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Money
Currency: Armenian Dram (AMD) = 100 luma. Dram notes are printed in denominations of AMD20,000, 5000, 1000, 500, 200, 100, 50, 25 and 10. Coins are in denominations of 1 Dram and 50 and 20 luma.
Currency exchange: Foreign currencies can be exchanged at the airports, banks and most hotels and shops during normal opening hours. US Dollars are the most widely recognised foreign currency. Visitors using the national currency are advised to carry plenty of small change as some shops and, particularly markets, may be unable to accept large denominations. There are only five ATMs in Yerevan operated by HSBC.
Credit & debit cards: These are accepted in a few large hotels.
Travellers cheques: These are accepted in a few shops and hotels. Travellers are advised to take travellers cheques in US Dollars.
Currency restrictions: The import and export of local currency is unlimited. The import and export of foreign currency is unlimited, provided declared on arrival; however, cash amounts in excess of US$10,000 or equivalent are prohibited and must be transferred via a bank.
Exchange rate indicators
The following figures are included as a guide to the movements of the Armenian Dram against Sterling and the US Dollar:
| Date | May ’02 | Aug ’02 | Nov ’02 | Feb ’03 | | £1.00= | 844.88 | 850.19 | 882.64 | 926.69 | | $1.00= | 579.76 | 559.00 | 558.14 | 582.00 |
Banking hours: Mon-Fri 0900-1500. Exchange Offices are open until midnight and also operate at weekends and on public holidays.
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