Armenian dram

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Armenian dram
Հայկական Դրամ  (Armenian)
100,000 Armenian dram - 2009 (obverse).jpg
A 100,000 (haryur hazar) Armenian dram banknote, the highest denominated banknote in circulation.
ISO 4217 codeAMD
Central bankCentral Bank of the Republic of Armenia
 Websitewww.cba.am
User(s)

 Armenia

 Nagorno-Karabakh Republic
Inflation4.5% (Armenia only)
 SourceThe World Factbook, 2007 est.
Subunit
 1/100luma (լումա)(not used)
SymbolArmenian dram sign.svg
Coins10 (tas), 20 (ksan), 50 (hisun), 100 (haryur), 200 (yerkuharyur), 500 (hingharyur) dram
Banknotes1000 (hazar), 5000 (hing hazar), 10 000 (tas hazar), 20 000 (ksan hazar), 50 000 (hisun hazar), 100 000 (haryur hazar) dram
 
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Armenian dram
Հայկական Դրամ  (Armenian)
100,000 Armenian dram - 2009 (obverse).jpg
A 100,000 (haryur hazar) Armenian dram banknote, the highest denominated banknote in circulation.
ISO 4217 codeAMD
Central bankCentral Bank of the Republic of Armenia
 Websitewww.cba.am
User(s)

 Armenia

 Nagorno-Karabakh Republic
Inflation4.5% (Armenia only)
 SourceThe World Factbook, 2007 est.
Subunit
 1/100luma (լումա)(not used)
SymbolArmenian dram sign.svg
Coins10 (tas), 20 (ksan), 50 (hisun), 100 (haryur), 200 (yerkuharyur), 500 (hingharyur) dram
Banknotes1000 (hazar), 5000 (hing hazar), 10 000 (tas hazar), 20 000 (ksan hazar), 50 000 (hisun hazar), 100 000 (haryur hazar) dram

The dram (Armenian: Դրամ; sign: Armenian dram sign.svg; 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 and the Arabic dirham. The first instance of a dram currency was in the period from 1199 to 1375, when silver coins called dram were issued.

History[edit]

On 21 September 1991 a national referendum proclaimed Armenia as an independent republic from the Soviet Union. The Central Bank of Armenia, established on 27 March 1993, was given the exclusive right of issuing the national currency.

In the immediate aftermath of the collapse of the Soviet Union attempts were made to maintain a common currency (the Russian ruble) among CIS states. Armenia joined this rublezone. However it soon became clear that maintaining a common currency in the unstable political and economical circumstances of the post-Soviet states would be very difficult. The rublezone effectively collapsed in July 1993 when Russia unilaterally started a currency reform. As result the states that were still participating (Kazakhstan, Uzbekistan, Turkmenistan, Moldova, Armenia and Georgia) were 'pushed out' and forced to introduce separate currencies. Armenia was one of the last countries to do so when it introduced the dram on 22 November 1993.[1]

The Armenian dram is also used in the unrecognized Nagorno-Karabakh Republic. A separate currency, the Nagorno-Karabakh dram, which circulates together with the Armenian dram was introduced during 2005. Coins and banknotes ranging in nominal values from 50 luma to 10 dram were issued.

Officially the Nagorno-Karabakh dram is legal tender in both Armenia and Nagorno-Karabakh. In practice it is however mostly sold as souvenirs due to the low nominal values of the coins and notes issued.[2]

Coins[edit]

In 1994, a first series of aluminium coins was introduced in denominations of 10, 20 and 50 luma, 1, 3, 5 and 10 dram. In 2003 and 2004, a second series consisting of 10, 20, 50, 100, 200 and 500 dram coins was introduced to replace the first series.

The Central Bank has also issued a great number of commemorative coins intended for sale to collectors. A listing can be found at [1] or [2].

First series (1994)[edit]

In 1994, a first series of aluminium coins was introduced in denominations of 10, 20 and 50 luma, 1, 3, 5 and 10 dram. At present only the 10 dram coin is still in use. The other coins are officially in circulation but not really used because of to their low nominal value.[3][4]

