Armenian dram

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For earlier Armenian currency, see Armenian ruble.
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 code AMD
Central bank Central Bank of the Republic of Armenia
 Website www.cba.am
User(s)  Armenia  Nagorno-Karabakh Republic
Inflation 4.5% (Armenia only)
 Source The World Factbook, 2007 est.
Pegged with Nagorno-Karabakh Republic Nagorno-Karabakh dram
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

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

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 with the unilateral monetary reform in Russia, 1993. 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]

Armenian dram sign

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Main article: Armenian dram sign
The dram Sign

In 1995 the currency sign for the Armenian dram was designed.

Nagorno-Karabakh

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Main article: Nagorno-Karabakh dram

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

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)

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)
Image Value Technical parameters Description Date of
Diameter Mass Composition Edge Obverse Reverse first minting issue withdrawal lapse
AM 1994 10 luma.pngAM 1994 averse.png 10 luma[5] 16.0 mm 0.59 g aluminium alloy Smooth Value, year of minting Armenian coat of arms 1994 February 21, 1994 Current,
but not used in practice		 -
AM 1994 20 luma.pngAM 1994 averse.png 20 luma[6] 18.0 mm 0.75 g Smooth
AM 1994 50 luma.pngAM 1994 averse.png 50 luma[7] 20.0 mm 0.93 g Smooth
AM 1994 1 dram.pngAM 1994 averse.png 1 dram[8] 22.0 mm 1.39 g Milled
AM 1994 3 dram.pngAM 1994 averse.png 3 dram[9] 24.0 mm 1.63 g Milled
AM 1994 5 dram.pngAM 1994 averse.png 5 dram[10] 26.0 mm 1.98 g Smooth
AM 1994 10 dram.pngAM 1994 averse.png 10 dram[11] 28.0 mm 2.30 g Smooth Current
  • All coins bear the year of the first issue (1994).

Second series (2003-2004)

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

Second series (2003-2004)
Image Value Technical parameters Description Date of
Diameter Mass Composition Edge Obverse Reverse first minting issue withdrawal lapse
AM 2004 10 dram r.pngAM 2004 10 dram a.png 10 dram[12] 20.0 mm 1.3 g aluminium alloy Milled Value,ornaments,
year of minting		 Armenian coat of arms 2004 December 1, 2004 Current -
AM 2003 20 dram r.pngAM 2003 20 dram a.png 20 dram[13] 20.5 mm 2.75 g Copper plated steel Smooth 2003 January 1, 2003
AM 2003 50 dram r.pngAM 2003 50 dram a.png 50 dram[14] 21.5 mm 3.5 g Brass plated steel Milled March 31, 2003
AM 2003 100 dram r.pngAM 2003 100 dram a.png 100 dram[15] 22.5 mm 4.0 g Nickel plated steel Milled
AM 2003 200 dram r.pngAM 2003 200 dram a.png 200 dram[16] 24.0 mm 4.5 g Alloy of copper,
aluminum, nickel		 Milled
AM 2003 500 dram r.pngAM 2003 500 dram a.png 500 dram[17] 22.0 mm 5.0 g Inner ring: copper-nickel

Outer ring: alloy of copper,
aluminum, nickel

 Interrupted milled
  • All coins bear the year of the first issue (2003 or 2004).

Banknotes

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)

