In this article, We learn about "Armenian Dram (AMD)".Let's Go!
The Armenian Dram (AMD) is the official currency of Armenia, a landlocked country in the South Caucasus region.
The Central Bank of Armenia is responsible for issuing and managing the currency.
The dram is subdivided into 100 smaller units called lumas, but lumas are not used in practice anymore due to their low value.
The Armenian Dram was introduced on November 22, 1993, replacing the Soviet ruble at a rate of 1 dram = 200 rubles.
This change occurred after the collapse of the Soviet Union and Armenia’s declaration of independence in 1991.
Banknotes are available in denominations of 1,000, 2,000, 5,000, 10,000, 20,000, 50,000, and 100,000 drams, while coins come in denominations of 10, 20, 50, 100, 200, and 500 drams.
The 10, 20, and 50 dram coins are rarely used due to their low value, resulting from the relatively high inflation experienced by the country since the introduction of the dram.
The value of the Armenian Dram is influenced by factors such as domestic economic conditions, the Central Bank of Armenia’s monetary policies, and global economic trends.
The dram’s exchange rate has experienced fluctuations over the years but has generally been relatively stable compared to some other currencies in the region.
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