First series (1994)
ImageValueTechnical parametersDescriptionDate of
DiameterMassCompositionEdgeObverseReversefirst mintingissuewithdrawallapse
AM 1994 10 luma .pngAM 1994 averse .png10 luma[5]16.0 mm0.59 galuminium alloySmoothValue, year of mintingArmenian coat of arms1994February 21, 1994Current,
but not used in practice
-
AM 1994 20 luma .pngAM 1994 averse .png20 luma[6]18.0 mm0.75 gSmooth
AM 1994 50 luma .pngAM 1994 averse .png50 luma[7]20.0 mm0.93 gSmooth
AM 1994 1 dram .pngAM 1994 averse .png1 dram[8]22.0 mm1.39 gMilled
AM 1994 3 dram .pngAM 1994 averse .png3 dram[9]24.0 mm1.63 gMilled
AM 1994 5 dram .pngAM 1994 averse .png5 dram[10]26.0 mm1.98 gSmooth
AM 1994 10 dram .pngAM 1994 averse .png10 dram[11]28.0 mm2.30 gSmoothCurrent

Second series (2003-2004)[edit]

In 2003 and 2004, a new coinage consisting of 10, 20, 50, 100, 200 and 500 dram coins was introduced.

Second series (2003-2004)
ImageValueTechnical parametersDescriptionDate of
DiameterMassCompositionEdgeObverseReversefirst mintingissuewithdrawallapse
AM 2004 10 dram r.pngAM 2004 10 dram a.png10 dram[12]20.0 mm1.3 galuminium alloyMilledValue,ornaments,
year of minting
Armenian coat of arms2004December 1, 2004Current-
AM 2003 20 dram r.pngAM 2003 20 dram a.png20 dram[13]20.5 mm2.75 gCopper plated steelSmooth2003January 1, 2003
AM 2003 50 dram r.pngAM 2003 50 dram a.png50 dram[14]21.5 mm3.5 gBrass plated steelMilledMarch 31, 2003
AM 2003 100 dram r.pngAM 2003 100 dram a.png100 dram[15]22.5 mm4.0 gNickel plated steelMilled
AM 2003 200 dram r.pngAM 2003 200 dram a.png200 dram[16]24.0 mm4.5 gAlloy of copper,
aluminum, nickel
Milled
AM 2003 500 dram r.pngAM 2003 500 dram a.png500 dram[17]22.0 mm5.0 gInner ring: copper-nickel

Outer ring: alloy of copper,
aluminum, nickel

Interrupted milled

Banknotes[edit]

A first series of banknotes was issued in November 1993. It was withdrawn from circulation by 2005. A second series was issued from 1998 onwards which is still in use at present.

First series (1993-1995)[edit]

On 22 November 1993, banknotes of 10, 25, 50, 100, 200 and 500 dram were issued.[18] Notes for 1000 and 5000 dram were put into circulation later.

First series (1993-1995)
ImageValueDimensionsMain ColorDescriptionDate of
ObverseReverseObverseReverseprintingissueannul
10 Armenian dram - 1993 (obverse).png10 Armenian dram - 1993 (reverse).png10 dram125 x 62  mmBrown/PurpleYerevan Train Station and David of Sasun statueMount Ararat1993November 22, 1993April 1, 2004
25 Armenian dram - 1993 (obverse).png25 Armenian dram - 1993 (reverse).png25 dramYellow/Brown/BlueUrartian cuneiform tablet and a lion relief from Erebuni fortressOrnaments
50 Armenian dram - 1993 (obverse).png50 Armenian dram - 1993 (reverse).png50 dramBlue/RedNational Gallery and History Museum of ArmeniaArmenian parliament buildingJanuary 1, 2004
100 Armenian dram - 1993 (obverse).png100 Armenian dram - 1993 (reverse).png100 dram125 x 62 mmBlue/Purple/RedMount Ararat and Zvartnots CathedralArmenian Opera Theater
200 Armenian dram - 1993 (obverse).png200 Armenian dram - 1993 (reverse).png200 dram135 x 62 mmBrown/Green/Yellow/RedSt. Hripsime Church in EchmiadzinOrnamentsApril 1, 2004
500 Armenian dram - 1993 (obverse).png500 Armenian dram - 1993 (reverse).png500 dramGreen/Brown/BlueMount Ararat and a Tigran the Great tetradrachmSeptember 1, 2005
1000 Armenian dram - 1994 (obverse).png1000 Armenian dram - 1994 (reverse).png1,000 dram145 x 68 mmBrown/OrangeMesrop Mashtots statue and Matenadaran7th century obelisk monument from Ani1994October 25, 1994March 1, 2004
5000 Armenian dram - 1995 (obverse).png5000 Armenian dram - 1995 (reverse).png5,000 dram145 x 71 mmGreen/Yellow/PurpleGarni templeBronze head of goddess Anahit kept in the British Museum1995September 6, 1995July 1, 2005
These images are to scale at 0.7 pixels per millimeter.

Second series (1998-present)[edit]

The banknotes of 500 dram are rarely seen in circulation. The 500 dram coin is used instead.
A commemorative 50,000 dram note was issued on 4 June 2001 to observe the 1700th anniversary of the adoption of Christianity in Armenia.

