The sketches of the third series of banknotes for 2018 were released by Armenia on 22nd November. Three designs were chosen through a competition. Specialists from the Central Bank worked on them before taking a final call.
Poet Paruyr Sevak will be featured on the 1000 AMD, chess grandmaster Tigran Petrosyan on 2000 AMD, writer and dramatist William Saroyan on 5000 AMD, composer Komitas on 10,000 AMD, painter Ivan Aivazovsky on 20,000 AMD, and Saint Gregory the Illuminator on 50,000 AMD. The designs that would appear on the new notes might not look exactly similar to the images that were revealed. The designs might be altered to look ideal for banknotes.
Printed by Gieseck Devrient company, the notes will be circulated on 22nd November 2018, a date that would mark the 25th anniversary of the national currency. The old banknotes will continue to be in circulation until they are phased out slowly due to natural wear and tear. The 2000 AMD banknotes might be released earlier due to its growing demand.