In 2025–2026, major foreign investment funds sharply increased their investments in Armenian government bonds denominated in drams. This was announced by the head of the Central Bank of Armenia, Martyn Galstyan, noting that the interest of international players in the local debt market has grown to a level not seen before.

According to the regulator, about 10% of all outstanding Armenian government bonds are already held by foreign investors. For comparison, a few years ago, the market practically did not attract large non-residents. The volume of investments grew from approximately $430 million at the beginning of 2025 to almost $760 million, which indicates a significant capital inflow.

The Central Bank also notes that the increased demand for bonds in the national currency has boosted interest in the Armenian dram and has become one of the factors in its strengthening against the dollar. At the same time, bond yields have fallen to just over 8%, which the regulator sees as a sign of stabilization and increased confidence in the country's financial system.