account services are provided by Bridge Building, Inc. (NMLS ID 2450917), a licensed money transmitter, with customer funds held at Lead Bank. A Helm account holds dollars in your company's own name and sends international payments to suppliers by SWIFT, or by local rails in the supplier's currency where available, with the rate, fee and expected arrival shown before you send.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. See how Helm pricing works.
Pay an Armenian supplier in USD or AMD?
- Pay USD under a written contract priced in dollars, which Article 6(7) allows with a non-resident. The supplier can hold the dollars, since the law sets no repatriation or conversion requirement.
- Pay AMD when the contract is priced in drams, or for local services billed in drams. You carry the exchange rate risk under a flexible regime.
- Pay locally in drams through your Armenian entity for costs between residents, as Article 6 requires.
For how SWIFT charges are split, see our guide to OUR, SHA and BEN.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
Is the Armenian dram floating?
The Central Bank of Armenia states that it follows a flexible money and exchange rate regime within its inflation targeting framework and has no specific exchange rate target.
Does Armenia restrict payments for goods and services?
No. Article 4(1) of the Law on Currency Regulation and Currency Control states that no restrictions may apply to current currency transactions.
Can an Armenian supplier invoice me in US dollars?
Yes. Article 6(7) of the currency law allows a written non-cash contract between an Armenian legal person or individual entrepreneur and a non-resident to be priced in foreign currency.
Must an Armenian exporter convert dollars to drams?
The text of the currency law contains no repatriation requirement or export proceeds deadline, so an Armenian company may hold foreign currency it receives.
Can my Armenian subsidiary pay local suppliers in dollars?
Generally no. Article 6 requires prices and payments between residents for goods and services inside Armenia to be in drams, unless the law provides otherwise.
What does Helm charge to pay a supplier in Armenia?
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment.
References
- Central Bank of Armenia: Monetary policy
- ARLIS: Law of the Republic of Armenia HO-135-N On Currency Regulation and Currency Control (official translation)
- Ameriabank: Tariffs for legal entities
- ARLIS: Law of the Republic of Armenia on Crypto-Assets (official translation)
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.