Armenia opens monument to the national currency

Today, an opening ceremony took place in the capital of Armenia - of the monument to the national currency - dram, which was officially accepted as the national payment unit on November 22, 1993. In the opinion of Armenian authorities, the monument is "a serious work of art", which will be interesting for foreign tourists.

"I congratulate everybody with the opening of the monument, which symbolizes the drum as the most important attribute of independent statehood," said Prime Minister of Armenia Tigran Sarkisyan at the opening ceremony.

Arthur Dzhavadyan, Chairman of the Central Bank of Armenia, said that the Armenian dram, brought into circulation during the difficult growth period of the independent republic, can be named today as a mature currency, the "News-Armenia" reports.

The monument is made of bronze, has a stone pedestal and is a symbol of the national monetary unit of Armenia; it was installed opposite the Central Bank of the Republic.

In his turn, Murilo Portugal, Deputy Managing Director of the IMF, has ascertained that the banking system of Armenia has a high level of capitalization and liquidity; and the country manages to keep inflation at lower level than other countries, in spite of the fact that it has more complex conditions because of blocked borders, the Panorama.am agency reports.

See earlier report: "Monument devoted to Russian-Armenian friendship was unveiled in Tula".