Armenian dram conversion

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Armenian dram

Worldwide use:

  • Armenia
  • Nagorno-Karabakh Republic

Description:

The Dram is the official currency of Armenia. One Dram is made up of 100 Lumas. Coins are issued as 10, 20, 50, 100, 200 and 500 Drams and banknotes are available as 1000, 5000, 10000, 20000, 50000 and 100000 Drams.

"Dram" means "money" in English. In 2001 a 500,000 Dram banknote was issued to celebrate Christianity within the country.

Origin:

The original Dram was used from 1199 to 1375 in the form of silver coins. Then, following the collapse of the Soviet Union in 1991, the Russian Ruble was set up for the Commonwealth of Independent States (CIS) which included Armenia. However, this was not sustainable due to the volatile political and economic status of America at that time and consequently the use of the Ruble diminished in July 1993. Subsequently all of the CIS states set up their own currencies and the Armenia Dram was introduced on 22 November 1993.

Component units:

  • Luma (100)
  • Luma (100)

Date introduced:

  • 22 November 1993

Central bank:

  • Central Bank of the Republic of Armenia

Printer:

  • Central Bank of the Republic of Armenia

Mint:

  • Central Bank of the Republic of Armenia