Armenian dram
Armenian dram
Հայկական Դրամ (Armenian) |
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A 500-dram note that is no longer legal tender. |
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ISO 4217 Code |
AMD |
Official user(s) |
Armenia |
Unofficial user(s) |
Nagorno-Karabakh |
Inflation |
4.5% (Armenia only) |
Source |
The World Factbook, 2007 est. |
Subunit |
|
1/100 |
luma (լումա) |
Symbol |
դր. |
Coins |
10, 20, 50, 100, 200, 500 dram |
Banknotes |
500, 1000, 5000, 10 000, 20 000, 50 000 dram |
Central bank |
Central Bank of Armenia |
Website |
www.cba.am |
The dram (Armenian: Դրամ) (sign: դր.; code: AMD) is the monetary unit of Armenia. 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.
History
- For earlier Armenian currency, see Armenian ruble.
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 : 14.5 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 brass outer ring and cupronickel centre.
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
- 500 dram
- 1000 dram
- 5000 dram
- 10,000 dram
- 20,000 dram
- 50,000 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
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](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_10dram_old.png) |
![10dram old1.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_10dram_old1.png) |
10 Dram |
Brown/Purple |
Yerevan Central Train Station and David of Sasun statue |
Mount Ararat |
![25dram old.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_25dram_old.png) |
![25dram old1.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_25dram_old1.png) |
25 Dram |
Yellow/Brown/Blue |
Urartian cuneiform tablet and a lion relief from Erebuni fortress |
Ornaments |
![50dram old.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_50dram_old.png) |
![50dram old1.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_50dram_old1.png) |
50 Dram |
Blue/Red |
National Gallery and History Museum of Armenia |
Armenian parliament building |
![100dram old.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_100dram_old.png) |
![100dram old1.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_100dram_old1.png) |
100 Dram |
Blue/Purple/Red |
Mount Ararat and Zvartnots Cathedral |
Armenian Opera Theater |
![200dram old.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_200dram_old.png) |
![200dram old1.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_200dram_old1.png) |
200 Dram |
Brown/Green/Yellow/Red |
St. Hripsime Church in Echmiadzin |
Ornaments |
![500dram old.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_500dram_old.png) |
![500dram old1.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_500dram_old1.png) |
500 Dram |
Green/Brown/Blue |
Mount Ararat and a Tigran the Great tetradrachm |
Ornaments |
![1000dram old.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_1000dram_old.png) |
![1000dram old1.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_1000dram_old1.png) |
1000 Dram |
Brown/Orange |
Mesrop Mashtots statue and Matenadaran |
7th century obelisk monument from Ani |
![5000dram old.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_5000dram_old.png) |
![5000dram old1.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_5000dram_old1.png) |
5000 Dram |
Green/Yellow/Purple |
Garni temple |
Bronze head of Anahit goddess kept in British Museum |
Banknotes of 1998-2007 series
The banknotes of 50 and 100 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](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_50dram_1998.png) |
![50dram 1998-1.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_50dram_1998_1.png) |
50 Dram |
Pink/Blue/Grey |
Aram Khachaturian |
A scene from Gayane ballet composed by A. Khachaturian and the Mount Ararat |
![100dram 1998.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_100dram_1998.png) |
![100dram 1998-1.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_100dram_1998_1.png) |
100 Dram |
Blue/Grey |
Viktor Amazaspovich Ambartsumian |
Byurakan Observatory |
![500dram.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_500dram.png) |
![500dram1.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_500dram1.png) |
500 Dram |
Grey |
Alexander Tamanyan |
Government House in Yerevan designed by Al. Tamanyan |
![1000dram.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_1000dram.png) |
![1000dram1.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_1000dram1.png) |
1000 Dram |
Green/Pink |
Yeghishe Charents |
An image of old Yerevan |
![5000dram.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_5000dram.png) |
![5000dram1.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_5000dram1.png) |
5000 Dram |
Yellow/Green |
Hovhannes Tumanyan |
Nature of Lori from Martiros Saryan's paintings |
![10000dram.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_10000dram.png) |
![10000dram1.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_10000dram1.png) |
10,000 Dram |
Purple |
Avetik Isahakyan |
An image of old Gyumri |
![20000dram.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_20000dram.png) |
![20000dram1.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_20000dram1.png) |
20,000 Dram |
Yellow/Red/Brown |
Martiros Saryan |
Episode from Mariros Saryan's Armenia landscape |
![50000dram.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_50000dram.png) |
![50000dram1.png](/2009-wikipedia_en_wp1-0.7_2009-05/I/190px_50000dram1.png) |
50,000 Dram |
Brown/Red |
Etchmiadzin Cathedral |
St. Gregory the Illuminator and king Tiridates the Great lift up the Armenian Church; on the right - a khachkar from Kecharis Monastery. |
Money Supply
Currency in circulation has shown steady growth since first issue in 1993.
Year |
Currency in circulation (billion 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
Note: Rates obtained from these websites may be slightly different from the rates the Central Bank of Armenia publishes
See also
References
- Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: 1801-1991 (18th ed. ed.). Krause Publications. ISBN 0873411501.
- Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed. ed.). Krause Publications. ISBN 0-87341-207-9.
External links
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