2nd generation banknotes withdrawn from circulation in Armenia

ArmInfo. In Armenia, 2nd generation banknotes are being withdrawn from circulation due to natural wear and tear. As noted in the press release of the Central Bank of the Republic of Armenia, according to the decision of the Central Bank Council, this process is planned to be completed by April 15, 2026.

According to this decision, the following denominations of the 2nd  generation banknotes will be withdrawn from circulation: 500 drams  issued in 1999 (with the portrait of Alexander Tamanyan); 1000 drams  issued in 1999, 2001, 2011 and 2015 (with the portrait of Yeghishe  Charents); 5000 drams of the 1999, 2003, 2009 and 2012 issues (with  the portrait of Hovhannes Tumanyan); 10000 drams of the 2003, 2006,  2008 and 2012 issues (with the portrait of Avetik Isahakyan); 20000  drams of the 1999, 2007, 2009 and 2012 issues (with the portrait of  Martiros Saryan).

The message mentions that on July 11, 2017, the Central Bank  announced: "The 2nd generation banknotes will only be withdrawn  when  the 3rd generation banknotes are put into circulation, and the 2nd  generation banknotes become too worn for  circulation." The Central  Bank Council notes that currently the 2nd generation banknotes still  in circulation are mostly heavily worn out. At the same time, the  majority of 1000, 5000, 10000 and 20000 dram banknotes in circulation  belong to the 3rd generation. We are talking about new banknotes:  1000 drams (with a portrait of Paruyr Sevak), 5000 drams (with a  portrait of William Saroyan), 10000 drams (with a portrait of  Komitas), and 20000 drams (with a portrait of Hovhannes Aivazovsky).  The 500 dram banknotes of 1999 (with a portrait of Alexander  Tamanyan) have been mostly replaced by coins. In this regard, it  became necessary to withdraw 2nd generation banknotes from  circulation. For complete clarity, the Central Bank provides  comparative data as of March 1, 2025 on the share of 3rd and 2nd  generation banknotes in circulation: 1,000 drams of the 3rd  generation - 84% (2nd generation - 16%); 5,000 drams of the 3rd  generation - 84% (2nd generation - 16%); 10,000 drams of the 3rd  generation - 82% (2nd generation - 18%); and 20,000 drams of the 3rd  generation - 93% (2nd generation - 7%).

In the next 12 months, the share of 2nd generation banknotes of the  above denominations in circulation will decrease even more - to 3-4%.  Until April 15, 2026, the mentioned 2nd generation banknotes will  still be considered legal tender, after this date citizens can  exchange "old" banknotes for new ones free of charge and without  restrictions by contacting banks or the Central Bank.