| All currencies may be
freely imported and exported. Money can be exchanged for local currency at the
airports, banks, most hotels and shops during normal opening hours. Travellers'
cheques and credit cards are generally accepted. There are exchange 'bank
machines' in Yerevan.
The value of the Armenian national currency - Dram
(AMD)
The central bank establishes a daily official rate
of exchange, and all credit card purchases and banks use it accordingly. Other
exchange offices usually offer a slightly higher rate. Where you are determines
what kind of a rate you receive. Outside Yerevan, it will be lower.
The US Dollar and Euro is the most used hard
currencies in Armenia.
Change: Since there are so many exchange offices
around, there is no reason not to use drams at all times. Hang onto your small
bills in the regions and at street markets. Merchants may not have the small
bills to give you change.
Regular banking hours Banks in Armenia operate under
International standards and provide all the necessary services. They are open
Monday through Friday from 9:30 to 16:00 and Saturday from 9:30 to 12:00,
closed all day Sunday and on National Holidays. Exchange offices are open to
midnight and also operate on public holidays and at weekends.
List of Banks and
Corresponding Banks
(Credit Card, Western Union, Traveller's
Checks)
HSBC
1, Vramshapuh Arkai St., Yerevan
Corresponding Bank: Marine Midland, New York;
Midland Bank, England. Credit Card, Traveller's Check Service and ATM cash
machine available.
Armimpexbank
2, Nalbandian St., Yerevan
Corresponding Banks: Bank of America (Concord,
CA), Bank of New York, Credit Lyonnaise (New York); Creditanstalt Bankverein,
Raiffeisenzentralbank A.G. (Vienna); Credit Lyonnaise, Banque Francaise De
L'orient, Deutsche Bank A.G. (Paris), Deutsche Bank A.G., Commerzbank
(Frankfurt); Swiss Bank Corp., Union Bank of Switzerland, Credit Suisse
(Zurich); Midland Bank, National Westminster Bank PLC (London); The Bank of
Tokyo (Tokyo); Royal Bank of Canada (Toronto); ABN-Amro Bank (Amsterdam), Bank
Brussels Lambert (Brussels); General Bank (Brussels); National Australia Bank
(Sydney).
ArdShinBank
3, Deghatan St., Yerevan
Corresponding Banks: Citibank, Bank of New York
(New York). Credit Cards, Western Union.
ArmAgrobank
7a, Movses Khorenatsi St., Yerevan
Corresponding Banks: The Bank of New
York, Citibank, Republic National Bank of New York (New York); Deutsche Bank
AG, Dresdner Bank AG, Commerzbank (Frankfurt); Credit Commerciale de France,
Credit Agricole de France, Eurobank (Paris); Bank of Tokyo (Tokyo); Swiss Bank
Corporation (Zurich); Bank Mees Pierson Amsterdam (Amsterdam); Bank Brussels
Lambert (Brussels). Visa Credit Card Service available.
ArmEconomBank
32 Garegin Njdeh, Yerevan
Corresponding Banks: Banque Nationale de Paris
(Paris); National Westminster Bank (London); Riggs National Bank of Washington,
D.C. (Washington); Deutsche Bank (Frankfurt).
Aviabank
P. Sevak St., Yerevan
Corresponding Banks: Credit Lyonnais (New York);
Barclays Bank (London); Swiss Bank Corp. (Geneva); Credit Lyonnais (Paris),
Dresdner Bank (Frankfurt), ABN Bank Amro (Vienna), MMKB (Moscow).
Lend Bank
21, Nairi Zarian St., Yerevan
Corresponding Banks: Citibank, Bank of New York
(New York). Visa Credit Card Service via Incombank (Moscow).
Wire Transfer, Western
Union: Major banks accept wire transfers on your behalf. The cost of
the transfer varies, but it is between 2 and 10% of the amount transferred.
There is an additional service charge of around $10. Foreigners are freely
allowed to transfer in and out money without restriction, as long as it is for
the personal use.
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