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ABOUT THE CBA
History
Money cycle in the Republic of Armenia
The national currency, the dram, of 10, 25, 50, 100, 200 and 500 dram denomination was introduced on November 22, 1993, at an exchange rate of 200 ruble for one dram.
1-500 ruble denominated banknotes of the former Soviet Union of the 1961-1992 issue were allowed to co-circulate with the dram up until March 17, 1994.
Pic. RA, banknotes of the first series of 25 and 200 dram denomination
Between 1994-1995 the coins of 10, 20, 50 luma and 1, 3, 5, 10 dram denomination of aluminum alloy, as well as the banknotes of 1000 and 5000 dram denomination were put into circulation.
Starting from 1998, the banknotes of the second series of 50, 100, 500, 1000, 5000 and 20000 dram denomination were put into circulation. These banknotes meet modern requirements in terms of security, endurance, quality and design.
Pic. RA, banknotes of the second series of 1000 and 20000 dram denomination
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 put into circulation.
In the period 2004-2005, 50 and 100 dram denominated banknotes of the 1993-1995 and 1998 series were withdrawn from circulation. These were ceased to be a legal tender in the Republic of Armenia but allowed to be exchanged at their par in commercial banks and the Central Bank of Armenia.
In 2009, 100000 dram denominated banknote (the highest nominal value) was put into circulation.
Pic. RA, banknotes of the second series of 50000 and 100000 dram denomination |
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