EXCHANGE RATE OF ARMENIAN DRAM AGAINST DOLLAR INCREASES BY 0.3% SINCE EARLY 2008

Noyan Tapan

Dec 1, 2008

YEREVAN, DECEMBER 1, NOYAN TAPAN. Comsumer prices in Armenia and the
settlement exchange rate of the Armenian dram against the U.S. dollar
increased by 5.1% and 0.3% respectively in November 2008 on December
2007.

5.1% growth of consumer prices was accompanied by a 13.1% fall of the
settlement exchange rate of the dram in the same period of last year.

According to the RA National Statsistical Service, a 0.1% inflation
in the Armenian consumer market was accompanied by a 0.4% fall in
the settlement exchange rate of the dram against the dollar (the
dram appreciated) in November on October 2008. The average settlement
exchange rate of the Armenian dram made 305.13 drams in November 2008,
which was lower by 3.7% as compared with the respective index of 2007
(316.85 drams).