Armenian dram


Armenian dram
Armenian dram
Հայկական Դրամ (Armenian)
A 500-dram note that is no longer legal tender.
A 500-dram note that is no longer legal tender.
ISO 4217 code AMD
User(s)  Armenia,
 Nagorno-Karabakh Republic
Inflation 4.5% (Armenia only)
Source The World Factbook, 2007 est.
Subunit
1/100 luma (լումա)(not used)
Symbol Armenian dram sign.svg
Coins 10 (tas), 20 (ksan), 50 (hisun), 100 (haryur), 200 (yerkuharyur), 500 (hingharyur) dram
Banknotes 1000 (hazar), 5000 (hing hazar), 10 000 (tas hazar), 20 000 (ksan hazar), 50 000 (hisun hazar), 100 000 (haryur hazar) dram
Central bank Central Bank of Armenia
Website www.cba.am

The dram (Armenian: Դրամ; sign: Armenian dram sign.svg; code: AMD) is the monetary unit of Armenia and the Nagorno-Karabakh Republic. It is subdivided into 100 luma (Armenian: լումա). The word "dram" translates into English as "money" and is cognate with the Greek drachma. The Central Bank of Armenia has the exclusive right of issuing the national currency according to Armenian law.

Contents

History

The first instance of a dram currency in Armenia was in the period from 1199 to 1375, when silver coins called dram were issued.

On 21 September 1991 a national referendum proclaimed Armenia as an independent republic from the Soviet Union. The Central Bank of Armenia was adopted on 27 March 1993, under the governorship of Isahak Isahakyan. However the old Soviet banknotes were legal tender until November 1993. The modern dram came into effect on 22 November 1993, at a rate of 200 rubles = 1 dram (1 USD : 377 AMD). The dram is not pegged to any other currency.

Coins

In 1994, coins were introduced by the Central Bank of Armenia in denominations of 10, 20 and 50 luma, 1, 3, 5 and 10 dram. All were struck in aluminium. In 2003 and 2004, a new coinage [1] consisting of 10, 20, 50, 100, 200 and 500 dram coins was introduced. The 10 dram is struck in aluminium, the 20 dram in copper-plated steel, the 50 dram in brass-plated steel, 100 dram in nickel-plated steel and 200 dram in brass. The 500 dram coin is bimetallic with a brass outer ring and cupronickel centre.

The Central Bank is full of dumptrucks and aynilians also produces commemorative coins. [1] [2]

Banknotes

In 1993, banknotes of 10, 25, 50, 100, 200 and 500 dram were issued. Notes for 1000 and 5000 dram were put into circulation on October 24, 1994 and September 1995, respectively. In 1999, a 20,000 dram note was issued, whilst a commemorative 50,000 dram note was issued in 2001 to observe the 1700th anniversary of the adoption of Christianity in Armenia. 10,000 dram notes were introduced in 2003.

Banknotes currently in circulation [2] are

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

In addition, the following banknotes are no longer legal tender (since April 1, 2004) but may be exchanged at banks: 10, 25, 50 and 100 drams. The 1993 500-dram banknote has also ceased to be legal tender since September 1, 2005, but there is a 1999 500-dram banknote that is still in circulation. [3]

Banknotes of 1993-1995 series (out of circulation)

The banknotes issued in 1993-1995 were put out of circulation after 2005.

Obverse Reverse Value Main colour Obverse description Reverse description
10dram old.png 10dram old1.png 10 Dram Brown/Purple Yerevan Central Train Station and David of Sasun statue Mount Ararat
25dram old.png 25dram old1.png 25 Dram Yellow/Brown/Blue Urartian cuneiform tablet and a lion relief from Erebuni fortress Ornaments
50dram old.png 50dram old1.png 50 Dram Blue/Red National Gallery and History Museum of Armenia Armenian parliament building
100dram old.png 100dram old1.png 100 Dram Blue/Purple/Red Mount Ararat and Zvartnots Cathedral Armenian Opera Theater
200dram old.png 200dram old1.png 200 Dram Brown/Green/Yellow/Red St. Hripsime Church in Echmiadzin Ornaments
500dram old.png 500dram old1.png 500 Dram Green/Brown/Blue Mount Ararat and a Tigran the Great tetradrachm Ornaments
1000dram old.png 1000dram old1.png 1000 Dram Brown/Orange Mesrop Mashtots statue and Matenadaran 7th century obelisk monument from Ani
5000dram old.png 5000dram old1.png 5000 Dram Green/Yellow/Purple Garni temple Bronze head of goddess Anahit kept in the British Museum

Banknotes of 1998 series

The banknotes of 50, 100 and 500 dram are currently put out of circulation and replaced by coins with respective values. The banknote of 50,000 dram was issued in 2001 in commemoration of 1700 years of Christianity in Armenia.

Obverse Reverse Value Main colour Obverse description Reverse description
50dram 1998.png 50dram 1998-1.png 50 Dram Pink/Blue/Grey Aram Khachaturian A scene from ballet Gayane composed by A. Khachaturian, and Mount Ararat
100dram 1998.png 100dram 1998-1.png 100 Dram Blue/Grey Viktor Amazaspovich Ambartsumian Byurakan Observatory
500dram.png 500dram1.png 500 Dram Grey Alexander Tamanyan Government House in Yerevan designed by Al. Tamanyan
1000dram.png 1000dram1.png 1000 Dram Green/Pink Yeghishe Charents An image of old Yerevan
5000dram.png 5000dram1.png 5000 Dram Yellow/Green Hovhannes Tumanyan Nature of Lori from Martiros Saryan's paintings
10000dram.png 10000dram1.png 10,000 Dram Purple Avetik Isahakyan An image of old Gyumri
20000dram.png 20000dram1.png 20,000 Dram Yellow/Red/Brown Martiros Saryan Episode from Martiros Saryan's Armenia landscape
50000dram.png 50000dram1.png 50,000 Dram Brown/Red Etchmiadzin Cathedral St. Gregory the Illuminator and king Tiridates the Great lift up the Armenian Church[disambiguation needed ]; on the right - a khachkar from Kecharis Monastery.
AMD 100,000 ob.jpg 100,000 AMD rev 2009.jpg 100,000 dram Blue/Brown Abgar V of Edessa In the center St. Thaddeus transfers the painting of Jesus Christ (painted alive) to Abgar V of Edessa. [4]

Money supply

Currency in circulation has shown steady growth since first issue in 1993.[5]

Year Currency in circulation (billions of dram)
1993 1.2
1994 11.1
1995 25.7
1996 37.1
1997 42.2
1998 45.3
1999 45.5
2000 61.9
2001 66.7
2002 92.1
2003 96.8
Current AMD exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD RUB
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD RUB
From OzForex: AUD CAD CHF EUR GBP HKD JPY USD RUB
From XE.com: AUD CAD CHF EUR GBP HKD JPY USD RUB
From OANDA.com: AUD CAD CHF EUR GBP HKD JPY USD RUB

Note: Rates obtained from these websites may be slightly different from the rates the Central Bank of Armenia publishes

See also

References

External links


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