Armenian dram
Armenian dram | |
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Հայկական Դրամ (Armenian) | |
A 100,000 (haryur hazar) Armenian dram banknote, the highest denominated banknote in circulation. | |
ISO 4217 | |
Code | AMD |
Denominations | |
Subunit | |
1/100 | luma (լումա) (not used) |
Symbol |
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Banknotes | |
Freq. used | 1000, 5000, 10 000, 20 000, 50 000, 100 000 dram |
Rarely used | 50, 100, 500 dram |
Coins | 10, 20, 50, 100, 200, 500 dram |
Demographics | |
User(s) |
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Issuance | |
Central bank | Central Bank of the Republic of Armenia |
Website |
www |
Valuation | |
Inflation | 4.5% (Armenia only) |
Source | The World Factbook, 2007 est. |
Pegged with |
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The dram (Armenian: Դրամ; sign: ; 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 currency union 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
![](../I/m/Dramsign-oiriginal-idea.jpg)
In 1995 the currency sign for the Armenian dram was designed.The Armenian dram sign (֏, image: ; Armenian: Դրամ; code: AMD) is the currency sign of the Armenian dram. In Unicode, it is encoded at U+058F ֏ ARMENIAN DRAM SIGN (HTML
֏
).
After its proclamation of independence, Armenia put into circulation its own national currency – Armenian Dram, the usage of which revealed the necessity for a monetary sign. As the result of common business practice and the unique pattern of Armenian letters the shape of the sign and its variations appeared in the business scratches (daybooks). Since that time and until the official endorsement of the sign a number of artists and businessmen developed and offered various shapes for it. Now the Sign (Dram symbol) is present in the Armenian standard for the national characters and symbols and in the Armenian computer fonts.
Nagorno-Karabakh
The Armenian dram is also used in the de facto independent 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 or .
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) | ||||||||||||
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Image | Value | Technical parameters | Description | Date of | ||||||||
Diameter | Mass | Composition | Edge | Obverse | Reverse | first minting | issue | withdrawal | lapse | |||
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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 |
- | |
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20 luma[6] | 18.0 mm | 0.75 g | Smooth | ||||||||
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50 luma[7] | 20.0 mm | 0.93 g | Smooth | ||||||||
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1 dram[8] | 22.0 mm | 1.39 g | Milled | ||||||||
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3 dram[9] | 24.0 mm | 1.63 g | Milled | ||||||||
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5 dram[10] | 26.0 mm | 1.98 g | Smooth | ||||||||
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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) | ||||||||||||
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Image | Value | Technical parameters | Description | Date of | ||||||||
Diameter | Mass | Composition | Edge | Obverse | Reverse | first minting | issue | withdrawal | lapse | |||
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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 | - | |
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20 dram[13] | 20.5 mm | 2.75 g | Copper-plated steel | Smooth | 2003 | January 1, 2003 | |||||
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50 dram[14] | 21.5 mm | 3.5 g | Brass-plated steel | Milled | March 31, 2003 | ||||||
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100 dram[15] | 22.5 mm | 4.0 g | Nickel-plated steel | Milled | |||||||
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200 dram[16] | 24.0 mm | 4.5 g | Alloy of copper, aluminum, nickel |
Milled | |||||||
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500 dram[17] | 22.0 mm | 5.0 g | Inner ring: copper-nickel
Outer ring: alloy of copper, |
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) | |||||||||
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Image | Value | Dimensions | Main Color | Description | Date of | ||||
Obverse | Reverse | Obverse | Reverse | printing | issue | annul | |||
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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 |
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25 dram | Yellow/Brown/Blue | Urartian cuneiform tablet and a lion relief from Erebuni fortress | Ornaments | ||||
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50 dram | Blue/Red | National Gallery and History Museum of Armenia | Armenian parliament building | January 1, 2004 | |||
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100 dram | Blue/Purple/Red | Mount Ararat and Zvartnots Cathedral | Armenian Opera Theater | ||||
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200 dram | 135 x 62 mm | Brown/Green/Yellow/Red | St. Hripsime Church in Echmiadzin | Ornaments | April 1, 2004 | ||
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500 dram | Green/Brown/Blue | Mount Ararat and a Tigran the Great tetradrachm | September 1, 2005 | ||||
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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 |
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5,000 dram | 145 x 71 mm | Green/Yellow/Purple | Temple of Garni | 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 the 50, 100, and 500 dram are rarely seen in circulation. The 50, 100, and 500 dram coins are 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) | |||||||||
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Image | Value | Dimensions | Main Color | Description | Date of | ||||
Obverse | Reverse | Obverse | Reverse | printing | issue | annul | |||
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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 |
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100 dram | Blue/Grey | Viktor Hambardzumyan | Byurakan Observatory | ||||
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500 dram | 129 x 72 mm | Grey | Alexander Tamanyan | Government House in Yerevan designed by A. Tamanyan | 1999 | September 1, 2000 | Current |
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1,000 dram | 136 x 72 mm | Green/Pink | Yeghishe Charents | An image of old Yerevan | 1999 2001 2011 |
March 1, 1999 | |
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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 | |
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10,000 dram | 150 x 72 mm | Purple | Avetik Isahakyan | An image of old Gyumri | 2003 2006 2008 2012 |
November 1, 2003 | |
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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 | |
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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 | |
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100,000 dram | 160 x 72 mm | Blue/Brown | Abgar V of Edessa | In the center St. Thaddeus transfers the mandylion 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 | |
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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 |
Note: Rates obtained from these websites may be slightly different from the rates the Central Bank of Armenia publishes
References
- ↑ Pomfret, Richard (2001). The IMF and the Ruble zone. Available at: http://www.readcube.com/articles/10.1057/ces.2002.17
- ↑ http://www.memo.ru/hr/hotpoints/caucas1/msg/2005/09/m50530.htm
- ↑ BBC (2013). Available at: http://www.bbc.co.uk/news/magazine-21572359
- ↑ Armenian Central Bank. www.cba.am
- ↑ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinsnotcirculated.aspx?nominal=1
- ↑ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinsnotcirculated.aspx?nominal=2
- ↑ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinsnotcirculated.aspx?nominal=3
- ↑ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinsnotcirculated.aspx?nominal=4
- ↑ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinsnotcirculated.aspx?nominal=5
- ↑ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinsnotcirculated.aspx?nominal=6
- ↑ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinsnotcirculated.aspx?nominal=7
- ↑ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinscirculated.aspx?nominal=1
- ↑ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinscirculated.aspx?nominal=2
- ↑ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinscirculated.aspx?nominal=3
- ↑ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinscirculated.aspx?nominal=4
- ↑ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinscirculated.aspx?nominal=5
- ↑ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinscirculated.aspx?nominal=6
- ↑ "Central Bank Of The Republic Of Armenia". Cba.am. Retrieved 30 May 2013.
- ↑ "Բիզնես 24 - Հայկական Բիզնես Օրաթերթ, 24/08/09". B24.am. 2009-08-24. Retrieved 2011-12-05.
External links
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Wikimedia Commons has media related to Money of Armenia. |
- Central Bank of Armenia
- Armenian Currency Exchange
- Central Bank of Armenia next day USD to AMD exchange rate prediction Engine
- Armemian Dram Sign History, shape, and promotion of Armenian Dram Sign
- Coin Types from Armenia Lists, pictures, and values of Armenian coin types
- Coins of Armenia at CISCoins.net