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Greek
Drachma ; Gazetta ; Lepton (Lepta); Obol ; Para ; Phoenix
Drachma, pl. drachmas or drachmae is the name of:
Greece
An ancient currency unit found in many Greek city states and successor
states, and in many South-West Asian kingdoms of the Hellenistic era.
Three modern Greek currencies, the first introduced in 1832 and the last
replaced by the euro n January 2002.
In 1841, notes were issued by the National Bank of Greece in
denominations from 10 up to 500 drachmae. followed by 1, 2 and 5
drachmae with the first 5 drachmae notes being made by cutting 10
drachmae notes in half. In the twenties the Greek government issued
notes of 10 lepta, 50 lepta, 1, 2, and 5 drachmae. 1000 drachmae notes
were introduced by the National Bank of Greece in 1901, followed by 5000
drachmae notes . The Greek government again issued notesin the forties
in denominations between 50 lepta and 20 drachmae.
During the German occupation of Greece (1941–1944), hyperinflation
caused much higher denominations to be issued, culminating in 100
billion (1011) drachmae notes in 1944.
after liberation only paper money was issued in notes of 1, 5, 10 and 20
drachmae with the Bank of Greece issuing 50, 100, 500, 1000, 5000, and
10,000 drachmae notes. Later government issues were of 100, 500, and
1000 drachmae, whilst the Bank of Greece issued 20,000 and 50,000
drachmae notes.
In 1953, in an effort to halt the inflation, Greece joined the Bretton
Woods system.
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