Second series (1998–present)
ImageValueDimensionsMain ColorDescriptionDate of
ObverseReverseObverseReverseprintingissueannul
50 Armenian dram - 1998 (obverse).png50 Armenian dram - 1998 (reverse).png50 dram122 x 65  mmPink/Blue/GreyAram Khachaturian and Armenian Opera TheaterA scene from the ballet Gayane by Khachaturian, and Mount Ararat1998 ??April 1, 2004
100 Armenian dram - 1998 (obverse).png100 Armenian dram - 1998 (reverse).png100 dramBlue/GreyViktor HambardzumyanByurakan Observatory
500 Armenian dram - 1999 (obverse).png500 Armenian dram - 1999 (reverse).png500 dram129 x 72  mmGreyAlexander TamanyanGovernment House in Yerevan designed by A. Tamanyan1999September 1, 2000Current
1,000 Armenian dram - 1999 (obverse).png1,000 Armenian dram - 1999 (reverse).png1,000 dram136 x 72 mmGreen/PinkYeghishe CharentsAn image of old Yerevan1999
2001
2011
March 1, 1999
5,000 Armenian dram - 1999 (obverse).png5,000 Armenian dram - 1999 (reverse).png5,000 dram143 x 72 mmYellow/GreenHovhannes TumanyanNature of Lori from Martiros Saryan's paintings1999
2003
2009
2012
July 1, 2000
10,000 Armenian dram - 2003 (obverse).png10,000 Armenian dram - 2003 (reverse).png10,000 dram150 x 72 mmPurpleAvetik IsahakyanAn image of old Gyumri2003
2006
2008
2012
November 1, 2003
20,000 Armenian dram - 1999 (obverse).png20,000 Armenian dram - 1999 (reverse).png20,000 dramYellow/Red/BrownMartiros SaryanEpisode from Martiros Saryan's Armenia landscape1999
2007
2009
2012
March 1, 1999
50,000 Armenian dram - 2001 (obverse).png50,000 Armenian dram - 2001 (reverse).png50,000 dram160 x 79 mmBrown/RedEtchmiadzin CathedralSt. Gregory the Illuminator and king Tiridates the Great lift up the Armenian Church; on the right - a khachkar from Kecharis Monastery.2001June 4, 2001
100,000 Armenian dram - 2009 (obverse).jpg100,000 Armenian dram - 2009 (reverse).jpg100,000 dram160 x 72 mmBlue/BrownAbgar V of EdessaIn the center St. Thaddeus transfers the painting of Jesus Christ (painted alive) to Abgar V of Edessa.[19]2009August 24, 2009
These images are to scale at 0.7 pixels per millimeter.

Exchange rates[edit]

The modern dram came into effect on 22 November 1993, at a rate of 200 rubles = 1 dram (1 USD : 404 AMD). The dram is not pegged to any other currency.

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 XE.com:AUD CAD CHF EUR GBP HKD JPY USD RUB
From OANDA.com:AUD CAD CHF EUR GBP HKD JPY USD RUB
From fxtop.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[edit]

References[edit]

  1. ^ Pomfret, Richard (2001). The IMF and the Ruble zone. Available at: http://www.readcube.com/articles/10.1057/ces.2002.17
  2. ^ http://www.memo.ru/hr/hotpoints/caucas1/msg/2005/09/m50530.htm
  3. ^ BBC (2013). Available at: http://www.bbc.co.uk/news/magazine-21572359
  4. ^ Armenian Central Bank. www.cba.am
  5. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinsnotcirculated.aspx?nominal=1
  6. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinsnotcirculated.aspx?nominal=2
  7. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinsnotcirculated.aspx?nominal=3
  8. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinsnotcirculated.aspx?nominal=4
  9. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinsnotcirculated.aspx?nominal=5
  10. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinsnotcirculated.aspx?nominal=6
  11. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinsnotcirculated.aspx?nominal=7
  12. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinscirculated.aspx?nominal=1
  13. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinscirculated.aspx?nominal=2
  14. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinscirculated.aspx?nominal=3
  15. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinscirculated.aspx?nominal=4
  16. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinscirculated.aspx?nominal=5
  17. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinscirculated.aspx?nominal=6
  18. ^ "Central Bank Of The Republic Of Armenia". Cba.am. Retrieved 30 May 2013. 
  19. ^ "Բիզնես 24 - Հայկական Բիզնես Օրաթերթ, 24/08/09". B24.am. 2009-08-24. Retrieved 2011-12-05. 

External links[edit]