Armenian dram turns 18November 22, 2011 - 17:11 AMT PanARMENIAN.Net - On November 22, Armenian banking system celebrates Bank Employee Day and the 18th anniversary of the national currency Armenian dram, governmental press service reported. According to Armenian Prime Minister, Armenia’s banking system is one of the most stable sectors in the country’s economy that managed to withstand the crisis. Tigran Sargsyan stressed the importance of the banking system for the country’s economic development. “I congratulate bank employees wishing them new accomplishments,” he said. Armenian dram (translated as money) has been circulated since November 22, 1993. 1 dram includes 100 lumas, while luma coins are not used now. Policy of “floating exchange rate” is currently implemented. 21 banks are operating in Armenia. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | U.S. warns Georgia not to side with Moscow against the west Georgia has been warned by the U.S. not to become an adversary of the west by falling back in line with Moscow. Power of One Dram sums up two-year program with Teach for Armenia Idram Junior also joined the companies during the visit, bringing with it a fascinating intellectual game for children Moscow slams EU mission in Armenia for “provocative activity” The EU mission is doing more and more against Armenia’s neighbors Russia, Azerbaijan and Iran, Mikhail Galuzin said. Yerevan Mayor to travel to Paris on May 15-19 The official delegation headed by Yerevan Mayor Tigran Avinyan will travel to Paris from May 15 to 19. |