Today marks 25th anniversary of Armenia’s national currency
YEREVAN, NOVEMBER 22, ARMENPRESS. Today marks the 25th anniversary of the national currency of Armenia – the dram.
On this day in 1993, the national currency, the dram (AMD), of 10, 25, 50, 100, 200 and 500 dram denominations was introduced – ending the circulation of Soviet and Russian banknotes and laying the foundation for the main financial structures, including the banking system of Armenia.
Between 1994-1995 the coins of 10, 20, 50 luma and 1, 3, 5, 10 dram denominations of aluminum alloy, as well as the banknotes of 1000 and 5000 dram denominations were put into circulation.
Starting from 1998, the banknotes of the second series of 50, 100, 500, 1000, 5000 and 20000 dram denominations were introduced. These banknotes meet modern requirements in terms of security, endurance, quality and design.
In 2001, the jubilee banknote in nominal value 50000 dram dedicated to 1700th anniversary of adoption of Christianity in Armenia was put into circulation.
In the period 2003-2004, the coins of the second series of 10, 20, 50, 100, 200 and 500 dram denomination were introduced.
In 2009, 100,000 dram denominated banknote (the highest nominal value) was put into circulation.
In 2008, the year that marked the 15th anniversary of the currency, a bronze statue symbolizing the Armenian dram was erected outside the Central Bank headquarters in Yerevan, Armenia.
This year, the Armenian Dram Museum was opened in Shushi, Artsakh, where ancient currencies, coins and banknotes from the Sophene era, times of the Artashes dynasty, Tigran Mets, Artavazd B, Cilician Armenia, Russian Empire and Soviet Union are displayed.
On the occasion of the 25th anniversary of the Armenian national currency, the dram, third generation banknotes will be introduced from November 22.
The new banknotes will be made from high quality composite materials, which in turn will ensure an average 3-4 times higher lifecycle. The bills also feature the best modern security features, as well as designs for visually impaired persons.
The newly introduced denomination will be the 2000 dram banknote.
The third series 1000 dram banknote depicts Paruyr Sevak, the 5000 dram depicts writer William Saroyan, the 10,000 dram depicts Komitas, the 20,000 bill depicts Ivan Ayvazovsky, and the 50,000 bill depicts St. Gregory the Illuminator.
The new banknotes - 10,000; 20,000 and 50,000 bills will be put into circulation from today. The other new bills – 1000, 2000 and 5000 denominations will be introduced from December 25.
The second generation banknotes will remain in circulation until natural wearout.
Edited and translated by Stepan Kocharyan