Armenian Dram Appreciated 15.2% Against Us Dollar In October 2006 On

ARMENIAN DRAM APPRECIATED 15.2% AGAINST US DOLLAR IN OCTOBER 2006 ON DECEMBER 2005

Noyan Tapan
Nov 02 2006

YEREVAN, NOVEMBER 2, NOYAN TAPAN. A 2.5% growth in consumer prices was
registered in Armenia in October 2006 on December 2005. The settlement
exchange rate of the Armenian dram against the US dollar declined
by 15.2% (the dram appreciated) in the indicated period. There
was a 3.5% and 7.6% decline in consumer prices and the settlement
exchange rate respectively in October 2005 on December 2004. The 0.2%
inflation registered in the Armenian consumer market in October on
September 2006 was accompanied by a 1.7% decline in the settlement
exchange rate of the Armenian dram against the US dollar. The average
settlement exchange rate of the Armenian dram against the US dollar
made 381.26 drams in October 2006, which is lower by 15.3% than the
index of October 2005 (449.28 drams).

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