Armenian money: description and interesting facts

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Armenia has an ancient and rich history. There is a hypothesis that this state existed in the sixth century BC. e. At that time, these were the lands of Urartu, conquered by the Aryans. After some time, Armenia appeared as a separate independent state. And then the first national money of this country was made.

A bit of history

The state currency of Armenia appeared at the beginning of the first century AD. e. and called dram. The dram was equal to 100 lumas (hundredths). King Tigran the First was depicted on the coins. Then the images of his followers were minted. The coins were made of silver and did not differ in weight from other metallic currency.

During the reign of the Mamluks, Armenian money temporarily ceased to exist. When the country became part of the Russian Empire, rubles were in use. Again, the money of Armenia was printed only in 1917, after the October Revolution. A new currency was made in London. Then this money was replaced by Soviet rubles.

Revival of the Armenian currency

The Central Bank of Armenia was founded in 1993. He returned the national currency to use, setting the rate of the Armenian dram. At first, money was printed in Germany, and until 1995, banknotes had 8 denominations. They were all done in a classic style with light margins and simple printing.

Coins were minted from aluminum: 3 types of lums and 4 denominations of drams. Despite the fact that their design was quite simple, at present, money made in the period from 1993 to 1998 acquires the status of collectors and is valued more and more every year.

Banknote design

Modern money of Armenia in the form of banknotes has 9 denominations. But banknotes of 50, 100 and 500 drams were withdrawn from circulation. Modern Armenian banknotes are constantly updated. Anti-counterfeit protection elements are being added.

50 drams sized 122x65 mm were made with a pink tint. They were released in 1998, and in 2004 they were withdrawn from use. On the front side of the bills there was an image of the composer Khachaturian, next to it - the building of the Yerevan theater. On the reverse side - a ballet episode and Mount Ararat.

100 AMD, size 122x65 mm, printed with a blue tint. The obverse featured a portrait of the astrophysicist Ambartsumian. To the right of it is a piece of space. On the reverse side is the Byurakan observatory. Banknotes were issued only in 1998, and in 2004 they were withdrawn from use.

500 drams sized 129x72 mm were printed in gray-red colors. On the front side wasportrait of the architect Tamyanin. On the reverse side of the banknote there is an image of the building of the Armenian government. Banknotes were issued only in 1999 and were withdrawn from circulation in 2004.

The rest of the money of Armenia in the form of banknotes is still in circulation (nominal values are indicated in drams):

• 1000 - green-pink color, size 136x72 mm. The banknote depicts the writer Yeghishe Charents, Mount Ararat and a horse with a cart. Published in 1999, 2001 and 2011
• 5000 - brown-green color, size 143x72 mm. The banknote depicts the writer Hovhannes Tumanyan, a painting and a natural landscape. Printed in 1999, 2003, 2009 and 2012
• 10000 - purple, size 150x72 mm. The banknote depicts the writer Avetik Isahakyan and a view of Gyumri. Printed in 2003, 2006, 2008 and 2012
• 20000 - in yellow, orange and brown shades, size 155x72 mm. The banknote depicts the artist Saryan and a fragment of the landscape. Printed in 1999, 2007, 2009 and 2012
• 50000 - gray-brown color, size 160x79 mm. The banknote depicts the Cathedral, St. Gregory, Tsar Trdat the Great and the monastery against the backdrop of Mount Ararat. Printed in 2001
• 100000 - blue-brown colors, size 160x72 mm. The banknote depicts King Abgar and the Apostle Thaddeus. Printed in 2009

Coin design

Modern Armenian money in the form of coins has six denominations. They were minted between 2003 and 2004. All coins are made of steel with nickel, copper or brass plating. Except 10 AMD. It is made of aluminium. Coins denomination200 and 500 are struck from nickel-plated copper alloys. Collectible dramas were made from gold, silver and copper-nickel alloys.

Currently, dram-coins are not used in everyday life, but are still the official currency. The denomination is indicated on the reverse of the coins. The signature "dram" is engraved next to it. The edging pattern is different. On the obverse is the Armenian coat of arms. On the circle of coins (except for the denomination of ten drams) - the inscription "Central Bank of the Republic of Armenia".

Currency rates and exchanges

In 1993 modern money began to be printed in Armenia. The exchange rate against the ruble at that time was 1:200. In 2012, the data changed to a ratio of 12.84:1. In accordance with the international situation and the situation inside the country, the exchange rate of the Armenian dram also changes periodically. At the end of 2016, it is 13.54:1.

The exchange can be made in large hotels, shops, shopping and entertainment centers. But in the provinces, exchangers are much less common. There, the currency is changed mainly in banks. Since there are not very many ATMs installed in Armenia yet, the use of debit and credit cards is not on a grand scale. In provincial cities, the population is accustomed to using only cash.