National currency of Armenia
The national currency of Armenia, the dram, was first issued on November 22, 1993. 1 dram can be divided into 100 lum. The name dram comes from Greek, and it means money. The first recorded use of the name was in the 12th century, when there were silver coins called dram. Today, there are several denominations of coins and banknotes. Coins usually come in 10, 20, 50, 100, 200 and 500 dram denominations, while banknotes are in 1,000, 5,000, 10,000, 20,000, 50,000 and 100,000 dram denominations. The banknotes currently in circulation have been used since 1998, when old notes were removed from circulation. The new banknotes were designed by experts from Germany and England, and feature historical and cultural monuments. For example, in 2001, the 50,000 dram note was changed to honor the 1700th anniversary of the adoption of Christianity in Armenia, and other notes feature famous places and people.