Make Payments in AMD - Armenian Dram
Pay in Armenian drams (AMD)
Mondial Change allows you to make international payments in AMD (Armenian dram) with ease. Manage your Armenian dram beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not apply exchange commission on your AMD operations (a spread is applied to the exchange rate, which slightly degrades the interbank rate on the currency pair traded). Your customer rate is always communicated transparently before the validation of each of your transactions.
Receive Payments in Armenian Dram (AMD)
It is currently not possible to receive payments in AMD.
Mondial Change Answers All Your Questions About Payments in Armenian Drams (AMD)
What is the timeframe for an AMD payment to be credited to the beneficiary's account?
It generally takes a minimum of 2 business days for an Armenian dram transfer to be credited to the beneficiary's account. However, these timeframes are not contractual, and our partners responsible for executing and routing payments cannot be held liable if AMD payments are credited beyond 2 business days to the beneficiary's account. External events such as processing delays by intermediary banks, public holidays, execution time, or compliance checks can have a significant impact on payment receipt times.
What are the fees for a payment in Armenian dram (AMD)?
The fees applied to Armenian dram (AMD) transfers generally range from 0 to 10 euros, depending on the agreement with Mondial Change's trading room. The rate mainly depends on your annual AMD exchange volume and the number of Armenian dram payments made during the year.
Are there minimum or maximum amounts for payments in Armenian dram (AMD)?
Mondial Change and its partners verify that your Armenian dram flows are consistent with the data declared during account opening and consistent with your activity volume to ensure compliance and security. If there are restrictions on transaction volumes, they will be communicated to you well in advance of the validation of your operations.
What are the specific rules for executing a payment in Armenian dram (AMD)?
For AMD payments via the SWIFT network, the following information must be provided at a minimum:
• Full name of the beneficiary
• IBAN
• Reason for payment
Is it possible to modify a payment in Armenian dram (AMD) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in Armenian dram (AMD) even after it has been sent in SWIFT. If you have, for example, made an error in the beneficiary's name or account number, the correction is made through a SWIFT amendment. If the payment was not executed via the SWIFT network, then such amendments are not possible, and you must wait for the payment to be returned if applicable.
What are the public holidays when payments in Armenian dram (AMD) cannot be executed?
January 1: New Year's Day (Նոր տարի)
January 2: Second Day of New Year
January 6: Armenian Christmas and Epiphany (Սուրբ Ծնունդ և Աստվածահայտնություն)
January 28: Army Day (Բանակի օր)
March 8: International Women's Rights Day
Variable Date: Armenian Easter (Զատիկ)
April 24: Armenian Genocide Remembrance Day
May 1: Labor Day
May 9: Victory and Peace Day
May 28: First Republic of Armenia Day
July 5: Constitution Day
September 21: Independence Day
December 7: Spitak Earthquake Remembrance Day
History of the Armenian Dram
The Armenian dram (AMD) has been the official currency of the Republic of Armenia since 1993, following the collapse of the Soviet Union. It was introduced to replace the Soviet ruble and strengthen the country's economic independence. Issued by the Central Bank of Armenia (CBA), the dram is subdivided into 100 luma. Although the luma is no longer used in daily transactions, the dram circulates actively throughout the country. It plays a crucial role in Armenia's economic stabilization and reflects the structural reforms undertaken since the 1990s. Thanks to prudent management, the currency has gained stability despite regional challenges.
Monetary Policy of the Armenian Dram
The Central Bank of Armenia (CBA) is the institution responsible for the monetary policy of the Armenian dram (AMD). Its primary role is to ensure price stability and maintain confidence in the national currency. The CBA uses various instruments: key interest rates, open market operations, reserve requirements, and foreign exchange market interventions. Armenia has adopted a floating exchange rate regime since 2006, meaning the dram's rate is determined by the market, although the central bank may intervene in case of excessive volatility. It also monitors inflation, economic growth, budget deficits, and banking system stability to adjust its monetary strategy.
Features of the Armenian Dram
The Armenian dram (AMD) has several specific features. Firstly, it is not a freely convertible currency globally, which limits its use outside Armenia. However, it benefits from good internal stability thanks to the Central Bank's prudent policy. Dram banknotes incorporate modern security features (watermarks, optically variable inks, holograms). The Armenian payment system is also well integrated into the SWIFT network, facilitating international transactions despite the currency's low liquidity abroad. Finally, the dram plays a central role in electronic payments and local e-commerce platforms.