EXCHANGE RATE OF ARMENIAN DRAM DROPS BY 7.2% AGAINST US DOLLAR IN JULY 2007 ON DECEMBER 2006

Noyan Tapan
Aug 3, 2007

YEREVAN, AUGUST 3, NOYAN TAPAN. In parallel with a 0.6% growth of
consumer prices in Armenia, a 7.2% fall in the settlement exchange
rate of the Armenian dram against the US dollar was regsitered in
July 2007 on Decemer 2006.

According to the RA National Statistical Service, the average
settlement exchange rate of the Armenian dram against the US dollar
made 338.44 drams in July 2007, which is less by 18.9% than the index
of the same month of 2006 (417.4 drams).

3.2% and 1.9% fall was recorded in consumer prices and the settlement
exchange rate of the dram against the dollar respectively in July on
June 2007.