SETTLEMENT EXCHANGE RATE OF ARMENIAN DRAM AGAINST US DOLLAR FALLS BY 12.9% SINCE EARLY 2007

Noyan Tapan
Dec 03 2007

YEREVAN, DECEMBER 3, NOYAN TAPAN. The 5.1% inflation registered
in the Armenian consumer market in November 2007 on December 2006
was accompanied by a 12.9% fall in the settlment exchange rate of
the Armenian dram against the US dollar (the dram appreciated). A
similar tendency was registered in the same period of last year:
the settlement exchnage rate fell by 16.3% in parallel with a 3.5%
growth of consumer prices.

According to the RA National Statistical Service, a 3.8% fall in
the settlement exchange rate of the Armenian dram against the US
dollar was registered in the currency market in parallel with a 2.1%
inflation in the country’s consumer market in November on October 2007.

The average settlement exchange rate of the Armenian dram against
the dollar made 317.59 drams in November 2007, which is less by 15.6%
as compared with the index of November 2006 (376.16 drams).