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)
Image Value Dimensions Main Color Description Date of
Obverse Reverse Obverse Reverse printing issue annul
10 Armenian dram - 1993 (obverse).png 10 Armenian dram - 1993 (reverse).png 10 dram 125 x 62 mm Brown/Purple Yerevan Train Station and David of Sasun statue Mount Ararat 1993 November 22, 1993 April 1, 2004
25 Armenian dram - 1993 (obverse).png 25 Armenian dram - 1993 (reverse).png 25 dram Yellow/Brown/Blue Urartian cuneiform tablet and a lion relief from Erebuni fortress Ornaments
50 Armenian dram - 1993 (obverse).png 50 Armenian dram - 1993 (reverse).png 50 dram Blue/Red National Gallery and History Museum of Armenia Armenian parliament building January 1, 2004
100 Armenian dram - 1993 (obverse).png 100 Armenian dram - 1993 (reverse).png 100 dram Blue/Purple/Red Mount Ararat and Zvartnots Cathedral Armenian Opera Theater
200 Armenian dram - 1993 (obverse).png 200 Armenian dram - 1993 (reverse).png 200 dram 135 x 62 mm Brown/Green/Yellow/Red St. Hripsime Church in Echmiadzin Ornaments April 1, 2004
500 Armenian dram - 1993 (obverse).png 500 Armenian dram - 1993 (reverse).png 500 dram Green/Brown/Blue Mount Ararat and a Tigran the Great tetradrachm September 1, 2005
1000 Armenian dram - 1994 (obverse).png 1000 Armenian dram - 1994 (reverse).png 1,000 dram 145 x 68 mm Brown/Orange Mesrop Mashtots statue and Matenadaran 7th century obelisk monument from Ani 1994 October 25, 1994 March 1, 2004
5000 Armenian dram - 1995 (obverse).png 5000 Armenian dram - 1995 (reverse).png 5,000 dram 145 x 71 mm Green/Yellow/Purple Garni temple Bronze head of goddess Anahit kept in the British Museum 1995 September 6, 1995 July 1, 2005
These images are to scale at 0.7 pixels per millimeter. For table standards, see the banknote specification table.

Second series (1998-present)

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)
Image Value Dimensions Main Color Description Date of
Obverse Reverse Obverse Reverse printing issue annul
50 Armenian dram - 1998 (obverse).png 50 Armenian dram - 1998 (reverse).png 50 dram 122 x 65  mm Pink/Blue/Grey Aram Khachaturian and Armenian Opera Theater A scene from the ballet Gayane by Khachaturian, and Mount Ararat 1998  ?? April 1, 2004
100 Armenian dram - 1998 (obverse).png 100 Armenian dram - 1998 (reverse).png 100 dram Blue/Grey Viktor Hambardzumyan Byurakan Observatory
500 Armenian dram - 1999 (obverse).png 500 Armenian dram - 1999 (reverse).png 500 dram 129 x 72 mm Grey Alexander Tamanyan Government House in Yerevan designed by A. Tamanyan 1999 September 1, 2000 Current
1,000 Armenian dram - 1999 (obverse).png 1,000 Armenian dram - 1999 (reverse).png 1,000 dram 136 x 72 mm Green/Pink Yeghishe Charents An image of old Yerevan 1999
2001
2011		 March 1, 1999
5,000 Armenian dram - 1999 (obverse).png 5,000 Armenian dram - 1999 (reverse).png 5,000 dram 143 x 72 mm Yellow/Green Hovhannes Tumanyan Nature of Lori from Martiros Saryan's paintings 1999
2003
2009
2012		 July 1, 2000
10,000 Armenian dram - 2003 (obverse).png 10,000 Armenian dram - 2003 (reverse).png 10,000 dram 150 x 72 mm Purple Avetik Isahakyan An image of old Gyumri 2003
2006
2008
2012		 November 1, 2003
20,000 Armenian dram - 1999 (obverse).png 20,000 Armenian dram - 1999 (reverse).png 20,000 dram 155 x 72 mm Yellow/Red/Brown Martiros Saryan Episode from Martiros Saryan's Armenia landscape 1999
2007
2009
2012		 March 1, 1999
50,000 Armenian dram - 2001 (obverse).png 50,000 Armenian dram - 2001 (reverse).png 50,000 dram 160 x 79 mm 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. 2001 June 4, 2001
100,000 Armenian dram - 2009 (obverse).jpg 100,000 Armenian dram - 2009 (reverse).jpg 100,000 dram 160 x 72 mm Blue/Brown Abgar V of Edessa In the center St. Thaddeus transfers the painting of Jesus Christ (painted alive) to Abgar V of Edessa.[19] 2009 August 24, 2009
These images are to scale at 0.7 pixels per millimeter. For table standards, see the banknote specification table.

Exchange rates

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 currency other than the Nagorno-Karabakh dram.

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: AUD CAD CHF EUR GBP HKD JPY USD RUB
From OANDA: AUD CAD CHF EUR GBP HKD JPY USD RUB
From fxtop.com: AUD CAD CHF EUR GBP HKD JPY USD RUB
From Currency.Wiki: 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

References

  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. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  19. ↑ Lua error in package.lua at line 80: module 'strict' not found.

External links

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