EXCHANGE RATE OF ARMENIAN DRAM AGAINST DOLLAR DECLINES BY 7.3% IN PAST YEAR
Noyan Tapan
Nov 3, 2008
YEREVAN, NOVEMBER 3, NOYAN TAPAN. The consumer prices in Armenia
and the settlement exchange rate of the Armenian dram against the
US dollar increased by 4.9% and 0.7% respectively in October 2008 on
December 2007. 3% growth of consumer prices was accompanied by a 9.4%
decline in the exchange rate of the dram in the same period of 2007.
According to the RA National Statistical Service, the consumer
prices and the settlement exchange rate of the Armenian dram grew
by 0.7% and 1.2% respectively (the dollar appreciated) in October on
September 2008. The average settlement exchange rate of the Armenian
dram against the US dollar made 306.26 drams in October 2008, which
was lower by 7.3% than the index of October 2007 (330.28 drams).