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Armenian Dram Appreciates By 13.9% Against Dollar In One Year

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  • Armenian Dram Appreciates By 13.9% Against Dollar In One Year

    ARMENIAN DRAM APPRECIATES BY 13.9% AGAINST DOLLAR IN ONE YEAR

    Noyan Tapan
    April 1, 2008

    YEREVAN, APRIL 1, NOYAN TAPAN. The growth of consumer prices and the
    settlement exchange rate of the Armenian dram against the US dollar
    made 4.8% and 1,5% respectively in Armenia in March 2008 as compared
    with December 2007.

    According to the RA National Statistical Service, 1.4% inflation in
    Armenia's consumer market was accompanied by 0.01% decline of the
    settlement exchange rate of the Armenian dram against the US dollar
    in March on February 2008. There was 2% growth of consumer prices
    in parallel with 1,6% decline of the settlement exchange rate of
    the dram against the dollar in the same period of last year. The
    average settlement exchange rate of the Armenian dram against the
    US dollar made 308.68 drams in March 2008, which is lower by 13.9%
    than the respective index of last year (358.63 drams).
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