Greek drachma Union collapsed due to World War I. Between 1926 and 1930, a new coinage was introduced for the new Hellenic Republic, consisting of cupro-nickel coins in denominations of 20 lepta, 50 lepta, 1 drachma, and 2 drachmae; nickel coins of 5 drachmae; and silver coins of 10 and 20 drachmae. These were the last coins issued for the first modern drachma, and none were issued for the second. Notes were issued by the National Bank of Greece from 1841 until 2001 when Greece joined the Euro. Early denominations ranged from 10 to 500 drachmae. Smaller denominations (1, 2, 3 and
Greek drachma in Alexandria and the Parthian Empire based in what is modern-day Iran. The Arabic unit of currency known as "dirham" (), known from pre-Islamic times and afterwards, inherited its name from the drachma or didrachm (, 2 drachmae); the dirham is still the name of the official currencies of Morocco and the United Arab Emirates. The Armenian dram () also derives its name from the drachma. It is difficult to estimate comparative exchange rates with modern currency because the range of products produced by economies of centuries gone by were different from today, which makes purchasing power parity (PPP) calculations