EXCHANGE RATE OF ARMENIAN DRAM RISES BY 0.3% AGAINST US DOLLAR IN JUNE 2008 AS COMPARED WITH DECEMBER 2007

NOYAN TAPAN

Ju ne 29

The rise in consumer prices in Armenia and in the settlement exchange
rate of the Armenian dram against the US dollar made 6.8% and 0.3%
respectively in June 2008 on December 2007. In the same period of last
year, there was a 3.9% growth in consumer prices in parallel with 5.4%
fall in the exchanage rate of the dram.

According to the RA National Statistical Service, a 0.5% fall in
consumer prices was accompanied by a 0.7% decline in the exchange
rate of the Armenian dram against the US dollar (the dram appreciated)
in June on May 2008.

The average settlement exchange rate of the dram against the dollar
made 305.13 drams in June 2008, which is lower by 11.5% than the
index of June 2007 (344.8 drams).