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Armenian Dram Turns 20

magnis.news

Armenia’s national currency, the dram, has turned 20 today, Armenian Banks reports.

The process of replacing Soviet rubles with the new national currency began on November 22, 1993.

After 10 days, the Central Bank shifted from the policy of maintaining a fixed exchange rate of the dram against the US dollar to the floating exchange rate. This policy has been maintained since then.

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