Learn the Currencies of the Caucasus
The three countries of the South Caucasus each keep their own national currency. Armenia uses the dram, Azerbaijan the manat and Georgia the lari, all introduced in the 1990s after independence from the Soviet Union. This lesson covers the currency of all 3 Caucasus countries, with each currency code, symbol and the year it came into use.
Study the Currencies
AMD Armenia
Armenian dram
Armenia introduced the dram in 1993, replacing the Soviet ruble after independence.
Fun Facts
- The word dram means money in Armenian and is related to the Greek drachma.
- The dram symbol ֏ was officially adopted in 2010.
- A dram is divided into 100 luma, though the subunit is no longer used in everyday life.
AZN Azerbaijan
Azerbaijani manat
Azerbaijan first issued the manat in 1992 and redenominated it in 2006, with 5,000 old manat becoming 1 new manat.
Fun Facts
- The word manat comes from the Russian and Latin word moneta, meaning coin.
- The manat symbol ₼ was introduced with the 2006 redenomination.
- A manat is divided into 100 qapik.
GEL Georgia
Georgian lari
Georgia introduced the lari in 1995, replacing the temporary kuponi used after independence.
Fun Facts
- Lari is an old Georgian word for a hoard or property.
- The lari symbol ₾ was officially adopted in 2014.
- A lari is divided into 100 tetri, which means white in Georgian.
Quick Reference
Test Your Knowledge
Can you match each country to its currency?
About Caucasus Currencies
The South Caucasus is home to three national currencies, each born in the 1990s as Armenia, Azerbaijan and Georgia gained independence from the Soviet Union and left the ruble behind. Armenia uses the dram (AMD), whose name shares a root with the ancient Greek drachma. Azerbaijan uses the manat (AZN), a name drawn from the Latin moneta, meaning coin. Georgia uses the lari (GEL), an old Georgian word for property or hoard. All three later gained their own distinctive currency symbols: the dram ֏, the manat ₼ and the lari ₾. Learning these currencies, their ISO codes and symbols makes travel, shopping and reading the news across the Caucasus far easier.
Frequently Asked Questions
What currencies are used in the Caucasus?
The three South Caucasus countries each have their own currency: the Armenian dram (AMD), the Azerbaijani manat (AZN) and the Georgian lari (GEL). None of them uses the euro.
What is the currency of Georgia?
Georgia uses the lari (GEL), with the symbol ₾. It was introduced in 1995 and is divided into 100 tetri.
Why are the Caucasus currencies all so young?
Armenia, Azerbaijan and Georgia were part of the Soviet Union and used the ruble. After independence in the early 1990s, each introduced its own national currency, all within a few years of one another.
What are the symbols for the Caucasus currencies?
The Armenian dram uses the symbol ֏, the Azerbaijani manat uses ₼, and the Georgian lari uses ₾. Each symbol was officially adopted in the years following the currency itself.
Banknote images via Wikimedia Commons: AMD (Chi Ho Chan from Hong Kong, CC BY 2.0)