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 | European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. Cyprus parliament honors Armenian genocide victims Acting House President Zacharias Koulias noted that April 24 marks the “black anniversary” of the Armenian genocide. Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. |