To provide an air conditioner, in which a dehumidification operation can be performed in a reduced noise for a long period of time.

A use-side heat exchanger constituting a refrigerating cycle is divided thermally in a 1st heat exchanger and a 2nd heat exchanger. A dry valve 9 for dehumidification operation is installed between the 1st and 2nd heat exchangers. The upstream 1st heat exchanger is functioned as a condenser, and the downstream 2nd heat exchanger is functioned as an evaporator for a dehumidification operation. A passage 46 is provided on the periphery of a valve seat 39 of the dry valve 9 to allow a valve chest 19 to communicate with a valve outlet 42 in a state of the valve being closed. A porous body 40 is provided in the passage 46 for throttling the passage. An elastic body 27 is provided in contact with the porous body 40 in a closed valve state on the side of a valve stem 21 of the valve 9.