Friday, September 9 2016 14:00
Alina Hovhannisyan

In Jan-Aug 2016 Armenian dram appreciated against US dollar by 1.5% amid 3.8% decline in consumer prices

In Jan-Aug 2016 Armenian dram appreciated against US dollar by 1.5%  amid 3.8% decline in consumer prices

ArmInfo. In August 2016,  Armenian dram (AMD) appreciated against US dollar (USD) by 0.2%  (versus 0.5% depreciation in August 2015 and 2014). As compared with  August 2015, AMD revaluated against USD by 0.9% (versus 17.2%  year-over devaluation in 2015 and 0.5% devaluation in August 2014).  The National Statistical Service of Armenia has told ArmInfo that in  Jan-Aug 2016, AMD revaluated against USD by 1.5% (versus 3.5%  devaluation in Jan-Aug 2015 and 1% devaluation in Jan-Aug 2014). The  average exchange rate in August 2016 was 475.4 AMD/$1, versus 479.8  AMD/$1 in August 2015, 409.5 AMD/$1 in August 2014. 

The source says that the consumer market of Armenia saw 0.5%  deflation in August 2016; 3.8% deflation versus Dec 2015; 1.9%  deflation versus Aug 2015. A year before, in August 2015, 0.1%  inflation was fixed amid 0.5% devaluation of AMD against USD. In  Jan-Aug 2015, 2.1% deflation was fixed amid 3.5% devaluation. As  compared to August 2014, 3.6% inflation was registered amid 17.2%  devaluation.  

To recall, in 2015, on the retail foreign exchange market of Armenia  AMD weakened against USD from 477 to 482 AMD/$1 on average and  strengthened against EUR from 571.5 to 529 AMD/1EUR and against  Russian ruble from 8.2 to 6.9 AMD/1 RUR. Between December 14 and 28,  the Central Bank made almost daily interventions. AMD depreciated  amid decline of foreign trade turnover (by 20.6%), while import  dropped more significantly (by 26.5%) than export (by 3.9%) as well  as the decline in transfer inflow to Armenia more than by 30%, and  this happened in conditions of low buying capacity of the population  and low economic activity in the country.  By 9 Sept 2016, on the  retail forex market of Armenia AMD appreciated against USD to 475  AMD/$1, at the same time depreciating against EUR and RUR to 536  AMD/1EUR and 7.4 AMD/1EUR, respectively. 

According to the National Statistical Service of Armenia, AMD  depreciation against USD totaled 4.2% in 2015 amid drop of consumer  prices only by 0.1%. In December alone AMD depreciated against USD by  0.6% (to 482.9 AMD/$1) amid 1.7% inflation. In 2014, AMD devaluation  by 14.1% (in December alone - by 10% amid 3% inflation) was  accompanied by 4.6% inflation. In 2013, AMD revaluated 0.1% to USD  amid 5.6% inflation. In 2012, amid 3.2% inflation devaluation of AMD  against USD was registered at 5.8%. In 2011 inflation totaled 4.7%  and AMD depreciated by 6.2% versus 9.4% inflation in 2010 and AMD  revaluation by 5.2%.

