ARMENIA

(AMD) Currency News >>

CURRENCY:

Armenian Dram (AMD)

DENOMINATIONS:

NOTE: AMD 50,000, 20,000, 10,000, 5,000, 1,000 and 500

COIN: AMD 500, 200, 100, 50, 20 and 10

US DOLLAR ACCEPTED:

Yes, widely

CREDIT/DEBIT CARDS AND ATMS:

Less problematic in major cities where most major credit cards will be accepted, and there are ATMs. Cash (local or US Dollar) is advised if visiting smaller towns or villages.

CURRENCY EXCHANGE:

This is possible in most hotels, airports and banks in Armenia. If planning to use the local currency, it is advised to carry plenty of small change when travelling in Armenia as many markets and shops may not accept large notes.

TRAVELLER'S CHEQUES:

Recommended to use US Dollar. These are accepted in a few shops and hotels so it is suggested to use alternative forms of payment.

CURRENCY RESTRICTIONS:

No restrictions on local currency. Restrictions do apply on international currencies.

BANKING HOURS:

Mon-Fri 0900-1500.

COUNTRY OVERVIEW:

The Republic of Armenia is a former member of the Soviet Union and lies between Eastern Europe and Western Asia. It is a mountainous region. It is known for being the first state in history to adopt Christianity as its religion. The capital is Yerevan. Although the majority of the population speak Armenian, a sizeable proportion do speak Russian and English is also spoken increasingly. Armenia has its own alphabet which consists of 38 letters.

POPULATION:

Around 4 million

ECONOMY:

Since the end of the Soviet Union, Armenia has relied more on its agricultural output as a mainstay of its economy. Before independence, Armenia had a healthy industry of manufacture, including machinery, textiles, chemicals etc but after the toppling of communist rule and the system of trade that was employed, the country has suffered. However, Armenia has seen its economy find its feet and has been growing steadily.