The national currency of states belonging to Greece and some kingdoms of Asian origin is known as drachma; Its circulation as national money began approximately in the V century before Christ, specifically it was known as "Athenian tetradrachm", this is because on one of its faces it had the image of the goddess Athena and on the reverse it had an image of a war helmet. According to their value, the drachmas showed different measures and different weights, the most used were the Athenians with a weight of 4 grams of silver; at the time when the government of Alexander the Great was established, the drachma was not only used in greece but it was also applied in holistic Asian nations, within which the Arabian currency was displaced and supplanted by the drachma.
Over the years the drachma continued to star as the legal currency of Greece, its circulation period began on February 8, 1833 until January 1, 2002, on that date the drachma was replaced by euros. According to its valuation, it can be said that the drachma period is divided into three stages:
From 1833-1944, this is the period in which the drachma was consolidated as the official currency of Greece, after its independence the drachma replaced the phoenix (currency imposed by Ioannis Kapodistrias, in 1828); by then said money was conjugated in a “bimetallist” system (conjugation between silver and gold), where each coin had a 5: 1 ratio (for every 5 portions of silver, it merges with a portion of gold).
From 1944-1954, this period was the result of the significant devaluation of the drachma that was evidenced, after the Second World War, in this change the "new drachma" was sent to the market, which had a value of more than 500,000 old drachmas, This was a desperate measure in the search to maintain the confidence of the inhabitants in their local currency, because they preferred to handle gold and foreign currencies.
From 1954 to 2002, according to the strong inflation that Greece presented, an agreement was signed with the United States called "Bretton Woods agreements", which had the purpose of equalizing the drachma with the dollars. exchange drachmas for euros and thus keep their state out of constant inflation.