POST A COMMENT
Input digits     


News
Ameriabank provides business loans totaling over AMD 14 billion to  renewable energy sectorAmeriabank provides business loans totaling over AMD 14 billion to  renewable energy sector
Pashinyan-led government has nothing in common with economic growth -  Suren ParsyanPashinyan-led government has nothing in common with economic growth -  Suren Parsyan
EBRD, Central Bank sign Memorandum to support  CBA in Digital  Transformation of Financial Market Infrastructure in ArmeniaEBRD, Central Bank sign Memorandum to support  CBA in Digital  Transformation of Financial Market Infrastructure in Armenia
Employed citizens to not pay for health insurance of non-employed  citizens: Health Minister Employed citizens to not pay for health insurance of non-employed  citizens: Health Minister 
Plastic bank card blank seller tries to break into analytics market  with analytics stolen from ArmInfoPlastic bank card blank seller tries to break into analytics market  with analytics stolen from ArmInfo
Armenian Picsart enters TOP-20 best apps in  world according to  data.aiArmenian Picsart enters TOP-20 best apps in  world according to  data.ai
Armenian Finance Ministry, WB representatives outline future joint  projectsArmenian Finance Ministry, WB representatives outline future joint  projects
Ambassador Anne Louyot: France is ready to continue assisting Armenia in implementation of both short-term programs and long-term strategic reformsAmbassador Anne Louyot: France is ready to continue assisting Armenia in implementation of both short-term programs and long-term strategic reforms
EEC: Industrial cooperation projects of EAEU may be launched no  earlier than  2024EEC: Industrial cooperation projects of EAEU may be launched no  earlier than  2024
Armenia is interested in reaching early consensus on project to form common EAEU gas marketArmenia is interested in reaching early consensus on project to form common EAEU gas market
Health insurance in Armenia will turn into a monster - Tigran  JrbashyanHealth insurance in Armenia will turn into a monster - Tigran  Jrbashyan
In Jany-Nov 2022, trade turnover between Armenia and EAEU states  increased by more than 90% - PashinyanIn Jany-Nov 2022, trade turnover between Armenia and EAEU states  increased by more than 90% - Pashinyan
Armenia`s IT sector records growth of over 50% in 2022Armenia`s IT sector records growth of over 50% in 2022
Armenia`s minister of economy participates in meeting of the  ministers of economy of EAEU member- states Armenia`s minister of economy participates in meeting of the  ministers of economy of EAEU member- states 
Converse Bank receives its second award this yearConverse Bank receives its second award this year
CBA continues to increase countercyclical capital buffer, supporting  banking sector`s resilience to systemic risksCBA continues to increase countercyclical capital buffer, supporting  banking sector`s resilience to systemic risks
AMD 14bln to be allocated to Armenia`s textile industry AMD 14bln to be allocated to Armenia`s textile industry 
Documentary credit system of payments to developers could be  introduced in Armenia Documentary credit system of payments to developers could be  introduced in Armenia 
Seven Armenian regions to get AMD 1bln under subvention programmes Seven Armenian regions to get AMD 1bln under subvention programmes 
FLYONE ARMENIA airline making promotional offer FLYONE ARMENIA airline making promotional offer 
Possibilities of expanding cooperation in energy and transport  between Armenia, Iran discuss in TehranPossibilities of expanding cooperation in energy and transport  between Armenia, Iran discuss in Tehran
CBA: From H2 2023, inflation will gradually approach targeted 4% in  ArmeniaCBA: From H2 2023, inflation will gradually approach targeted 4% in  Armenia
CBA Head: Inflationary pressure to soften in 2023CBA Head: Inflationary pressure to soften in 2023
Central Bank: Volume of deposits of non-residents in Armenian banks  almost doubled in 2022Central Bank: Volume of deposits of non-residents in Armenian banks  almost doubled in 2022
Martin Galstyan: there is one commonality for all regulators today -  no one knows how to regulate the cryptosector wellMartin Galstyan: there is one commonality for all regulators today -  no one knows how to regulate the cryptosector well
Central Bank is considering possibility of increasing countercyclical  capital buffer by 0.5%Central Bank is considering possibility of increasing countercyclical  capital buffer by 0.5%
Central Bank of Armenia maintains its forecast for 2023 on GDP growth  at 4.6%Central Bank of Armenia maintains its forecast for 2023 on GDP growth  at 4.6%
Armenia`s gross international reserves set a new record of $4.112  billion by 2023Armenia`s gross international reserves set a new record of $4.112  billion by 2023
Health insurance in Armenia: Why does social justice contradict  social solidarity in Health Ministry`s compulsory health insurance  concept and what are risks of State Fund control ?Health insurance in Armenia: Why does social justice contradict  social solidarity in Health Ministry`s compulsory health insurance  concept and what are risks of State Fund control ?
