Drachma Guide, Meaning , Facts, Information and Description
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:
- Modern Greek currency, replaced by the euro.
- 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. Prior to elimination of local currencies and at the time of conversion, the exchange rate was 340.750 drachma to one euro.
- 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.
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