Currency, Exchanging Money, Credit Cards, Tipping, Bargaining, Costs...|
The Armenian money is called Dram, which consists of 100 Looma. However, only Dram is used now. The exchange rate as of December 10, 2007 is about 305-308 Drams for US$ 1 and 450 Drams for one Euro
Money can be exchanged in any bank + there are also many street currency exchange offices in Yerevan and in other bigger cities where you can exchange US$, Euros, Russian Roubles for Drams. This is absolutely safe.
There are many ATMs in the center of Yerevan, but there are very few ATMs outside of Yerevan. Here (http://banks.am/eng/index.php?sub=search) you can search for an ATM in different locations in Armenia
MasterCards, Visas and ArCa cards are accepted in major stores, restaurants in Yerevan, but there are few places outside Yerevan, that accept cards.
Tipping: You are expected to tip 10% of your bill in restaurants and cafes. Some places include the tip in the bill, so check the bill first.
In open air markets and Vernisage market you are expected to bargain the price.