Common Aviation Area Agreement between EU and Armenia enters into  forceCommon Aviation Area Agreement between EU and Armenia enters into  force
Armenia`s CB leaves refinancing rate unchanged Armenia`s CB leaves refinancing rate unchanged 
Nikol Pashinyan to take part in EIC meeting in AlmatyNikol Pashinyan to take part in EIC meeting in Almaty
Armenia`s financial authorities continue loan market dedollarization Armenia`s financial authorities continue loan market dedollarization 
60 Armenian IT companies among Armenia`s 1,000 major taxpayers 60 Armenian IT companies among Armenia`s 1,000 major taxpayers 
Armenia`s minister of economy meets with BostonGene company reps Armenia`s minister of economy meets with BostonGene company reps 
Ameriabank leads Armenian mortgage marketAmeriabank leads Armenian mortgage market
Global Finance: Converse Bank is Armenia`s leading bank in Trade FinanceGlobal Finance: Converse Bank is Armenia`s leading bank in Trade Finance
Expert forecasts that growth of business activity in Armenian economy  to reach 7% this year Expert forecasts that growth of business activity in Armenian economy  to reach 7% this year 
Wizz Air to start operating flights to 4 new routesWizz Air to start operating flights to 4 new routes
ZCMC paid unprecedented taxes in 2022, exceeding the figure of the previous year by almost two and a half times.ZCMC paid unprecedented taxes in 2022, exceeding the figure of the previous year by almost two and a half times.
Armenian NPP comments on Azerbaijani Human Rights Commissioner`s call Armenian NPP comments on Azerbaijani Human Rights Commissioner`s call 
Armenia`s IT sector rapidly developing - reps Armenia`s IT sector rapidly developing - reps 
Armenia, Qatar discuss opportunities for investment cooperation Armenia, Qatar discuss opportunities for investment cooperation 
44,929 more officially registered jobs in Armenia as against last  year44,929 more officially registered jobs in Armenia as against last  year
Italian businesses interested in Armenia`s investment environment Italian businesses interested in Armenia`s investment environment 
Vahan Kerobyan raises Artsakh issue at Global Forum on Food and  Agriculture in BerlinVahan Kerobyan raises Artsakh issue at Global Forum on Food and  Agriculture in Berlin
Corporacion America  CEO expresses readiness to increase investments  in ArmeniaCorporacion America  CEO expresses readiness to increase investments  in Armenia
Loss ratio in CMPTL market decreased from 79% to 66% in 2022 Loss ratio in CMPTL market decreased from 79% to 66% in 2022 
Armenian banks record 3-fold growth in net profit in 2022Armenian banks record 3-fold growth in net profit in 2022
Expert: The development of the cryptosector in Armenia is the key to the involvement of new players, the growth of the tax base and jobs   Expert: The development of the cryptosector in Armenia is the key to the involvement of new players, the growth of the tax base and jobs  
901 transactions to amount of over AMD 56bln effected under economic  modernization programme in 2022901 transactions to amount of over AMD 56bln effected under economic  modernization programme in 2022
Armenia`s economy will not be able to withstand the expansion of  Turkish goods- EconomistArmenia`s economy will not be able to withstand the expansion of  Turkish goods- Economist
Armenia`s government to support hotels in Syunik, Vaiots DzorArmenia`s government to support hotels in Syunik, Vaiots Dzor
In Armenia, terms for removing arrest from citizens` accounts to be  reduced to 1-2 days from previous 7 days or moreIn Armenia, terms for removing arrest from citizens` accounts to be  reduced to 1-2 days from previous 7 days or more
Share of Armenia`s authorized capital in  EDB increased to 4.2291%,  while Russia`s stake in EDB decreased  to 44.7878%  Share of Armenia`s authorized capital in  EDB increased to 4.2291%,  while Russia`s stake in EDB decreased  to 44.7878%  
Armenia, Germany discuss number of issues on cooperation in economic  sectorArmenia, Germany discuss number of issues on cooperation in economic  sector
$350mln to invested in Zvartnots International Airport$350mln to invested in Zvartnots International Airport
Declaration of income: We have not achieved tax egalitarianism -  ExpertDeclaration of income: We have not achieved tax egalitarianism -  Expert
In Jan-Nov 2022, Armenian-Georgian trade turnover doubled compared to  2021, amounting to $759 million- PashinyanIn Jan-Nov 2022, Armenian-Georgian trade turnover doubled compared to  2021, amounting to $759 million- Pashinyan
Irakli Garibashvili announces about 70% increase in foreign trade  turnover with ArmeniaIrakli Garibashvili announces about 70% increase in foreign trade  turnover with Armenia
Read more


Exchange rates
07.02.2023
RUB5.59-0.02
USD395.88-0.74
EUR424.11-2.85
GBP474.86-2.19
CAD294.99-0.11
JPY30.000.00
CNY58.25-0.30
CHF427.42-0.71