Armenian Dram flag

Armenian Dram

Դրամ

Currency Code

AMD

ISO 051

Symbol

AMD

Native: ֏

Decimal Digits

2

Rounding: 0

Countries

AM

Using this currency

Currency Units

Major Unit

Name: dram

Symbol: ֏

Minor Unit

Name: luma

Symbol:

Value: 0.01

Banknotes

Frequently Used

500 ֏1000 ֏5000 ֏10000 ֏20000 ֏50000 ֏100000 ֏

Coins

Frequently Used

10 ֏20 ֏50 ֏100 ֏200 ֏500 ֏

Plural Forms

English Plural

Armenian Drams

Native Plural

Դրամ

Overview

The Armenian Dram is the currency of Armenia, introduced in 1993 after independence from the Soviet Union. It is managed by the Central Bank of Armenia with an inflation targeting framework.

Economy

  • Armenia is a member of CSTO, EAEU, CIS, OSCE, Council of Europe.
  • Main industries include: Mining, Diamond processing, Metal-cutting machine tools, Forging and pressing machines, Electric motors, Textiles.
  • Armenia is part of the World Trade Organization.
  • Imports are natural gas, petroleum, tobacco products, foodstuffs, diamonds.
  • Major exports include copper, molybdenum, gold, zinc, brandy, jewelry.
  • GDP: $19.5 billion (2023 est.).
  • GDP per capita: $6,621 (2023 est.).
  • Unemployment rate: 18.4% (2023 est.).
  • Inflation rate: 2.1% (2023 est.).
  • Main trading partners: Russia, China, Germany, Iran, Turkey, Georgia.
  • Trade agreements: EAEU membership, EU-Armenia CEPA, Various bilateral agreements.

History

  • Previous currencies used: Soviet ruble, Russian ruble (briefly).
  • The dram was introduced on November 22, 1993, replacing the Soviet ruble. The name 'dram' comes from the Greek word 'drachma' and was historically used for Armenian currency.
  • 1993: Dram introduced, replacing Soviet ruble
  • 1994: First national banknotes issued
  • 2009: Global financial crisis impact and devaluation
  • 2017: Introduction of inflation targeting regime
  • 2020: Economic impact of Nagorno-Karabakh conflict
  • Exchange rate peg: Free floating since introduction.

General Information

  • ISO 4217 Code: AMD
  • Symbols: AMD/֏
  • Currency Subunits: 100 luma
  • Central Bank: Central Bank of Armenia
  • Monetary Policy: Inflation targeting with 4% target. Focus on price stability while supporting economic growth and maintaining financial stability.
  • Bills: 1000 dram, 2000 dram, 5000 dram, 10000 dram, 20000 dram, 50000 dram, 100000 dram
  • Coins: 10 dram, 20 dram, 50 dram, 100 dram, 200 dram, 500 dram
  • USD Exchange Rate: Variable (approximately 385-400 AMD per USD)
  • Pegged To: None (Floating)
  • Capital: Yerevan
  • Population: 2,971,966 (2023 est.)
  • Area: 29,743 km²
  • Languages: Armenian (official), Russian, Kurdish
  • Time Zones: UTC+4 (Armenia Time)
  • Government Type: Parliamentary republic
  • Head of Government: Prime Minister (head of government), President (head of state)
  • Independence: September 21, 1991 (from Soviet Union)
  • Ethnic Groups: Armenian 98.1%, Yezidi 1.2%, Other 0.7%
  • Religions: Armenian Apostolic 92.6%, Evangelical 1%, Other Christian 2.4%, Yezidi 1.3%, Other 0.8%, None 1.1%, Unspecified 0.9%
  • Literacy Rate: 99.8% (2018 est.)
  • Transport: Road network, Zvartnots International Airport, limited rail connections, landlocked geography
  • Communications: Good telecommunications, 76% internet penetration, 4G coverage nationwide
  • Energy: Nuclear 33%, Natural gas 33%, Hydroelectric 31%, Other renewables 3%
  • Countries Using This Currency: Armenia
  • Data Sources: Central Bank: Central Bank of Armenia (cba.am), Economic Data: Statistical Committee of Armenia, World Bank, IMF, Trade Data: Armenian Statistical Service, Demographic Data: Statistical Committee of Armenia, Geographic Data: Ministry of Territorial Administration of Armenia, Historical Data: Central Bank of Armenia archives
  • Last Updated: 2025