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LOCAL CURRENCY IN ARMENIA

Need to know how much is your money worth in Armenia? The local currency in Armenia is called Dram.

The Armenian Dram is issued and managed by the Central Bank of Armenia. To find out the current currency exchange rates for Dram to other major currencies of the world, click on foreign currency rates.

Armenian Currency Information
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The currency used in Armenia is called as the Dram. This currency is denoted with the currency sign luma and the ISO 4217 Code for the Armenian Dram is AMD. The Dram, is the official currency of the Armenia . It is divided into 100 smaller units called Luma.

The constitution of Armenia provides that the Armenia government shall have the power to print the Armenian Dram and Luma coins to be used as a legal tender in Armenia. The Armenian Dram bank notes and Luma coins are both designated as "legal tender" in payment of debts.

The Armenian Dram bill uses the decimal system, consisting of 100 equal units.

The symbol luma, usually written before the numerical amount, is used for the Armenian Dram.

Currently printed bank notes denominations are 1000 (hazar), 5000 (hing hazar), 10 000 (tas hazar), 20 000 (ksan hazar), 50 000 (hisun hazar), 100 000 (haryur hazar) dram and the coins are minted in the denominations of 10 (tas), 20 (ksan), 50 (hisun), 100 (haryur), 200 (yerkuharyur), 500 (hingharyur) dram .

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The Effect of Balance of Trade and Investment on Armenian Dram
Financial analysts regularly cite the balance of trade and investment in Armenia as the most important influence on the value of the Dram. The difference between what the Armenia exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Dram exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Dram exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Armenian Dram.
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