Armenian dram AMD

The Armenian Dram is the official currency of Armenia, also used in Nagorno-Karabakh. The word "dram" translates to "money" and is related to the Greek drachma. The Central Bank of Armenia has exclusive rights to issue the national currency, preserving its independence from the Russian ruble.

History of the Armenian Dram

The Dram was used as a monetary unit in Armenia during the Middle Ages, from 1199 to 1375, when silver coins were issued. It was reinstated as the national currency in 1991 following Armenia's independence from the Soviet Union through a national referendum.

Interesting Facts About the Armenian Dram

The Dram entered circulation in 1993, replacing Soviet rubles. The first coins were introduced in 1994, in denominations of 10, 20, 50 luma, and 1, 3, 5, and 10 Dram, made of aluminum. In 2003-2004, these were replaced by new coins made of copper, bronze, and brass.