This is a foreign exchange guide to Armenia, the Armenian Dram currency plus sending AMD transfers and travel tips.
In this Armenia currency guide we take a look at :
- Armenian Dram info - general info about the Armenian Dram
- Armenian Dram in the markets - recent AMD moves and predictions from the FX markets
- Travelling in Armenia - currency & money saving tips
- Buying Armenian Dram cash online - travel money for Armenia
- Sending money to Armenia - save on Armenian Dram bank transfers to Armenia
- Armenian Dram exchange rates - latest & historic exchange rates.
Armenian Dram (AMD) general currency information
What is the Armenian Dram currency code and symbol?
The three letter currency code for the Armenian Dram is AMD.
Is the Armenian Dram a closed currency?
Yes the Armenian Dram is a closed currency. Which means that you may find it difficult to purchase the currency (AMD) before departure and will probably need to buy it upon arrival. If you do manage to buy some of the currency or have some left over from a previous trip, make sure you are aware if you are allowed to bring this closed currency into the country.
For more information and a full list of closed currencies please refer to our guide: What is a closed currency?
Which countries use the Armenian Dram?
It is the domestic currency in Armenia.
The dram (Armenian: Դրամ; code: AMD) is the monetary unit of Armenia and the neighboring unrecognized Republic of Artsakh. It is subdivided into 100 luma (Armenian: լումա). The word "dram" translates into English as "money" and has the same linguistic derivation with the Greek drachma and the Arabic dirham. The first instance of a dram currency was in the period from 1199 to 1375, when silver coins called dram were issued.
Armenian Dram (AMD) in the markets
The interactive chart below shows the USD to AMD exchange rate and trend for the previous 3 months:
Travel, Currency and Money saving tips for Armenia
Few nations have histories as ancient, complex and laced with tragedy as Armenia. And even fewer have a culture that is as rich and resilient. This is a destination where you will be intrigued by history, awed by monuments, amazed by the landscape and charmed by down-to-earth locals.
The simply extraordinary collection of medieval monasteries scattered across the country is the number-one attraction, closely followed by a dramatically beautiful landscape that is perfectly suited to hiking and other outdoor activities. And then there's the unexpected delight of Yerevan – one of Europe's most exuberant and endearing cities. Put together, they offer an enticing and hugely enjoyable travel experience. It's not an easy place to explore – roads are rough, transport is often hard to navigate and those who don't speak Armenian or Russian may find communication difficult – but travelling here is as rewarding as it is revelatory.
What currency to use in Armenia?
Armenia's currency is the Armenian Dram (AMD). US Dollars, Euro and Russian Roubles are widely used and often prices for goods and services are quoted in these currencies but by law, payment must be made in Armenian Dram.
There are many ATMs in Yerevan which accept major credit cards and debit cards with the Maestro/Cirrus or Visa sign displayed on the card. Outside the capital however you will need to carry sufficient local currency. Take note Western Union does not operate in Armenia, however, MoneyGram currently does.
How to get around in Armania?
Yerevan has cheap, easy-to-use metro systems. Other urban transport comprises a mixture of marshrutky and buses. Marshrutky will stop to pick up or drop off passengers anywhere along their routes, but they can get very crowded. Route boards are often in local script. Taxis are plentiful. Most in Yerevan are metered. For others, agree on the fare before you get in. A ride of 3km or so normally costs around US$2 in Tbilisi or Yerevan, US$3.50 in Baku if metered, much more unmetered.
Almost every town and village has some sort of bus or (more commonly) minibus service, the latter being known widely as a marshrutka (plural marshrutky). Services can run hourly between larger towns but rural villages often have just one single minibus that leaves for the regional centre in the morning then returns from the bazaar after lunch.
There are a number of rental car companies available in Yerevan, with many models to choose from at varying costs. This will allow you to be more free while getting around the country as you’ll have to rely only on yourself. You must present your passport and driver's license in order to rent a car.
There are several daily trains toward Gyumri and one to Yerakhs, at the closed border with Nakhichevan. On summer weekends, one daily train operates from the northern Almast station to Lake Sevan, all the way to Shorzha on the far side.
Travel tips for Armenia.
Yerevan, the capital, is a great place to start you trip and spend a day or 2. Yerevan is incredibly old, 2800 years to be exact, which is 28 years older than Rome. Thus, it is drenched in interesting history. Contradictory to what you might expect from a Soviet era city, it is quite metropolitan. It has a lively nightlife scene with clubs, hip restaurants and European style bars. Mixed with the many remains of older days, like the typical pink colored soviet buildings and monuments or the 17th century neighborhood Kond, Yerevan has its very own appearance. You won’t find any grand landmarks here, rather it is just a nice place to absorb the atmosphere and familiarize yourself a bit with the country you are in.
summer in Armenia, especially in the capital, is hot and rather dry with average temperature – 28-35 °C and few rainy days. Thus, it is better to take comfortable clothing suitable for hot Armenian days. However, if you decide to visit the countryside of Armenia in summer, consider that the temperature there is lower than in the capital and in the evening you may need some warm clothes. The most pleasant season in Armenia is the beginning of autumn, as the weather is so mild, pleasant and warm with few rainy days.
The most popular ski resort of Armenia is Tsakhkadzor which offers great eqipment and well-developed ski trails. The rope-way built on the slopes of Mount Teghenis ensures maximum safety for the visitors.
Travel money for Armenia
As mentioned above, the Armenian Dram is a closed currency. Which means that you may find it difficult (or be permitted) to purchase the currency (AMD) before departure and will need to buy it upon arrival in Armenia.
For these types of destinations, using a pre-paid travel card is a good solution. As no travel cards support loading closed currencies like the AMD you will incur currency conversion or foreign transaction fees if you use a travel money card in Armenia.
However, using a pre-paid travel card is still a good idea as you can avoid ATM fees and also you can avoid using (and losing!) your main bank or debit/credit card.
Armenia Trip Checklist
Sending money to Armenia
When searching around for information on how to get a good exchange rate when sending money to Armenia you need to start with finding out the latest Armenian Dram foreign-transfer exchange rate.
Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save (we make that calculation easy here).
Get a better deal for foreign transfers to Armenia
When sending money to Armenia it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Armenian Dram amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted AMD amount will be transfered to the recipient account you specify in Armenia.
Use our Send to AMD calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Armenian Dram deposited into the recipient bank account and less margins and fees kept by the banks!