Monday, December 7 2015 13:40
Karina Melikyan

AMD deprecated against USD 1.6% in Nov 2015, amid 14.2% year on year depreciation

ArmInfo. The national dram depreciated against the US dollar 3.6% in Jan-Nov 2015 amid 1.8% deflation (in Jan-Nov 2014 the AMD depreciated against USD 3.7% amid 1.5% inflation).  In Nov 2015 alone, AMD devaluated totaled 1.6%, amid 0.6% inflation (14.2% y-o-y depreciation and 1.2% y-o-y inflation).  The National Service of Statistics told ArmInfo the exchange rate averaged 480.1 AMD/1 USD in Nov 2015 versus 420.5 AMD/1 USD in Nov 2014 and 405.0 AMD/1 USD in Nov 2013. In Nov 2014, the national dram devaluated against US dollar 2.2%, amid 3.5% y-o-y devaluation. In Jan-Nov 2013 the national currency depreciated against US dollar 0.1%, and in Nov alone revaluation totaled 0.2% amid 0.5% y-o-y revaluation.  

 
According to the source, on the consumer market of Armenia, in Jan-Nov 2015 as compared to the same period of 2014, inflation totaled 4.1%. In Nov 2014, inflation totaled 1.3% (2.6% y-o-y 
inflation), in Jan-Nov 2014 inflation totaled 1.5%. In Jan-Nov 2013, AMD revaluated 0.1% to USD amid 4.5% inflation. In Nov, consumer prices rose 0.9% amid 0.2% revaluation of AMD against USD. In Jan-Nov 2012, rise of consumer prices by1.1% was accompanied by devaluation of AMD against USD by 6.3%. In Nov alone, inflation totaled 1.4% amid 0.1% depreciation of AMD. In Jan-Nov 2011 inflation totaled 2.1% and AMD depreciated 6.2% (inflation in Nov 2011 totaled 1.2% amid 1.6% devaluation of AMD).
 
To recall, in Oct-Dec 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.
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