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Armenia (AM)

Affordable Caucasus base with a fast-growing tech scene, rich culture, straightforward residency options, low flat income tax, strong diaspora links and increasingly international Yerevan.

Capital: Yerevan
Region: Europe
Language: Armenian
Currency: AMD (֏)
Cost of living: Very affordable (index 30)
Emergency: 911
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Currency & Money

Practical money tips for living in Armenia.

֏
Armenian dram
AMD

Denominations

Banknotes: 1,000, 2,000, 5,000, 10,000, 20,000, 50,000 and 100,000 dram. Coins exist but card and bank-app payments dominate urban daily spending.

Payment Culture

Yerevan is highly card- and app-friendly, with Idram, Telcell, EasyPay, bank apps and QR payments common. Cash is still useful for taxis outside apps, markets, small regional shops and rural guesthouses.

ATM Tips

Use bank ATMs inside branches or malls, especially for large withdrawals. Many ATMs dispense AMD and sometimes USD. Check foreign-card fees and dynamic currency conversion prompts.

Exchange Tips

USD, EUR and RUB are easy to exchange in Yerevan at banks and exchange booths. Keep exchange receipts for large cash conversions and source-of-funds checks at banks.

Pro tip: Best apps for expats

  • • Wise — Send money internationally at near-interbank rates
  • • Revolut — Multi-currency account, free ATM withdrawals (limits apply)
  • • N26 — German IBAN, free account, good for EU residents