ARMENIAN NATIONAL CURRENCY STRENGTHENS VERSUS U.S. DOLLAR APPROX BY 10% IN 4Q 2007

ARKA
April 2, 2008

YEREVAN, April 2. /ARKA/. Armenian national currency strengthened
versus the U.S. dollar approximately by 10% in the 4th quarter 2007,
says the economic and social review of Asia and Pacific region for
2008. The study was conducted by the UN Economic and Social Commission
for Asia and the Pacific (ESCAP).

Last year money transfers became an important outer source of
financing of the economic development for Armenia and made substantial
contribution to the social and economic sector of the country, the
review says. Private transfers from abroad reached $1.3bln constituting
14% of Armenia’s Gross Domestic product.

ESCAP was founded in 1997 and has 48 members and 10 associated members
representing almost 60% of the world’s population.

According to the official information, U.S. dollar devaluated against
Armenian Dram by 16.31% in the year 2007. In the period from January
to March 2008 the American currency strengthened negligibly against
the Armenian Dram (0.1%).

From: Emil Lazarian | Ararat NewsPress