Armenian Dram (AMD) Profile
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Armenia, Nagorno-Karabakh Republic
Armenian dram user
Armenian dram is the currency of Armenia and Nagorno-Karabakh Republic which has limited international recognition. Armenia (officially the Republic of Armenia) is in the South Caucasus region, and locates at the crossroad of Western Asia and Eastern Europe.
Armenia is one of the fifteen post-Soviet states which declared to secede from the Union of Soviet Socialist Republics (or the Soviet Union, USSR) in its dissolution in December of 1991. The 15 post-Soviet states are usually divided into five groupings which are Russia, three Baltic states (Lithuania, Latvia, Estonia ), five Central Asia states (Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Turkmenistan), three Eastern Europe states (Ukraine, Belarus, Moldova), and three Southern Caucasus states (Georgia, Armenia, Azerbaijan).
|Groups||Countries||Currency name||Code||1 USD=||1 EUR=||1 GBP=|
|Eastern Europe states||Ukraine||Ukrainian hryvnia||UAH||8.14863||11.05339||12.87830|
|Baltic states||Lithuania||Lithuanian litas||LTL||2.54537||3.45280||4.02253|
|Central Asia states||Kazakhstan||Kazakhstani tenge||KZT||150.82956||257.06941||238.66348|
|Southern Caucasus states||Georgia||Georgian lari||GEL||1.65582||2.24659||2.61718|
Armenian dram history
Armenia used dram as currency could go back to the period of 1199 to 1375 when silver coins called dram were issued. Armenian dram (currency code: AMD) was introduced in November 1993 replacing the old Soviet rubles (currency code: SUR) at a rate of 1 AMD= 200 SUR.
The word “dram” is cognate with the Greek drachma and the Arabic dirham. Both the names of dirham and dram derive from drachma. Greek drachma (currency code: GRD) used to be the currency of Greece and has been replaced by the euro (currency code: EUR) at a fixed rate of 1 EUR=340.750 GRD since Jan 2002. Two currencies are dirham and they are United Arab Emirates dirham (AED) and Moroccan dirham (MAD). AED is the currency of the United Arab Emirates. MAD is the currency of Morocco and Western Sahara.
Armenian dram coins and banknotes
Armenian dram is subdivided into 100 luma but which is not used. Its currency symbol is .
Currently in circulation Armenian dram coins were issues in 2004. They are 10, 20, 50, 100, 200 and 500.
Armenia issued banknotes since 1993 with 10, 25, 50, 100, 200 and 500 dram, later issued 1000, 5000, 20000, 50000 and 10000 dram in the later years. However the smaller denominations banknotes of 10, 25, 50, 100 drams are no longer in circulation but may be exchanged at banks. The 500 dram is only accepted as legal tender with the version issued in 1999 not the one of 1993.