ArmInfo. The Armenian dram (AMD) revaluated against US dollar (USD) by 1.8% in Jan-Sept 2016 and 0.3% in September alone, amid 1.5% year-over-year revaluation, according to the National Statistics Service. In September 2016, the average exchange rate totaled 474.1AMD/1USD versus 481.1 AMD/1USD in September 2015 and 408.8 AMD/1USD in September 2014 and 408.2 AMD/1USD in September 2013. A year earlier, in Jan-Sept 2015, AMD devaluated against USD by 3.8%, in September along - 0.3% amid 17.7% y-o-y devaluation.
According to the source, inflation in the consumer market in Sept 2016 totaled 0.1% (1.9% y-o-y deflation), in Jan-Sept 2016, deflation totaled 3.7% (1.6% y-o-y deflation). For comparison, in 2015, inflation in Sep totaled 0.1% amid 0.3% devaluation of AMD against USD. In Jan-Sept, a 2% deflation was registered amid 3.8% depreciation of AMD against USD. In Sept 2014, a 0.4% inflation was registered, amid 0.3% revaluation of AMD against USD. In Jan-Sept a 0.8% deflation was accompanied by as much devaluation of AMD against USD. In Jan-Sept 2013, inflation totaled 3.2% amid 0.7% devaluation of AMD against USD and in Sept alone, there was a 0.2% deflation and as much devaluation of AMD against USD. In Jan- Sept 2012, deflation totaled 1.5% amid 6.7% devaluation of AMD against USD and in Sept alone the consumer prices increased 0.5% amid as much devaluation of AMD against USD. In Jan-Sept 2016, a 0.6% inflation was accompanied with 3.3% devaluation of AMD and the 0.8% inflation in Sept alone was accompanied with 1.4% devaluation of AMD against USD.
As compared to Sept 2008 and Sept 2009, AMD depreciated against USD 57% and 25%, respectively. as AMD revaluated twice in the given period: 22% on Mar 3 2009 and 45% in Oct-Dec 2014. In 2009, it happened as Central Bank return to floating exchange rate policy, while in 2014 it was a result of external factors: depreciation of the Russian ruble, shrinking private money transfers, export, import, and slackening of economic growth.
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. As of Oct 7 2016, AMD revaluated against USD and (to 475 AMD/$1 from 474 AMD/$) and RUR (to 7.7 AMD/1RUR from 7.5 AMD/1RUR) and revaluation against EUR to 528 AMD/1EUR from 532 AMD/1EUR.
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%.