Currency Rate Armenian Dram to USD
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The Armenian dram (symbol: ֏; code: AMD) is the official currency of Armenia. It was introduced as the official currency in the 20th century.
Buying rate
AMD 0.002344
Selling rate
AMD0.003035
The Armenian Dram (AMD) is the official currency of Armenia, symbolized by "֏" or "AMD". Introduced in 1993, it replaced the Armenian ruble after the collapse of the Soviet Union. The dram is subdivided into 100 smaller units called "luma". The Central Bank of Armenia is responsible for the issuance and regulation of the dram. Since its introduction, the dram has become a symbol of Armenia's independence and economic sovereignty, playing a crucial role in facilitating domestic and international transactions.
Currency Details
Symbol: ֏
ISO Code: AMD
Subunits: 1 Dram = 100 luma
Banknotes and Coins
The AMD is available in both coins and banknotes:
Coins:
10 luma
20 luma
50 luma
100 luma
200 luma
500 luma
1000 luma
Banknotes:
1000 dram
5000 dram
10000 dram
20000 dram
50000 dram
100000 dram
The banknotes and coins of the AMD feature distinctive designs and showcase various aspects of Armenian culture, history, and natural beauty.
History and Background
The AMD's history dates back to the early 1990s, following Armenia's independence from the Soviet Union. The currency replaced the Soviet ruble, reflecting the country's transition to a market economy. The dram derives its name from an ancient Armenian monetary unit used in the Middle Ages.
Economic Significance
The AMD plays a crucial role in Armenia's economy, supporting domestic transactions, foreign trade, and investment. Armenia's economy is diverse, with sectors such as agriculture, mining, technology, and tourism contributing to its growth. The stability and value of the dram are influenced by factors like economic policies, global market trends, and geopolitical developments.
Usage and Exchange
The AMD is widely accepted throughout Armenia for all types of transactions, from everyday purchases to major investments. Foreign currency exchange services are readily available in banks, exchange bureaus, and ATMs across the country. Major credit cards are also commonly used, particularly in urban areas and tourist destinations.
Conclusion
The Armenian Dram is not just a currency; it embodies Armenia's resilience, heritage, and economic aspirations. Understanding the AMD is essential for anyone engaging with Armenia's vibrant economy and cultural landscape. The dram's stability and accessibility contribute to Armenia's economic development and its integration into the global marketplace.
Currency Details
Symbol: ֏
ISO Code: AMD
Subunits: 1 Dram = 100 luma
Banknotes and Coins
The AMD is available in both coins and banknotes:
Coins:
10 luma
20 luma
50 luma
100 luma
200 luma
500 luma
1000 luma
Banknotes:
1000 dram
5000 dram
10000 dram
20000 dram
50000 dram
100000 dram
The banknotes and coins of the AMD feature distinctive designs and showcase various aspects of Armenian culture, history, and natural beauty.
History and Background
The AMD's history dates back to the early 1990s, following Armenia's independence from the Soviet Union. The currency replaced the Soviet ruble, reflecting the country's transition to a market economy. The dram derives its name from an ancient Armenian monetary unit used in the Middle Ages.
Economic Significance
The AMD plays a crucial role in Armenia's economy, supporting domestic transactions, foreign trade, and investment. Armenia's economy is diverse, with sectors such as agriculture, mining, technology, and tourism contributing to its growth. The stability and value of the dram are influenced by factors like economic policies, global market trends, and geopolitical developments.
Usage and Exchange
The AMD is widely accepted throughout Armenia for all types of transactions, from everyday purchases to major investments. Foreign currency exchange services are readily available in banks, exchange bureaus, and ATMs across the country. Major credit cards are also commonly used, particularly in urban areas and tourist destinations.
Conclusion
The Armenian Dram is not just a currency; it embodies Armenia's resilience, heritage, and economic aspirations. Understanding the AMD is essential for anyone engaging with Armenia's vibrant economy and cultural landscape. The dram's stability and accessibility contribute to Armenia's economic development and its integration into the global marketplace.
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