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Drachma
(redirected from Greek drachma)

   Also found in: Dictionary/thesaurus, Acronyms, Wikipedia 0.03 sec.
drachma
1. the former standard monetary unit of Greece, divided into 100 lepta; replaced by the euro in 2002
2. US another name for dram
3. a silver coin of ancient Greece
4. a unit of weight in ancient Greece

Drachma 

(1) An ancient Greek unit of weight and measure. It was first minted as silver currency in the sixth century B.C. The weight of a drachma was originally 4.25 g of silver and was later changed to 4.32 g.

(2) The present-day monetary unit of Greece, equal to 100 lepta. The Gosbank (State Bank) of the USSR on Jan. 1, 1974, established the rate of exchange at 100 drachmas = 2 rubles 76 kopeks.



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The national currency of the 12 countries which have joined the Euro and become worthless on January 1 are Austrian schillings, Belgian francs, Dutch guilders, Finnish marks, French francs, German deutschmarks, Greek drachma, Irish punt, Italian lira, Luxembourg francs, Portuguese escudos and Spanish pesetas.
Spanish pesetas, Greek drachmas and US dollars are the three currencies most likely to be left unchanged after a holiday abroad.
Olympic Holidays is highlighting the fact that visitors are getting about 15 per cent more Greek drachmas for their pound than they were a year ago - while with the Cyprus pound they are getting 20 to 25 percent more for their money.
 
 
 
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