Armenian Dram

Name of currency: Armenian Dram

Country / countries used: Armenia, Nagorno-Karabakh Republic

Symbol: դր.

Brief history:

The Armenian dram or դդ is the currency used in Armenia. The word ‘dram’ translates into English as ‘money.’ One dram is equal to 100 luma and the Central Bank of Armenia has the exclusive right of issuing the national currency according to Armenian law.

The first Armenian dram were issued from 1199 to 1375. On 21st September 1991, a national referendum proclaimed Armenia as an independent republic from the Soviet Union however, the old Soviet banknotes were still legal tender until November 1992. The modern dram came into effect on 22nd November 1993.

In 1994, the Central Bank of Armenia introduced coins in denominations of 10, 20 and 50 luma, 1, 3, 5 and 10 dram. In 2003 and 2004, 10, 20, 50, 100, 200, 500 dram coins were introduced. The Central Bank of Armenia also produces commemorative coins.

!n 1993, banknotes of 10, 25, 50, 100, 200 and 500 dram were issued. Following on from this, the 1000 and 5000 dram notes were put into circulation on 24th October 1994 and September 1995. In 1999, a 20’000 dram note was issued, whilst a commemorative 50’000 dram note was issued in 2001 to observe the 1700th anniversary of the Christianity in Armenia. 10’00 dram notes were introduced in 2003.

Since 1st April 2004, 10, 25, 50 and 100 dram notes were no longer legal tender however they may still be exchanged at banks.