ARMENIAN DRAM APPRECIATES BY 20.5% AGAINST US DOLLAR IN ONE YEAR

Noyan Tapan
Mar 30 2007

YEREVAN, MARCH 30, NOYAN TAPAN. A 1.7% decline in the settlement
exchange rate of the Armenian dram against the US dollar was
registerted in Armenia in March 2007 on December 2006 in parallel
with a 2% growth in consumer prices.

The growth of consumer prices and of the settlement exchange rate in
March 2006 on December 2005 made 2.8% and 0.4% respectively.

According to the RA National Statistical service, the 0.6% price fall
in Armenia’s consumer market in March on February 2007 was accompanied
by a 0.7% increase in the settlement exchange rate of the Armenian
dram against the US dollar (average on March 1-28).

The average settlement exchange rate of the Armenian dram against
the US dollar made 358.32 drams in March 2007, which is by 20.5%
lower than the respective index of March 2006 (451 drams).

From: Emil Lazarian | Ararat NewsPress