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Armenian dram

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Armenian dram

Հայկական Դրամ (Armenian)

Armenian dram notes

Armenian dram coins

Banknotes Coins
ISO 4217 code

AMD

Official users

Flag of Armenia Armenia
Flag of Nagorno-Karabakh Nagorno-Karabakh Republic

Years circulated

1993–present

Inflation

6.2% (2013)[1]

Subunit

1/100 luma (լումա)

Symbol

Armenian dram sign

Coins

10, 20, 50, 100, 200, 500 dram

Banknotes

1000, 5000, 10,000, 20,000, 50,000, 100,000 dram

Central bank

Central Bank of Armenia

The Armenian dram (Armenian: Հայկական Դրամ; sign: Armenian dram sign; code: AMD) is the currency of Armenia and the Nagorno-Karabakh Republic. It is subdivided into 100 luma (լումա). The word, "dram" literally translates into English as "money", and is a cognate with the Greek drachma. The Central Bank of Armenia has the exclusive right to issue the dram, under article 2 of the law on the Central Bank of the Republic of Armenia. The dram was first introduced in 1993.

HistoryEdit

SUR 200 1992 F

Two-hundred rubles became equal to 1 dram.

The first instance of a dram currency used in Armenia was during the reign of the Armenian Kingdom of Cilicia from 1199 to 1375, when silver coins called dram were issued.

On September 21, 1991, a referendum declared Armenia independent from the Soviet Union. The Central Bank of Armenia was established on March 27, 1993, under governorship of Isahak Isahakyan. However, old Soviet notes remained legal tender until November 22, 1993, when the dram was introduced, replacing the Soviet ruble at a rate of 200 rubles = 1 dram.

CoinsEdit

Armenia 10 luma 1994

A 10 luma coin.

In 1994, the Central Bank of Armenia introduced aluminum coins in denominations of 10, 20, and 50 luma, 1, 3, 5, and 10 dram. In 2003 and 2004, a new coinage was introduced, consisting of aluminum 10, copper-plated steel 20, brass-plated steel 50, nickel-plated steel 100, brass 200, and bimetallic (brass outer ring and cupronickel center) 500 dram coins.

Armenia minted its first commemorative coins in 1994, and has produced such coins annually since with compositions of cupronickel, gold, and silver. These coins have been denominated in 5, 10, 25, 100, 200, 500, 1000, 1957, 2000, 5000, 10,000, 25,000, 50,000, and 100,000 dram.

In 2011, Armenia introduced the Noah's Ark bullion coins.

BanknotesEdit

Old dram notes

Banknotes of the first series.

In 1993, banknotes with denominations of 10, 25, 50, 100, 200, and 500 dram were introduced. On October 24, 1994, the 1000 dram note was introduced, and the 5000 dram banknote followed in September 1995. In 1998, the second series of Armenian notes was introduced, with denominations of 50 and 100 dram. A year later, new 500, 1000, and 5000 dram notes were issued, and the 20,000 dram note was introduced. In 2001, a commemorative 50,000 dram note was issued to observe the 1700th anniversary of the adoption of Christianity in Armenia. In 2003, the 10,000 dram note was introduced, followed by the 100,000 dram note in 2009.

Since April 1, 2004, the 10, 25, 50, and 100 dram notes are no longer legal tender, though they can still be exchanged at banks. The 1993 500 dram note has also been demonetized since September 1, 2005, though the 1999 note is still in circulation.

Exchange ratesEdit

 v · d · e
Current AMD exchange rates
From Google Finance [1]: AUD CAD CHF EUR GBP HKD JPY USD
From Yahoo! Finance [2]: AUD CAD CHF EUR GBP HKD JPY USD
From OzForex [3]: AUD CAD CHF EUR GBP HKD JPY USD
From XE.com [4]: AUD CAD CHF EUR GBP HKD JPY USD
From OANDA.com [5]: AUD CAD CHF EUR GBP HKD JPY USD


See alsoEdit

ReferencesEdit

 v · d · e
Armenian dram
Banknotes 10 d25 d50 d100 d200 d500 d1000 d5000 d10,000 d20,000 d
50,000 d100,000 d
Coins 10 l20 l50 l1 d3 d5 d10 d20 d25 d50 d100 d200 d500 d1000 d1957 d2000 d5000 d10,000 d20,000 d25,000 d50,000 d100,000 d
Miscellaneous Armenian dram signCentral Bank of ArmeniaLumaNagorno-Karabakh dram

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