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[ Armenian Dram, AMD ]

Armenian Dram, AMD

The measure code: AMD, is the fiscal unit of Armenia and the neighboring unrecognized Republic of Artsakh. It was verifiably subdivided into 100 luma. The word measure converts into English as cash and is related with the Greek drachma and the Arabic dirham, just as the English weight unit measure. The main occurrence of a measure cash was in the period from 1199 to 1375, when silver coins called measure were issued. On 21 September 1991, a national submission declared Armenia as a republic autonomous from the Soviet Union. The Central Bank of Armenia, set up on 27 March 1993, was given the selective right of issuing the national cash. In the prompt result of the breakdown of the Soviet Union endeavors were made to keep up a typical cash among CIS states. Armenia joined this ruble zone. Anyway it before long turned out to be certain that keeping up a cash association in the shaky political and prudent conditions of the post-Soviet states would be extremely troublesome. The ruble zone adequately fallen with the one-sided money related change in Russia, 1993. As result the states that were all the while taking an interest were 'pushed out' and compelled to present separate monetary forms. Armenia was one of the last nations to do as such when it presented the measure on 22 November 1993.

 

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