New-Armenian-Composite-Banknotes-to-be-Circulated-Tomorrow

New Armenian Composite Banknotes to be Circulated Tomorrow

21 Nov 2018  Wed

On 22nd November, Armenia will start circulating the country’s third generation composite banknotes made of paper and polymers with the latest security features to celebrate the 25th anniversary of Armenian currency.

The first stage of circulation will begin on 22nd November when 10,000, 20,000 and 50,000 drams banknotes will be released. 1000 drams, 2000 drams and 5,000 drams banknotes will enter circulation from 25th December onwards. Older banknotes will remain legal tender when the new notes are released. 100,000 drams banknote will not be released as it’s not in demand as per central bank officials. The Armenian Government has been encouraging people to use online and digital transactions instead of cash. The new banknotes will not be accepted by payment terminals until the software is updated to identify them.

The 1,000 drams note will feature poet Paruyr Sevak, 2,000 drams banknote will depict world chess champion Tigran Petrosyan, 5,000 drams banknote will feature American Armenian writer William Saroyan, 10,000 drams banknote will show composer Komitas, 20,000 drams banknote will be dedicated to painter Hovhannes Aivazovsky and 50,000 drams banknote will honour the founder of the Armenian Apostolic Church, Saint Gregory the Illuminator. A German company named Giesecke & Devrient will be printing these notes.

Image Courtesy: Google Images