How can I get the best exchange rates between US dollar and the Armenian dram?
The Armenian dram is currently trading between 470 and 480 to 1 US dollar, on a free-float basis with the US dollar and other currencies.
If you are travelling to Armenia, or maybe going to send money to friends or family in the country, it is a good idea to do some research on how to get the best exchange rate.
One general tip for getting the best exchange rate is to first know the mid-market rate of the currency (shown at the top of this page). Once you know the mid-market rate, you can use this information to compare the exchange rate you are offered from different providers such as banks or online money transfer services.
The US dollar is the most traded currency in the world. The world’s unofficial reserve currency, it can be found in most major currency pairs. In forex, it’s an important benchmark and target rate for countries that fix or peg their currencies against its value. It is also used as the standard currency for oil, precious metals and other commodities.
$1, $5, $10, $20, $50, $100
1c, 5c, 10c, 25c, 50c
The dram is the official currency of Armenia and its neighbor, the Nagorno-Karabakh Republic. It was introduced in 1993, when Armenia broke from the post-Soviet states “ruble zone.”
luma (not used)
֏1000, ֏5000, ֏10 000, ֏20 000, ֏50 000, ֏100 000
10, 20, 50, 100, 200, 500
What affects exchange rates between the US dollar and the Armenian dram?
The exchange rate between the US dollar and the Armenian dram may be affected by many different economic and political factors. These factors are not only limited to the respective countries, but also include conditions all over the world.
In addition to this, the Armenian dram is also affected by conditions in the unrecognized Nagorno-Karabakh Republic, where the currency is widely used. A separate currency for the Republic, the Nagorno-Karabakh dram was introduced in 2005 and circulates alongside the Armenian dram. However, despite officially being legal tender, it is commonly sold as souvenirs due to the low nominal value in coins and notes issued.
There is some uncertainty regarding the Armenian Central Bank’s exchange rate policy since some experts believe that a “softer” approach should be followed, rather than drastic measures like devaluing the dram against the dollar. The central bank seems to be of the belief that remedies may sometimes prove to be more troublesome than the problems themselves.
If this concern becomes common, it is going to have a negative impact on the Armenian dram and investors may lose their confidence in it. To ensure it doesn’t fall too much, authorities in Armenia may have to intervene, potentially causing more problems in the future.
Send money from USD to AMD
How does the Armenian dram trade against the US dollar historically?
The Central Bank of Armenia follows a floating exchange rate policy, with regulators intervening only when the value of the Armenian dram faces extreme and short-term fluctuations.
Historically, the Armenian dram has proven to be the most stable currency in the region it belongs to. The currency depreciated 20-21% over the past few years, whereas other countries in the same region, like Kazakhstan, Belarus, and Russia, experienced depreciations in their currencies that were twice that number.
Although the government of Armenia maintains the Armenian dram (AMD) as a freely convertible currency under a managed float system, the Central Bank of Armenia intervened in the foreign exchange market between September 2008 and March 2009 in an effort to maintain the value of the AMD.
US Dollar to the Armenian Dram for the last 10 years
1 USD =
US Dollar to the Armenian Dram for the last 10 months
1 USD =
US Dollar to the Armenian Dram for the last 10 days
1 USD =
Market rate for common transfer amounts USD to AMD
Adrienne Fuller is the head of publishing at Finder. With a decade of experience creating guides in finance and education, she aims to deliver the accurate and transparent information she wishes she had when she made some of life's important financial decisions. For the past 3 years she has been the publisher of money transfers, helping readers save when they send money all over the globe. She has a BA from Colorado College and loves to hike with her two Catahoula dogs around her home in San Diego.
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