#armenian dram

[lifearoundtheworld]

Money Around the World

Armenia, Armenian Dram (֏)

[stamp-it-to-me]

a 2016 Armenian stamp depicting a domestic cat

[ID: a postage stamp with a blocky, stylized illustration of a cream color cat. the cat has light brown ears and tail. the cat has one blue eye and one green eye. it has been labelled "van cat". the face value of this stamp is 100 Armenian dram. end ID]

[emilytakesphoto]

got a bunch of records out of the 50p* box yay

*for americans, thats about 0.6 dollars apparently

*for poles thats about 2.5 złoty apparently

*for serdar berdimuhamedow thats about 2.2 manat apparently

*for armenians thats about 250 dram apparently

*for ქართველები thats about 175 თეთრი (1.75 ლარი) apparently

[mariacallous]

The ruble’s collapse this summer has had a noticeable effect on the economies of Russia’s neighbors. For example, the exchange rate of Kazakhstan’s tenge, which was recently at its highest level since 2016, sharply declined in mid-August. And even after the ruble recovered some of its value when Russia’s Central Bank hiked its key interest rate on August 15, the tenge continued to decline for several more days. Kazakhstan’s National Bank was frank about what it sees as the cause of the decline, calling it a “reaction to the weakening of the ruble.” Meduza looks at how directly the ruble’s exchange rate affects the currencies of other countries in the Commonwealth of Independent States (CIS) — and why this could lead to an outflux of labor migrants from Russia.

What factors influence the exchange rates of CIS currencies?

The economies of the CIS countries have many similarities but can be separated into three broad categories:

Some CIS countries, such as Azerbaijan and Turkmenistan, regulate their national currency’s exchange rate. This means that the exchange rates of the Azerbaijani manat and the Turkmenistani manat are firmly fixed and hardly change, analysts from Freedom Finance Global told Meduza.

The government partially regulates currency exchange rates in CIS countries like Uzbekistan and Tajikistan.

Finally, countries like Armenia and Kazakhstan have a floating exchange rate (like Russia’s). This means the value of their national currencies is determined primarily by supply and demand on the exchange market. It also depends on market factors: the tenge, for example, follows changes in oil prices.

What's the relationship between the ruble and the currencies of Russia’s neighbors?

Russia has one of the largest economies in the region and is a key trade partner to the Eurasian Economic Union (EAEU) and many CIS countries. Moreover, the Russian ruble is the dominant currency used in trade between EAEU member states. Also, a significant portion of international settlements within the EAEU are conducted in Russia’s currency; the ruble still makes up more than 70 percent of the currency used in both imports and exports. This, in particular, suggests that companies from Kazakhstan, Kyrgyzstan, Armenia, and other countries purchase rubles in order to trade with Russia.

Additionally, many migrants from Central Asia and Armenia travel to Russia for work. They receive their salaries in rubles, which they often send back home. This, too, strengthens CIS countries’ reliance on the ruble (we’ll explain how below). An economist from a major financial firm told Meduza that remittances in Tajikistan, for example, make up about a third of GDP.

And rubles are brought into CIS countries not only by labor migrants but also by Russian emigrants. This increased significantly after the start of Russia’s full-scale invasion of Ukraine and had a considerable impact on exchange rates; other national currencies began to strengthen as newly arrived Russians sold their rubles and purchased local currencies, increasing the ruble supply on the market. As a result, in 2022, three non-Russia CIS member states entered the list of the top 10 currencies against the U.S. dollar: the Armenian dram, the Georgian lari, and the Tajikistani somoni.

The flow of Russians into Armenia and Georgia has persisted, and the dram and lari have remained strong in 2023 as a result. Tajikistan, however, has seen the opposite: since the start of the year, the exchange rate of the U.S. dollar to the somoni has risen by 8 percent. This can largely be attributed to the somoni’s strong dependence on the ruble, which is the currency many of the country’s labor migrants are sending back home.

Is this dependence really strong enough to determine the exchange rates of CIS countries?

Undoubtedly, the ruble affects some of its neighbors’ currencies, but not all of them and not directly. Most dependent are the small economies with strong links to Russia. For other countries, the ruble’s fluctuations are just one of many factors that indirectly impact their currencies’ exchange rates, analysts from Freedom Finance Global told Meduza.

Tajikistan is the country whose currency exchange rate is most easily affected by the ruble due to the high flow of remittances coming into the country, according to an economist from a large financial company.

