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Drachma (δραχμή, pl. δραχμές) The name of this unit of Greek currency is derived from the verb "to grasp." It is the name of both:

1. Modern Greek currency, replaced by the Euro (at the rate of 340.750 drachma to the Euro).
2. Ancient currency unit found in many Greek city states and successor states.

The 5th century BC Athenian tetradrachm ("four drachmae") coin was the most widely used coin in the Greek world prior to Alexander the Great. It featured the helmeted profile bust of Athena on the obverse (front) and an owl on the reverse (back). The reverse is featured on the national side of the Greek 1 euro coin, see Greek euro coins.

The drachma (divided into 100 lepta, which word is currently used for Eurocent on the Greek coins) was also the currency of modern Greece. Prior to elimination of local currencies and at the time of conversion, the exchange rate was 340.750 drachma to one euro. The coins continued to be exchangeable into Euros until March 1, 2004. The banknotes will continue to be exchangeable until March 1, 2012.

Coins in circulation at the time of the adoption of the Euro

• 50 Lepta (.147 Eurocents)
• 1 Drachma (.293 Eurocents)
• 2 Drachma (.587 Eurocents)
• 5 Drachma (1.47 Eurocents)
• 10 Drachma (2.93 Eurocents)
• 20 Drachma (5.87 Eurocents)
• 50 Drachma (14.67 Eurocents)
• 100 Drachma (29.35 Eurocents)
• 500 Drachma (1.47 Eurocents) - solely commemorative?

Banknotes in circulation at the time of the adoption of the Euro

• 100 drachma (29.35 Eurocents)
• 200 drachma (58.69 Eurocents)
• 500 drachma (1.47 Euros)
• 1000 drachma (2.93 Euros)
• 2000 drachma (5.87 Euros)
• 5000 drachma (14.67 Euros)
• 10,000 drachma (29.35 Euros)

Historic currency divisions

6 obols = 1 drachma

100 drachmae = 1 mina

6000 drachmae = 1 talent (Athenian standard)

The drachma was also used in Ancient Rome in the 3rd century BC. It is difficult to give even comparative values for money from before the 20th century, due to vastly differing economies. Classical historians regularly say that in the late Roman Republic and early Roman Empire, the daily wage for a laborer was one Drachma.

The Arabic unit of currency known as dirham (in the Arabic language, درهم), known from pre-Islamic times and afterwards, is derived from the ancient drachma, via Byzantium.

• Numismatics
• Currencies