The monetary unit of Armenia: history and interesting facts

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2018-05-12 23:00:31

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What is the monetary unit of Armenia? Crossword puzzle or a crossword puzzle often include in their tasks the question. Convulsions often begin the search for the answer on the Internet. But we need only once to remember the name, never again to be trapped.

The Monetary unit of Armenia (4 letters)

The official currency of Armenia is dram. Its name is derived from the Greek drachma, which was known in the fifth century BC. The monetary unit of Armenia is freely quoted currency of the world. AMD no problem can be exchanged in major banks in most countries of the world.

the monetary unit of Armenia

History

The First mention of drama came about a hundred years before our era, in the reign of king Tigran II the Great.

A Historical figure understood the importance of the introduction currency and strongly developed this process. At that time in use was only metal coins. Paper money was considered too expensive and short-lived.

Modern history

The Twenty-second of November 1993 became a significant day for the economy of the country – in circulation were issued their own currency. At the same time started its functional activities and the national Bank, which has the exclusive right to issue. Its first leader was Isaac Isaakyan.

Like most post-Soviet countries, Armenia has gone through several evolutions in the country. The first two years of independence the population was used by the Soviet and Russian rubles. This was the so-called transition period. After the introduction of its own currency, Soviet rubles could be exchanged during the week at the rate of 200 to 1. Finally this process ended on the seventeenth of March, 1994.

Monetary unit of Armenia received the abbreviation AMD. Such abbreviation is to look in the stands exchangers. The monetary unit of Armenia has a numeric code in the global banking system – 051.

Throughout its history, the value of the currency changed time and again. The monetary unit of Armenia in March 2017 has the following course: about 485 drams per one us dollar. And at the time of issuance in 1993, this ratio was just 20 to 1. In 1994 – 300 to 1, and in 1998 – 500 to 1.

Coins

What is the monetary unit of Armenia (4 letters)? Crossword puzzle you like to solve at your leisure, it may also include other similar questions: "what is a bargaining chip" or "when she appeared in Armenia".

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Fractional money called luma, and they are made of aluminum. For the first time, Lum has appeared in the state in February 1994. On the obverse you can see the year of issue, denomination and framed by two branches.

In 1994, was made the following denominations: ten, twenty, fifty, a Wake up service. Also in circulation were coins of one, three, five and ten drams.

Subsequent inflation has seriously reduced the value of the Armenian money. Most of the citizens lost interest in lumas. The changes in the economy forced the national Bank to review its policy and introduce into circulation new coins in 2003-2004.

First changed value. In circulation there were coins worth ten, twenty, fifty, one hundred, two hundred and five hundred dramas. Was introduced also new materials. In addition to the usual aluminum coins were minted from copper, steel, brass, Nickel and their alloys. The five hundred dram coin was bimetallic. On the obverse appeared the coat of arms of the Republic, as well as a new frame.

the monetary unit of Armenia 4 letters

Commemorative coins

Like most Central banks, the Armenian, too, often numismatists, collectors and investors with the release of the coins on the eve of memorable dates since 1994. As of March 2017, the world saw more than three hundred and fifty varieties of these products.

Materials & ndash; cupronickel, steel, brass, silver and gold of different samples.

Banknotes

At the beginning of the nineties, the production design of the banknotes was entrusted to the German company Giesecke & Devrient. Experts coped with their task, but the authorities later decided to change partner.

The Development of modern-style banknotes were engaged by the British firm Thomas de la Rue, which is one of the world leaders in the production of securities and holograms of different types. Experts appreciated the bright and colorful design. The banknote was manufactured in ten, twenty five, fifty, one hundred, two hundred, five hundred, one thousand and five thousand drachmas. Printed images were mostly buildings and sculptures: railway station, national Museum, temples.

the monetary unit of Armenia 4 letters crossword puzzle

At the turn of the century the economic situation was forced to withdraw from circulation banknotes of fifty, hundred and five hundred dramas. In addition, it has undergone extensive work to improve the protection against forgery.

The result of the reforms was the introduction into circulation of banknotes by ten, twenty, fifty and one hundred thousand drams. That money will, among other things, there were images of prominent Armenians.

the monetary unit of Armenia crossword

Conclusion

Over the years of gaining independence the young Republic suffered many hardships. However, the national currency – one of the main symbols of independence, which I love and appreciate all citizens withoutexception.


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Alin Trodden - author of the article, editor
"Hi, I'm Alin Trodden. I write texts, read books, and look for impressions. And I'm not bad at telling you about it. I am always happy to participate in interesting projects."

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