Some facts about Currency of Armenia - Armenian Dram
Armenian Dram (Dram means money in English) is the monetary unit of Armenia and the Nagorno-Karabakh Republic. The sign used for Armenian Dram is Դ and the
ISO 4217 code used to denote Armenian Dram is AMD.
The Armenian dram can be further subdivided into 100 luma.
The Armenian law empowers the Central Bank of Armenia exclusively to issue the national currency.
The first Armenian dram was introduced in 1199-1375. During that time¸ silver coins were called dram. Armenia was declared free from the Soviet Union and on
March 27¸ 1993 and the central Bank of Armenia came into being during that time. The Armenian dram that we see today was introduced on Nov. 22¸ 1993 and the
exchange rate was almost 14 AMD to 1 USD. From 1994 onwards¸ Armenian dram became the sole official currency of Armenia and has always maintained a floating
exchange rate. However¸ there has been a tendency of steady and continuous growth since its introduction.
Currency of Armenia - Armenian Dram Coin Types
Armenian dram coins were issued in the year 1994 by the Central Bank of Armenia in denominations of 10¸ 20 and 50 luma and 1¸ 3¸ 5 and 10 dram. All the coins
were made of aluminium. In the year 2003 and 2004¸ new coins of denominations 10¸ 20¸ 50¸ 100¸ 200 and 500 drams were introduced. Of them¸ the 10 dram coin
is made of aluminium¸ the 20 dram is struck in copper plated steel¸ the 50 dram in brass plated steel¸ while the 100 dram is cast in in nickel plated steel
and 200 dram in brass. The 500 dram coin is made of a bimetallic alloy with brass outer ring and cupronickel centre.
Currency of Armenia - Armenian Dram Banknote Types
Banknotes of denominations 10¸ 25¸ 50¸ 100¸ 200 and 500 dram were introduced by the Central Bank in the year 1993. From October 24¸ 1994 and September 1995
onwards¸ banknotes for 1000 and 5000 dram started being circulated respectively. A commemorative 20¸000 dram note was issued in 1999 and in 2110¸ a 50¸000
dram note as a part of the celebrations of the 1700th anniversary of the adoption of Christianity in Armenia. Also 10¸000 dram notes started being circulated
in 2003.
The Armenian dram banknotes that are currently circulated are:
- 1000 dram
- 5000 dram
- 10¸000 dram
- 20¸000 dram
- 50¸000 dram
- 100¸000 dram
Currency of Armenia - Currency Exchange Rate to other World Famous Currencies like US¸ UK etc
As of February 17th¸ 2011¸ the currency exchange rates of Argentine peso to the currencies of US and UK are:
1.00 USD = 366.030 AMD
1.00 GBP = 593.308 AMD
However¸ the values are floating¸ and the exchange rates always tend to change according to the money market trends.
Currency of Armenia - Official website details of Armenian Dram
You can check the official website of Armenian dram at www.cba.am to know more details about the same.
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