Wednesday, January 11 2017 16:46
Alina Hovhannisyan

AMD position against USD did not change in 2016 amid 1.1% deflation

AMD position against USD did not change in 2016 amid 1.1% deflation

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%.

POST A COMMENT
Input digits     


News
ARMECONOMBANK Summarizes 2024 Results with New Opportunities for ProgressARMECONOMBANK Summarizes 2024 Results with New Opportunities for Progress
How to Enjoy Summer to the Fullest
Deputy Minister of Territorial Administration, IRI Ambassador discuss third Iran-Armenia high voltage power line construction progressDeputy Minister of Territorial Administration, IRI Ambassador discuss third Iran-Armenia high voltage power line construction progress
Health Fund for Children of Armenia is the Beneficiary of Health Fund for Children of Armenia is the Beneficiary of "The Power of One Dram" Program in June
Armenia to host  prestigious international wine competition  in 2026Armenia to host  prestigious international wine competition  in 2026
WANO experts get acquainted with production process at Armenian NPPWANO experts get acquainted with production process at Armenian NPP
Armenia`s Cabinet approves Isakov-Arshakunyats road construction project in Yerevan Armenia`s Cabinet approves Isakov-Arshakunyats road construction project in Yerevan 
Armenia`s Cabinet approves allocation of $1mln to Asian Development  Fund Armenia`s Cabinet approves allocation of $1mln to Asian Development  Fund 
AI Factory to become available to Armenian eco-startup environment - ministerAI Factory to become available to Armenian eco-startup environment - minister
Cooperation with Armenia will help lay foundation for AI development in region - NVIDIACooperation with Armenia will help lay foundation for AI development in region - NVIDIA
Armenia`s banking sector to tighten capital buffersArmenia`s banking sector to tighten capital buffers
Digitization of justice discussed in ArmeniaDigitization of justice discussed in Armenia
Team Group, NVIDIA, and Firebird Announce a $500 Million Megaproject to Build a Regional AI Supercomputing HubTeam Group, NVIDIA, and Firebird Announce a $500 Million Megaproject to Build a Regional AI Supercomputing Hub
Minister: $500 million  artificial intelligence plant to be  constructed in ArmeniaMinister: $500 million  artificial intelligence plant to be  constructed in Armenia
RA SRC Chairman, EEC Minister for Customs Cooperation discuss current  cooperation  RA SRC Chairman, EEC Minister for Customs Cooperation discuss current  cooperation  
Armenia to use space information for disaster risk managementArmenia to use space information for disaster risk management
In 2024, vegetable and fruit export from Armenia exceeded 144,000 tonsIn 2024, vegetable and fruit export from Armenia exceeded 144,000 tons
Ameriabank joins TOON EXPO to be held first time in MoscowAmeriabank joins TOON EXPO to be held first time in Moscow
"Plain and Simple": Financial Literacy with AraratBank
Deputy Economy Minister:  Out of 557 completed customs declarations for Armenian alcoholic beverages exporters, 70% have been accepted by the destination country`s customs Deputy Economy Minister:  Out of 557 completed customs declarations for Armenian alcoholic beverages exporters, 70% have been accepted by the destination country`s customs 
Hail damages 8,700 hectares of agricultural land - officialHail damages 8,700 hectares of agricultural land - official
Construction of five reservoirs planned in Armenia - minister Construction of five reservoirs planned in Armenia - minister 
Lower population growth in ArmeniaLower population growth in Armenia
Safe use of nuclear energy by Armenia discussed in Nice Safe use of nuclear energy by Armenia discussed in Nice 
Armenian trucks temporarily barred from entering Georgia Armenian trucks temporarily barred from entering Georgia
Central Bank to establish a regulatory framework for  crypto assets  sector within 1.5 year timeframeCentral Bank to establish a regulatory framework for crypto assets sector within 1.5 year timeframe
Martin Galstyan:  Armenian dram has weakened against US dollar in  terms of real effective rateMartin Galstyan: Armenian dram has weakened against US dollar in terms of real effective rate
CB Chairman on cases of financial fraud: Banks to extend moratorium  on credit obligations until court verdictCB Chairman on cases of financial fraud: Banks to extend moratorium on credit obligations until court verdict
Sinanyan: 70% of IGorts program participants remained in Armenia in recent years
Martin Galstyan: Non-interest income growth in Armenia`s banking  sector to continue in 2025Martin Galstyan: Non-interest income growth in Armenia`s banking sector to continue in 2025