Additionally, the ruble affects the economies of Armenia and Georgia, but the exchange rates of these countries’ currencies are also vulnerable to numerous other factors. In Armenia, for example, the economy is greatly affected because the flow of cash from diaspora members increases significantly during difficult periods such as wars and pandemics. As a result, the dram is far from the stablest currency in the post-Soviet space; in the last five years, its exchange rate against the ruble has risen by 50 percent. In Georgia, meanwhile, the steady inflow of tourists is a powerful factor — one of many that serve as a counterweight against the ruble’s depreciation.

Kazakhstan’s position is more difficult. Like Russia, Kazakhstan is a major exporter of oil. As a result, the value of the Kazakhstani tenge depends heavily on changes in oil prices. The ruble’s exchange rate and the price of oil are the two fundamental factors affecting the tenge's exchange rate, Kazakhstani National Bank Deputy Chairwoman Aliya Moldabekova said in 2019.

At the same time, Kazakhstan exports more goods to Russia than it imports from it. As a result, the ruble’s fluctuations can have an inverse effect on the value of the tenge. For example, the ruble’s strong appreciation in 2022 led to the tenge’s weakening and caused prices in Kazakhstan to rise. In other words, the relationship between the ruble and the tenge is less straightforward than it might initially appear, an expert told Meduza.

The EAEU currency most dependent upon the Russian ruble is the Belarusian ruble, an economist from a Russian bank told Meduza. Another economist agreed: Russia is Belarus’s largest trading partner, and many citizens of Belarus go to Russia for work, so there is indeed a dependency.

At the same time, the two currencies’ values don’t always show a tight correlation, because the country’s Central Bank does not fix the Russian ruble’s exchange rate, while the Belarusian National Bank often interferes with its currency’s exchange rate, analysts from Freedom Finance Global told Meduza.

How does a weak ruble lead to an outflow of migrants from Russia?

The recent drop in the Russian ruble’s value directly impacts migrants’ desire to travel to the country for work. This is because it wasn’t only the ruble’s exchange rates against the U.S. dollar and the euro that fell but also its exchange rates against the currencies of other CIS countries.

Since the start of 2023, the ruble’s exchange rate against the Kyrgyzstani som has fallen by 22 percent; its exchange rate against the Uzbekistani som has fallen by 18 percent; and its exchange rates against the Armenian dram and the Kazakhstani tenge have each fallen by 25 percent.

This has caused the income of migrants who get paid in rubles to drop, making work in Russia a less attractive option for them.

According to Bakhrom Ismailov, the head of Moscow’s Uzbekistani diaspora, the ruble’s plummeting exchange rate could cause Russia to lose up to a third of its migrant workers. In a recent interview, Anton Glushkov, the head of Russia’s National Builders’ Association, said that the currency’s collapse will especially make Russia a less attractive market for migrant construction workers. He said most workers are sticking around for now, but this could change in 2–3 months.

In 2021, the average monthly salary for migrant workers in Russia was 47,100 rubles (about $640), according to data from Moscow State University and the organization Federation of Migrants of Russia. The most lucrative industry for migrant workers that year was construction and repair, with an average monthly salary of 54,000 rubles ($734).

In 2022, the number of labor migrants in Russia rose 33 percent (approximately 847,000 people) from the previous year.

There are two main factors behind this large increase:

First, by the end of the pandemic, the number of migrants in Russia had fallen almost fourfold, and it didn’t start to recover until 2021.

Second, the ruble was strong. In 2022, the ruble appreciated due to Russia’s high number of exports and reduced imports. That summer, the dollar’s value on the Moscow stock exchange fell to 50 rubles, and only at the end of the year did it again approach 70 rubles.

An economist from one of Russia’s banks told Meduza that migrants working in Russia might indeed leave in response to the ruble’s falling exchange rate. According to him, the currency’s decline will exacerbate the already-dire shortage of workers in Russia.

But the ruble’s depreciation isn’t the only factor stopping potential migrant workers from coming to Russia, nor is it the most important one. Because of Russia’s full-scale war against Ukraine, many migrants are justifiably concerned that they could be mobilized and sent to the front, according to an economist at a large financial firm. While mobilizing a citizen of a foreign country is difficult, the risk is real — and migrants are taking it into account.

Would a decline in immigration be bad for Russia?

In a word, yes. Russia’s labor shortage is becoming a problem for the economy, and an outflow of migrants would only aggravate the situation.

Russia’s working population continues to decrease as opponents of the war leave the country and as hundreds of thousands of other people are drafted and sent to the front. Last year, the number of workers younger than 35 decreased by 1.3 million people — the largest decrease in Russia’s modern history (excluding 2020, when pandemic restrictions were in place).

In June 2023, unemployment reached a record low of 3.1 percent. In July, about 42 percent of Russian companies reported personnel shortages, although 35 percent of businesses were reporting shortages as early as April, according to data from the Gaidar Institute for Economic Policy.

