ArmInfo. On November 22, 2023, the Central Bank of Armenia puts into circulation 10, 20, 50, 100, 200 and 500 dram circulation commemorative coins dedicated to 30 years of national currency. This is noted in the message of the Central Bank of the Republic of Armenia.
The message states that, circulation commemorative coins repeat the ordinary coins in their technical characteristics and the reverse design. The obverse of these coins, as a rule, is dedicated to a certain event or phenomenon. Circulation commemorative coins are issued in limited quantities, circulate along with the ordinary coins and are legal tender at their face value. Obverses: the logotype of the 30 years of national currency, the year of issue "2023", inscriptions "REPUBLIC OF ARMENIA" in English and Armenian.
Reverses: the face values of the coinsn in English and Armenian - "10 DRAM", "20 DRAM", "50 DRAM", "100 DRAM", "200 DRAM", "500 DRAM", national ornaments.
Designed by Vardan Vardanyan (obverses), Karapet Abrahamyan (reverses).
The coins are minted at The Royal Mint, Great Britain.
On November 22, 1993, the national currency, the dram, was put into circulation in independent Armenia. In 2023, the dram turned 30 years old, and during these years, both the banking system and the Armenian dram were able to go through a path full of challenges and create a worthy history. It is not difficult to imagine what challenges Armenia, which had just become independent, faced then. At that time, the Central Bank was just forming monetary policy and financial supervision functions, and at that time there were almost no state reserves. Under these conditions, the most difficult thing was to build trust in the financial system and the national currency. And yet, thanks to teamwork, it was possible to achieve trust in the Armenian dram and the financial system. Since 2003, November 22 is also annually celebrated as the day of bank workers, whose number today reaches 15 thousand in 18 banks and 523 branches.
Let's remind that the exchange rate of AMD and US dollar was 14.5 AMD/$1 in the first days of AMD circulation. In January 1994, the exchange rate did not change much and was 14 AMD/$1, but at the end of the same year it increased to 412 AMD/$1, which is explained by the change in the fixed exchange rate policy to a floating exchange rate policy, which continues to be maintained today. After 30 years, as of November 22, 2023, the estimated exchange rate of AMD against US dollar is 402.41 AMD/$1.
