The official currency of Armenia, known as the dram, was first introduced into circulation on November 22, 1993. Each dram is subdivided into 100 smaller units called luma. The word “dram” itself is derived from the Greek term meaning “money,” a nod to the historical influence of ancient coinage. Notably, the earliest documented use of the word “dram” dates back to the 12th century, when silver coins bearing this name were minted and used in medieval Armenia.
Today, the Armenian dram is available in a range of denominations in both coins and banknotes. Coins are typically issued in values of 10, 20, 50, 100, 200, and 500 drams. Banknotes are more varied, with denominations including 1,000, 5,000, 10,000, 20,000, 50,000, and 100,000 drams. The current series of banknotes was introduced in 1998, replacing the earlier series that had been in use following independence. These newer notes were meticulously designed with the assistance of professional currency designers from Germany and the United Kingdom.
Each banknote features richly symbolic and culturally significant imagery, portraying key aspects of Armenia’s historical and artistic legacy. For instance, the 50,000 dram note underwent a special redesign in 2001 to commemorate the 1700th anniversary of Armenia’s adoption of Christianity as a state religion — a monumental event in Armenian history. Other banknotes depict notable Armenian figures, architectural landmarks, and scenes that highlight the country’s deep cultural heritage and national pride.
