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1.4% fall in consumer prices causes 0.1% AMD revaluation

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  • 1.4% fall in consumer prices causes 0.1% AMD revaluation

    ARKA News Agency
    July 1 2005

    1.4% FALL IN CONSUMER PRICES CAUSES 0.1% AMD REVALUATION

    YEREVAN, July 1. /ARKA/. A 1.4% fall in consumer prices in June as
    against May 2005 caused a 0.1% revaluation in the nominal AMD/USD
    nominal exchange rate. The RA National Statistical Service reports
    that 7.7% AMD/USD exchange rate revaluation was recorded in June 2005
    as against December 2004, with inflation being 1.4%. A similar trend
    was recorded during the corresponding period of last year - a 4.5%
    rise in consumer prices was accompanied by 3.8% AMD revaluation. In
    June 2005, the average AMD/USD exchange rate was 448.80AMD/$1,
    whereas in June 2004 it was 543.90 AMD/$1. Thus, 17.5% AMD
    revaluation was recorded during the period under review. P.T. -0--
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