The Armenian dram is the official currency of Armenia and the first currency date from 1199 to 1375. The official currency symbol: ֏. The word dram means “money” in the English language; the word is related to the Greek drachma and the Arabic dirham, and the English unit of weight dram. After Armenia was proclaimed as an independent republic in 1991, the Central Bank of Armenia was established as an official issuing entity in 1993; the first banknote series was introduced in denominations of 10, 25, 50, 100, 200, 500, 1000 and 5000 dram. A second series was introduced between 1998 and 2017. However, a year later (2018), a third series was issued in denominations of 1000, 2000, 5000, 10,000, 20,000 and 50,000.