ARMENIAN DRAM APPRECIATES 2.3% AGAINST US DOLLAR IN MAY

Noyan Tapan
Jun 21 2006

YEREVAN, JUNE 21, NOYAN TAPAN. In parallel with a 2.4% price growth on
Armenia’s consumer market in May 2006, the Armenian dram appreciated
by 2.3% against the US dollar.

According to the RA National Statistical Service, a 5.6% growth in
consumer prices was registered in May 2006 on December 2005, with
the settlement exchange rate of the US dollar declining 2.1% in the
indicated period. A similar tendency was registered in the same period
of last year: a 2.9% rise in consumer prices was accompanied by a 7.6%
depreciation of the dollar. The average settlement exchange rate of
the US dollar made 439.73 drams in May 2006, which was lower by 2.1%
than the respective index of May 2005 (449.25 drams).