Which currency was introduced in Armenia in 1993?

The currency introduced in Armenia in 1993 was the Armenian dram.

The dram became Armenia’s official currency on 22 November 1993, replacing the Soviet ruble after the country’s independence. The Central Bank of Armenia issues it, and its ISO 4217 code is AMD. One dram is divided into 100 luma, although luma coins are no longer important in everyday transactions.

The word dram is related to the Greek drachma and has a long history in Armenian monetary terminology. Medieval Armenian silver coins were also called dram. Modern banknotes and coins use Armenian script and imagery connected with the country’s cultural heritage.

The dram should not be confused with the Georgian lari or Azerbaijani manat, which are the currencies of Armenia’s neighbors. Armenia’s currency was established during the difficult economic transition that followed the dissolution of the Soviet Union, making its launch an important symbol of monetary independence.