Friday, November 6 2015 17:10

National dram depreciated against US dollar 1.9% in Jan-Oct 2015 amid 2.4% deflation

ArmInfo. The national dram depreciated against the US dollar 1.9% in Jan-Oct 2015 and in Oct 2015 alone revaluation totaled 1.8%, amid 15.2% year over year depreciation. The National Service of Statistics told ArmInfo the exchange rate averaged 472.5 AMD/1 USD in Oct 2015 versus 409.98 AMD/1 USD in Oct 2014 and 406.61 AMD/1 USD in Oct 2013. In Jan-Oct 2014, the national dram devaluated against US dollar 1.2%, in Oct alone depreciation totaled 0.3% amid 0.9% year over year depreciation. In Jan-Oct 2013 the national currency depreciated against US dollar 0.1%, and in Oct alone revaluation totaled 0.5% amid 0.1% year over year revaluation.

According to the source, on the consumer market of Armenia, in Oct 2015 deflation totaled 0.4%, in Jan-Oct 2015- deflation totaled 2.4% (amid 4.4% year over year inflation). As compared to Oct 2014, there

was 1% inflation, in Jan-Oct 2014 inflation totaled 0.2% (amid 2.9% year over year inflation), while comparing to Oct 2013 there was 0.3% inflation, in Jan-Oct 2013 inflation totaled 3.5%. In Jan-Oct 2012

amid 0.3% deflation 6.1% depreciation of AMD against US dollar was registered. In Oct 2012 alone rise of consumer costs by1.2% was accompanied by revaluation of AMD against US dollar by 0.5%, versus

0.9% inflation and 4.5% depreciation of the national dram against US dollar in Jan- Oct 2011(in Oct 2011 alone amid 0.3% deflation depreciation of AMD against US dollar totaled 1.1%).

According to the National Statistics Service, depreciation of the AMD against USD for 2014 totaled 14.1%, in Dec alone - 10%, amid 4.6% inflation for 2014 (in Dec alone - 3%). In 2013, the dram depreciated against dollar 0.1%, in Dec alone - 0.1% amid 5.6% inflation (1.1% in Dec). In 2012 the AMD depreciated against USD 5.9%, in Dec - 0.3% amid 3.2% inflation in 2012 (2.1% in Dec alone).

To recall, during the last months of 2014 the forex market of Armenia registered a sharp rise of the AMD/USD exchange rate - over 570 AMD/1USD. In 2014 the AMD depreciated 40% (min in June and maximum in Dec). The previous sharp devaluation of the national dram was registered in 2009 (March 3 - 22%). The reason was CBA's return to the floating rate policy. In 2014, the national currency slumped as Russian ruble rate fell, private transfers decreased, export and import shrank affecting the economic development.

RUB	4.75	-0.04
USD	382.72	0.10
EUR	444.15	-1.53
GBP	504.23	-1.52
CAD	274.21	-0.33
JPY	24.86	-0.27
CNY	53.81	-0.08
CHF	478.40	-2.22

News

National dram depreciated against US dollar 1.9% in Jan-Oct 2015 amid 2.4% deflation