Mher Grigoryan to take part in SPIEF-2025Mher Grigoryan to take part in SPIEF-2025
Zhanna Andreasyan: Compared to 2018, funding for science in Armenia  increased by 280%Zhanna Andreasyan: Compared to 2018, funding for science in Armenia  increased by 280%
Pashinyan discusses country`s tax policyPashinyan discusses country`s tax policy
Armenia`s foreign trade with EAEU decreasing, while increasing with EUArmenia`s foreign trade with EAEU decreasing, while increasing with EU
Tigran Khachatryan, Philip Morris International Regional President  discuss  potential areas for cooperationTigran Khachatryan, Philip Morris International Regional President  discuss  potential areas for cooperation
Armenia, EEC discussing prospects for cooperation in customs servicesArmenia, EEC discussing prospects for cooperation in customs services
RA State Revenue Committee reveals shadow turnover in Tsakhkadzor casino RA State Revenue Committee reveals shadow turnover in Tsakhkadzor casino 
Project of 11th station of Yerevan Metro approved Project of 11th station of Yerevan Metro approved 
Armenia`s industry in decline Armenia`s industry in decline 
23% decline in output of Armenia`s metallurgical industry 23% decline in output of Armenia`s metallurgical industry 
Wine output in decline in Armenia Wine output in decline in Armenia 
4.9% y/y increase in electric energy output in Armenia4.9% y/y increase in electric energy output in Armenia
Armenia`s income tax refund for Armenia`s income tax refund for "mortgage holders" expected to peak  in 2026 before gradually decreasing
EU updates airspace EU updates airspace "blacklist". European skies remain inaccessible  to Armenian airlines 
Exclusive fintech startup  launched in partnership with Converse Bank  - Superra application for transactions on secondary securities marketExclusive fintech startup  launched in partnership with Converse Bank  - Superra application for transactions on secondary securities market
Armenia`s foreign trade turnover  significantly decreased due to   sharp decline in  export and import of diamonds and goldArmenia`s foreign trade turnover  significantly decreased due to   sharp decline in  export and import of diamonds and gold
RA Ministry of Economy planning to expand investment instrumentsRA Ministry of Economy planning to expand investment instruments
All that glitters is not gold: Economy Minister continues to insist  on limited impact of gold re-export on GDPAll that glitters is not gold: Economy Minister continues to insist  on limited impact of gold re-export on GDP
Iran-Armenia power line project 80% finished - minister Iran-Armenia power line project 80% finished - minister 
Tehran hopes for commissioning of Iran-Armenia high-voltage line this  year Tehran hopes for commissioning of Iran-Armenia high-voltage line this  year 
Research is ongoing in Armenia to select model for new nuclear power  unit - ministerResearch is ongoing in Armenia to select model for new nuclear power  unit - minister
Head of RA State Revenue Committee on reasons for ZCMC removed from list of 1,000 major taxpayers Head of RA State Revenue Committee on reasons for ZCMC removed from list of 1,000 major taxpayers 
MP for indexation of salaries and pensions in ArmeniaMP for indexation of salaries and pensions in Armenia
Georgia bans import of large batch of flowers from ArmeniaGeorgia bans import of large batch of flowers from Armenia
Wildberries Director for International Business Development announces  opening of PRO WB Entrepreneurship Development and Support Center in ArmeniaWildberries Director for International Business Development announces  opening of PRO WB Entrepreneurship Development and Support Center in Armenia
USD, RUB transactions down in Armenia`s interbank foreign exchange market June 2 to 6, 2025USD, RUB transactions down in Armenia`s interbank foreign exchange market June 2 to 6, 2025
RA Minister of Finance,  KfW representatives discuss implementation  of major infrastructure projectsRA Minister of Finance,  KfW representatives discuss implementation  of major infrastructure projects
Expert: Sober risk assessment prompted suspension of launch of   Turkey`s Expert: Sober risk assessment prompted suspension of launch of   Turkey`s "largest gas hub" 
Minister: In 2025, it is planned to construct and restore a similar  number of roads as last yearMinister: In 2025, it is planned to construct and restore a similar  number of roads as last year
Armenian Deputy PM,  KfW representative discuss  implemented projects Armenian Deputy PM,  KfW representative discuss  implemented projects 
Read more
Exchange rates
13.06.2025
RUB4.820.03
USD383.23-0.25
EUR440.91-3.77
GBP518.66-2.45
CAD281.06-0.19
JPY26.55-0.17
CNY53.36-0.08
CHF470.86-1.35