The currency of Armenia is the Armenian dram, abbreviated as AMD. The dram has been the currency since 1993, when it replaced the Soviet ruble after Armenia gained independence from the Soviet Union. The name "dram" comes from the Greek currency "drachma," reflecting the historical influence of ancient trade. The Armenian dram is subdivided into 100 luma. The currency plays a crucial role in the nation’s economy as it supports domestic and international trade, and its value can fluctuate based on economic conditions. The Central Bank of Armenia manages the currency and implements monetary policy.