Education has traditionally always been highly rated in Armenia - in a country, which has 1600 years old history of literacy. From the very beginning, the school has been the basis of the nation's political and cultural survival and the incentive for national progress.
The Republic of Armenia declared its sovereignty on August 23, 1990, and became an independent state a year later, on September 23, 1991. In October 1991, Levon Ter-Petrosian, who had been elected democratically as chairman of the Armenian Supreme Soviet under the Soviet system in 1990, was chosen president of the republic in a six-candidate election.
Armenian Dram (AMD) = 100 luma. Dram notes are printed in denominations of AMD50,000, 20,000, 10,000, 5,000, 1,000 and 500. Coins are in denominations of AMD500, 200, 100, 50, 20 and 10.