Introduction

The Dram is the national currency of the Republic of Armenia.One dram equals 100 Lumas. According to Armenian Law on "The Central Bank of Armenia" , Chapter 6, the CBA is empowered an exclusive right to issue the national currency , to organize and regulate cash money cycle in the territory of the Republic of Armenia. In addition to the banknotes and coins, provided for the circulation the CBA exercises an exclusive right to issue commemorative coins made of precious and non-precious metals and base metals, which are a legal tender in their nominal value.

The dram in nominal value of 10, 25, 50, 100 ,200 and 500 drams was introduced on November 22 1993.Coins in nominal value 10, 20, 50 lumas and 1, 3, 5, 10 drams were introduced in 1994.

Notes in nominal value of 1000 and 5000 drams were introduced in 1994 and 1995.New sample notes in nominal value of 50, 100, 500, 1000, 5000 and 20000 drams , which portray prominent Armenian people, were issued in 1998-1999.

The CBA has issued honoring coins as well. Honoring coins in nominal value of 100 drams were issued in connection with the 32nd Chess Olympiad held in Yerevan in 1996. The coin is made of a cuprum - nikel alloy.It has been assigned a double quality - the regular quality is for circulation and the proof quality is for collecting. The proof quality has been issued 2000 units in number.

In 1997 tne CBA issued a coin "Charents - 100" in nominal value of 100 drams made of a cuprum - nikel alloy.This jubilee coin is dedicated to the 100th anniversary of the famous Armenian poet Yeghishe Charents.

In 1997 the CBA issued a gold coin "Anahit" in nominal value of 25000 drams.The coin is dedicated to Goddess Anahit from the Armenian mythopoeia.The coin is intended for circulation.The coin has two types of edge - milled and plain.The plain-edged coins have been issued 500 units in number and sold as a commemorative coin.

The first jubilee banknote in the history of money circulation of the Republic of Armenia was introduced on June 6 2001, in nominal value of 50000 drams , dedicated to the 1700-th Anniversary of Proclamation of Christianity as a State Religion in Armenia.

The notes of 2001 series in nominal value of 1000 drams were introduced on July 1 2002.These notes depict the same patterns of the 1999 series banknotes of 1000 drams in nominal value but differ only by new security features.

The coins in nominal value of 20 drams were introduced on January 1 2003, and in nominal value of 50, 100, 200, 500 drams on March 31 2003.

The coins of 2004 series in nominal value of 10 drams were introduced on December 1, 2004. Recent samples of banknotes are distinguished by higher security features.

The notes of 2003 series in nominal value of 5000 drams were introduced on July 10 2003.These notes differ from those of the 1999 series by new security features.This change was necessary in order to enhance the security measures against counterfeiting of notes.

The notes in nominal value of 10000 drams introduced on November 1 2003.The notes of the 2006 and 2008 series were the latest issues as to the same denomination.

A new sample note in nominal value 20000 drams was put into circulation in 2007. The note differs from the previous one by measures and some new security features.

The notes in nominal value of 100000 drams were introduced on August 24 2009.

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