Armenia started the route towards independence starting from the end of 1980’s through 1991 when it finally declared itself independent.
Armenia started the route towards independence starting from the end of 1980’s through 1991 when it finally declared itself independent and throughout short periods formed the fundamental structures and systems typical of an independent state. Yet, what concerns its financial portal the country was still tied with the dead empire by autumn 1993.
The Soviet ruble was still in circulation in Armenia, and starting from mid 1992 the latter was replaced with the new Russian rubble, which was rapidly losing its value, thus making it the imperative of the day to create a separate financial system and national currency.
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