EXCHANGE RATE OF ARMENIAN DRAM AGAINST US DOLLAR FALLS BY 9.3% IN OCTOBER 2007 ON DECEMBER 2006

Noyan Tapan
Nov 1, 2007

YEREVAN, NOVEMBER 1, NOYAN TAPAN. The 3% growth in consumer prices
in October 2007 on December 2006 was accompanied by a 9.3% fall
in the settlement exchange rate of the Armenian dram against the
US dollar. A similar tendency was registered in the same period of
last year: the exchange rate fell by 15.1% in parallel with a 2.5%
growth of consumer prices.

According to the RA National Statistical Service, a 2.2% fall in the
settlement exchange rate was registered in the currency market (on
October 1-30) in parallel with a 3.1% growth in Armenia’s consumer
market in October 2007.

The average settlement exchange rate of the Armenian dram made 330.75
drams against the US dollar in October 2007, which is lower by 13.3%
as compared with the respective index of October 2006 (381.32 drams).