It was established as a currency in ancient Greece in the 7th century BC by Phaedon, who ascended to the temple of Hera and deposited a "pack of obolos" and thus replaced obolos with the drachma. From the mid-6th century on, the drachma became the prevailing currency in most Greek cities. In fact it was used by Alexander the Great who issued the four-drachma coins with which he paid his soldiers and gave a "dowry" to the newly-weds and used it in his campaigns along with the gold stater. Because of this, the drachma was circulating in Palestine at Christ's times. It was a money Christ used, together with Jewish and Roman money.
The evolution of drachmas through the years>>