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
Number051
Denominations
Subunit
 1/100luma (լումա)
PluralThe language(s) of this currency does not have a morphological plural distinction.
Symbol֏ (֏) or դր.
Banknotes
 Freq. used500֏, 1000֏, 5000֏, 10,000֏, 20,000֏, 50,000֏, 100,000֏
 Rarely used50֏, 100֏
Coins10֏, 20֏, 50֏, 100֏, 200֏, 500֏
Demographics
User(s) Armenia
 Artsakh
Issuance
Central bankCentral Bank of Armenia
 Websitewww.cba.am
Valuation
Inflation2.7% (Armenia only)
 Source[1], January 2018
Pegged withArtsakh dram

The dram (Armenian: դրամ; sign: ֏; code: AMD) is the monetary unit of Armenia and the neighboring unrecognized Republic of Artsakh (Nagorno-Karabakh). 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, as well as the English weight unit dram. 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 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[edit]

The dram Sign

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.



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 the authorized central bank distributors.[2][3]

First series (1994-2002)[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 their low nominal value.[4][5]

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[6] 16.0 mm 0.59 g aluminium alloy Plain 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[7] 18.0 mm 0.75 g Plain
AM 1994 50 luma.pngAM 1994 averse.png 50 luma[8] 20.0 mm 0.93 g Plain
AM 1994 1 dram.pngAM 1994 averse.png 1֏[9] 22.0 mm 1.39 g Reeded
AM 1994 3 dram.pngAM 1994 averse.png 3֏[10] 24.0 mm 1.63 g Reeded
AM 1994 5 dram.pngAM 1994 averse.png 5֏[11] 26.0 mm 1.98 g Plain
AM 1994 10 dram.pngAM 1994 averse.png 10֏[12] 28.0 mm 2.30 g Plain Current
  • All coins bear the year of the first issue (1994).

Second series (2003-present)[edit]

In 2003 and 2004, a new series of coins was introduced in denominations of 10-, 20-, 50-, 100-, 200 and 500 dram.

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֏[13] 20.0 mm 1.3 g aluminium alloy Reeded 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֏[14] 20.5 mm 2.75 g Copper-plated steel Plain 2003 January 1, 2003
AM 2003 50 dram r.pngAM 2003 50 dram a.png 50֏[15] 21.5 mm 3.5 g Brass-plated steel Reeded March 31, 2003
AM 2003 100 dram r.pngAM 2003 100 dram a.png 100֏[16] 22.5 mm 4.0 g Nickel-plated steel Reeded
AM 2003 200 dram r.pngAM 2003 200 dram a.png 200֏[17] 24.0 mm 4.5 g Alloy of copper,
aluminum, nickel
Reeded
AM 2003 500 dram r.pngAM 2003 500 dram a.png 500֏[18] 22.0 mm 5.0 g Inner ring: copper-nickel

Outer ring: alloy of copper,
aluminum, nickel

Segmented (Plain and Reeded sections)
  • All coins bear the year of the first issue (2003 or 2004).

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.[19] Notes for 1,000 and 5,000 dram were put into circulation later.

First series (1993-1995)
Image Value Dimensions Main Color Description Date of
Obverse Reverse Obverse Reverse printing issue annulment
10 Armenian dram - 1993 (obverse).png 10 Armenian dram - 1993 (reverse).png 10 dram 125 x 62 mm Brown and 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 and 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 and 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 and 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 and 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 and 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 and 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 and 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 pixel per millimeter. For table standards, see the banknote specification table.

Second series (1998-2017)[edit]

Banknotes of 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 in commemoration of the 1700th anniversary of the adoption of Christianity in Armenia. A 500 dram commemorative note was issued on 22 November 2017 to commemorate the story of Noah's Ark.

