ArmInfo. In Jan-Dec 2016, the AMD position against USD did not change amid 1.1% deflation. As compared to Jan-Dec 2015, AMD slightly revaluated against USD amid 1.4% deflation. In December 2016 alone, AMD devaluated against USD by 0.9% amid 1.1% inflation. The National Statistical Service of Armenia has told ArmInfo that in December 2016 the average exchange rate was 482.8 AMD/$ versus 482.9 AMD/$1 in Dec 2015, 463.5 AMD/$1 in Dec 2014, 405.3 AMD/$1 in Dec 2013 and 405.5 AMD/$1 in Dec 2012.
As compared to Dec 2008 and Dec 2009, AMD depreciated against USD by 57% and 27%, respectively, because AMD sharply devaluated twice during that period: by 22% on March 3 2009 and by 45% in Oct- Dec 2014. In 2009, it happened as the Central Bank returned to the 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. In 2016, on the retail forex market AMD depreciated against USD and RUR to 484 AMD/$1 and 8 AMD/1 RUR, and appreciated against EUR to 505 AMD/1EUR. By 11 Jan 2017, on the retail forex market AMD depreciated against USD to 485 AMD/$1, against EUR to 512 AMD/1, and against RUR to 8.1 AMD/1 RUR.
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%.
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