EXCHANGE RATE OF ARMENIAN DRAM GROWS BY 0.9% AGAINST U.S. DOLLAR IN JANUARY 2008

Noyan Tapan
Feb 6, 2008

YEREVAN, FEBRUARY 6, NOYAN TAPAN. There was 2.4% and 0.9% growth in
consumer prices and the exchange rate of the Armenian dram against
the U.S. dollar respectively in Armenia in January 2008 as compared
with December 2007.

According to the RA National Statistical Service, 2.4% growth of
consumer prices was accompanied by a 0.3% fall in the exchange rate of
the Armenian dram against the dollar in the same period of last year.

The average settlement exchange rate of the Armenian dram against
the dollar made 306.98 drams in January 2008, which is by 15.6%
lower than the respective index of January 2007 (363.71 drams).