In 2022, despite the influx of migrants, their numbers remained 15.3 percent lower than in 2019, the last year before the pandemic. And the potential outflow due to income reduction threatens to worsen the situation.

Migrant workers have several options to choose from, including a rapidly growing Turkey, as well as South Korea, according to an economist at a major financial company. Russia, he said, will have to start competing for migrants, including by raising their wages. It is unclear whether there will be anything to protect them from the risk of mobilization.

[massispost]

New Post has been published on https://massispost.com/2024/12/armenian-parliament-approves-2025-state-budget-military-spending-raised-to-1-7-billion/

Armenian Parliament Approves 2025 State Budget; Military Spending Raised to $1.7 Billion

YEREVAN – On Wednesday, the Armenian National Assembly adopted the updated 2025 state budget bill with 66 votes in favor and 30 against. According to the approved draft, economic growth in 2025 is projected at 5.1 percent, down from the previously anticipated 5.6 percent. State budget revenues are expected to reach approximately 2.84 trillion drams, which represents a reduction of 35.5 billion drams from the initial estimate. Tax revenues are also forecasted to decrease by 39.6 billion drams. The revised draft outlines state budget expenditures of 3.4 trillion drams, marking a decrease of 40.8 billion drams. This includes 2.7 trillion…

[depictae]

10 Interesting Facts About Armenia

Learn 10 interesting facts about Armenia, from being the first Christian nation to its ancient monasteries and unique alphabet. Explore Armenia's cultural and historical treasures.

Basic Information About Armenia Country Full Name: Republic of Armenia Continent: Asia (Caucasus region) Official Language: Armenian Currency: Armenian Dram (AMD) Main Dish: Khorovats (Armenian BBQ) Famous For: Ancient history, Mount Ararat, first country to adopt Christianity, Armenian Genocide, monasteries, beautiful landscapes Size: 29,743 square kilometers Population: Approximately 3…

[growbettaaaa]

I was thrifting today and saw the funniest thing (fyi 500 armenian dram is worth 1 dollar)

[schleyer]

i don't want to pay for latin-script keycaps using the armenian dram 😭😭😭

i can't find any armenian keycap sets smh

rather i did find one but i can't find anywhere to buy it lmao

[fromgoldtosilver-blog]

Take a look of the official silver bullion coin of Armenia!!

[anonymous-mary]

So does anyone else go through their change and wonder where did this come from? How did I get a 200-dram Armenian coin? Just me?

[rollisci]

Timelime of riots or protests in armenia

TIMELIME OF RIOTS OR PROTESTS IN ARMENIA DRIVERS

TIMELIME OF RIOTS OR PROTESTS IN ARMENIA FREE

TIMELIME OF RIOTS OR PROTESTS IN ARMENIA WINDOWS

Activists also demand that commuters obliged to pay the higher fare over the last week be reimbursed. They are met by a persistent wall of police, but remain peaceful. July 26: Activists continue to congregate en masse in front of Yerevan City Hall, calling for the dismissal of Navasardyan and Misak Hambardzoumyan, the director of Yerevan Trans Ltd., a transportation operator. Hundreds of activists take to the streets in celebration, marching through Liberty Square and down Mashtots Street, the tricolor in hand. Just before 6 p.m., Mayor Markaryan announces that he is temporarily suspending the fare hike, but makes no mention of when prices may increase in the future. Some are seen in Republic Square distributing flyers printed with articles on public transportation per Armenian law. July 25: In a move signaling the understanding that the civic movement has no political undertones, Prime Minister Tigran Sargsyan-during opening remarks of a meeting with his cabinet-hails the initiative, stating that civil society is taking shape and the government must do more to address public concern.Īctivists continue their protests unabated. Purported overtures made by the Heritage and Prosperous Armenia Parties to lend sponsored support to the movement are rejected by its leaders. Per Armenian law, it is illegal to put new directives into force without prior notice. Markaryan himself announces that he signed the order on July 19, only one day before the new fare price went into effect. Karen Andreasyan, an Armenian human rights defender, in a statement putting pressure on Yerevan Mayor Taron Markaryan, says that the price hike is unjustifiable without public debates and a signed order by the mayor instating the new fare.