Second series (1998–2017)
Image Value Dimensions Main Color Description Date of
Obverse Reverse Obverse Reverse printing issue annulment
50 Armenian dram - 1998 (obverse).png 50 Armenian dram - 1998 (reverse).png 50֏ 122 x 65  mm Pink, blue and 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֏ Blue and grey Viktor Hambardzumyan Byurakan Observatory
500 Armenian dram - 1999 (obverse).png 500 Armenian dram - 1999 (reverse).png 500֏ 129 x 72 mm Grey Alexander Tamanian Government House in Yerevan designed by Alexander Tamanyan 1999 September 1, 2000 Current
1,000 Armenian dram - 1999 (obverse).png 1,000 Armenian dram - 1999 (reverse).png 1,000֏ 136 x 72 mm Green and pink Yeghishe Charents An image of old Yerevan depicting the government building of the First Republic 1999
2001
2011
2015
March 1, 1999
5,000 Armenian dram - 1999 (obverse).png 5,000 Armenian dram - 1999 (reverse).png 5,000֏ 143 x 72 mm Yellow and 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֏ 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֏ 155 x 72 mm Yellow, red and 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֏ 160 x 79 mm Brown and 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֏ 160 x 72 mm Blue and brown Abgar V of Edessa In the centre St. Thaddeus transfers the mandylion to Abgar V of Edessa.[20] 2009 August 24, 2009
These images are to scale at 0.7 pixel per millimeter. For table standards, see the banknote specification table.

Third series (2018-present)[edit]

A third series of Armenian dram banknotes will be issued in 2018, to commemorate the 25th anniversary of Armenia's national currency.[21] All denominations for this series are the same as its previous issues, with the 2,000 dram banknote as a newly introduced denomination, the 50,000 dram banknote re-issued for this series and the omission of the 100,000 dram banknote for this issue.

Third series (2018-present)
Image Value Dimensions Main Color Description Date of
Obverse Reverse Obverse Reverse printing issue annulment
500 Armenian dram - 2017 (obverse).png 500 Armenian dram - 2017 (reverse).png 500 ֏ 140×76 Brown and grey Noah's Ark, Etchmiadzin Cathedral on the background of Mount Ararat Noah, his family members and animals on the background of Mount Ararat 2017
1,000 ֏ Violet Paruyr Sevak 2018
2,000 ֏ Brown Tigran Petrosian 2018
5,000 ֏ Red William Saroyan 2018
10,000 ֏ Purple Soghomon Soghomonian (Komitas) 2018
20,000 ֏ Blue Ivan Aivazovsky 2018
50,000 ֏ Gold Saint Gregory the Illuminator 2018
These images are to scale at 0.7 pixel per millimeter. For table standards, see the banknote specification table.

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 currency other than the Artsakh 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

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. ^ Armenian commemorative coins for sale
  3. ^ Armenian commemorative coins cathalogue
  4. ^ BBC (2013). Available at: https://www.bbc.co.uk/news/magazine-21572359
  5. ^ Armenian Central Bank. www.cba.am
  6. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinsnotcirculated.aspx?nominal=1
  7. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinsnotcirculated.aspx?nominal=2
  8. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinsnotcirculated.aspx?nominal=3
  9. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinsnotcirculated.aspx?nominal=4
  10. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinsnotcirculated.aspx?nominal=5
  11. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinsnotcirculated.aspx?nominal=6
  12. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinsnotcirculated.aspx?nominal=7
  13. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinscirculated.aspx?nominal=1
  14. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinscirculated.aspx?nominal=2
  15. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinscirculated.aspx?nominal=3
  16. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinscirculated.aspx?nominal=4
  17. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinscirculated.aspx?nominal=5
  18. ^ Central Bank of Armenia. Available at: https://www.cba.am/en/SitePages/detailsnccracoinscirculated.aspx?nominal=6
  19. ^ "Central Bank Of The Republic Of Armenia". Cba.am. Retrieved 30 May 2013.
  20. ^ "Բիզնես 24 - Հայկական Բիզնես Օրաթերթ, 24/08/09". B24.am. 2009-08-24. Retrieved 2011-12-05.
  21. ^ "Arguments in Armenia over new banknote design". JAMnews. 2017-11-27. Retrieved 2018-01-12.

External links[edit]