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Currency

The monetary unit in Armenia is the DRAM, often abbreviated to AMD. The dram is divided into 100 louma. Notes are issued in denominations of 10, 25, 50, 100, 200, 500, 1000, 5000, 20000 and 50000 drams. Other currencies can be exchanged freely at local banks and licensed money changers.

Please go to the Official Website of Central Bank of Armenia for tracking currency changes.

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Banks

Banks are open from Monday to Friday from 9.30 to 17.00 hrs. Banks are closed on Saturday and Sunday. Many banks have automatic currency exchange machines that also take credit cards. There are no exchange controls on either local or foreign currency and currency may be freely remitted. Physical cash in excess of the equivalent of US$ 10,000 requires a document that attests to it having been obtained by legal means. Most hotels, restaurants and shops accept foreign currency and major credit cards.