TIMELIME OF RIOTS OR PROTESTS IN ARMENIA DRIVERS

(As of July 28, 269 drivers have signed up.) July 24: An innovative carpooling initiative goes online on a new website called freecar.am, where motorists who have spare seating offer their services to people who cannot afford to pay the new fares. The movement’s name, “I Will Only Pay 100 Dram,” is revealed with the announcement of a rally scheduled at Mashtots Park-a symbolic site of civic protest. The news story stirs even more controversy and outrage. Meanwhile, Hetq Online publishes an article claiming that Navasardyan owns a Yerevan bus route, and that one of his sons runs a company that sells advertising space on public transportation vehicles. Small protests continue at bus stops throughout the city center. They are released shortly after hundreds of people swarm in front of the police headquarters. July 23: Protesters face resistance from riot police, and six more activists are detained. The social media, specifically Facebook, is being used as a main channel for creating awareness and disseminating information about the situation on the ground. Bus drivers continue to accept the 100-dram fares, some begrudgingly, as reports of quarrels with passengers come online.

TIMELIME OF RIOTS OR PROTESTS IN ARMENIA FREE

Celebrities who sympathize with the movement begin offering free rides to people waiting at bus stops. July 22: The citywide protests continue to gain followers. Activists claim that the new fares are unjustified since the bus routes are owned by government officials or individuals with close ties to the government, and are thus lucrative businesses. Announcements are made with bullhorns urging citizens to continue paying the same fare. They also hand them out to passengers when buses pull up at bus stops.

TIMELIME OF RIOTS OR PROTESTS IN ARMENIA WINDOWS

At bus stops, protesters tape flyers to the windshields and windows of buses instructing people to continue paying the 100-dram fares. Three young activists, Davit Haroutyunyan, Sona Msryan, and Arsen Ohanyan, are detained for passing out flyers that call on commuters to refuse to pay the new fare. July 20: The new fare prices go into effect. One coin accidentally lands on the head of Mayoral Advisor Albert Gevorgyan while he is talking to journalists. Protesters at one point are seen throwing 50-dram coins in the direction of the main entrance, which is heavily guarded by policemen. July 19: Young activists protesting against the slated price increase congregate in front of Yerevan City Hall. The announcement is made by Henrik Navasardyan, head of the Yerevan Municipality’s Department of Transportation. The fare hike is the first in well over a decade. Electric trolley bus routes, favored by senior citizens because of the cheaper fare, will also go up from 50 to 100 dram. The owners of 48 companies operating privatized transportation routes had filed petitions with the Yerevan municipality to increase the fares, citing high maintenance costs and price increases in liquefied gas imported from Russia, which is used to fuel minibuses. July 18: Fares for public transportation by bus or minibus are scheduled to increase from 100 to 150 dram.

[don-lichterman]

Buy and sell cryptocurrencies for Armenian drams. Bybit opens doors for Armenian crypto-enthusiasts

YEREVAN, Oct.4, /ARKA/. Cryptocurrency exchange Bybit announces the addition of a new option enabling enthusiasts to buy cryptocurrencies on the P2P platform for Armenian drams.  Peer-to-peer (or P2P) trading is a form of transaction in which the buyer and seller exchange funds directly with each other. The main advantage of P2P trading is that the participants themselves determine the terms of…

[stamp-it-to-me]

a 2017 Armenian stamp depicting an artist's rendering of a pterosaur

[ID: a postage stamp with a detailed illustration of a pterosaur. the illustration depicts the pterosaur with a leathery looking hide and a very large head with a long beak. comparatively, it has small legs. it has been labelled "ptereosaur". the face value of this stamp is 230 Armenian dram. end ID]

[mbbswala9887]

MBBS IN ARMENIA

Armenia is the country of Transcaucasia which is lying just south of the great mountain range of the Caucasus and fronting the northwestern extremity of Asia. It is situated at a cultural, historical and religious intersection. The official title of the country is the Republic of Armenia which was established on September 21, 1991. The capital of the Republic of Armenia is Yerevan and pollution is around 3.1m. The major or national language of Armenian is Russian and their major religion is Christianity. In Armenia about 95% of the population is Christian. The official currency of the monetary unit of Armenia is dram.

[eric-coin]

Armenian 2000 drams banknote, watermark.

[massispost]

New Post has been published on https://massispost.com/2024/11/armenian-investigative-committee-recovers-material-damage-worth-90-million/

Armenian Investigative Committee Recovers Material Damage Worth $90 Million

YEREVAN — Armenia’s Investigative Committee said it had recovered material damage worth 34.4 billion drams (about $90 million) in criminal cases it had investigated over the past 9 months of 2024. According to the Committee, the recovered damage is almost as much as was recovered in the 9 months of 2023. The total amount of material damage caused to the state, communities, legal entities and individuals is estimated at more than 39.21 billion drams, of which 25.67 billion drams is the damage caused to the state. The Investigative Committee added that within the framework of the completed and incomplete criminal…