What currency to take to Armenia?

What currency to take to Armenia?

• February 5, 2016 3:19 pm
• Anush Bichakhchyan
• Uncategorized
• 47 comments

 

If you are taking a trip to Armenia, make sure you have planned your trip in detail. Do not leave the choice of hotel at the very last moment. If you are going to travel about Armenia, examine the map, make a route and locate hotels, where you’ll be staying. When planning a trip do not forget to find out which currency to take with you to Armenia. Here is some useful information about currency to use in Armenia.

NATIONAL CURRENCY

Armenian national currency is called Armenian dram (AMD). The currency was launched in 1993, after the ruble. Of course, dram is as old as the history of the Armenia; for the first time it was mentioned in 1199 (at that time silver coins were in use). Modern dram is available in coins 10, 20, 50, 100, 200 and 500 dram and banknotes 1000, 5000, 10 000 20 000 50 000 or 100 000 drams.

EXCHANGE RATES IN ARMENIA

In Armenia, just like in many countries you cannot pay in foreign currencies (according to law it is forbidden and threatened with fines), so you definitely need to change money. You’d better take your national currency. All exchange offices and banks of Armenia take rubles (RUB), dollars (USD), euros (EUR), pounds (GBP), lari (GEL) and etc. Banks are open till 18:00, some exchange offices in large supermarkets are open until midnight, so you won’t have any problem with changing money. SAS supermarkets have the best exchange rates, in addition, SAS supermarkets are located in the city center. For good exchange rates you can visit one of the exchange offices on Kasyan street. You will find them all along the street; most of them offer higher rates than in banks.

To calculate which currency is more profitable to take with you in Armenia, you can check the exchange rates on the website of the central bank www.cba.am or www.rates.am. On those sites all currencies of Armenian banks are posted. In addition, you can download rate.am app for smartphone and tablet; the application will help you to find the closest exchange. Note that in exchange offices rates can be higher than in banks. Also, try to change money in Yerevan because in small towns and resort centers exchange rates can be lower. As soon as you arrive in Yerevan you need to change money but do not change large sum at the airport; make sure you change enough to get to the city, and then you will easily find a bank or exchange office.

PLASTIC CARDS

Visa, MasterCard and American Express credit cards are accepted at all major hotels of the country. In addition, in Yerevan, all supermarkets and large shopping centers, restaurants and cafés accept credit cards. However, clarify it in advance. In the resort cities major hotels accept credit cards as well, anyway you’d better have cash. If you run out of cash, you can easily find ATMs in Yerevan and in the provincial towns. Still, take into account that you will have to pay commissions for cash withdrawal. In order to avoid additional expenditures you’d better take the necessary amount of cash for your trip.