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 In Armenia, 2nd generation banknotes are being withdrawn from circulation due to natural wear and tear.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According to this decision, the following denominations of the 2nd generation banknotes will be withdrawn from circulation: 500 drams issued in 1999 (with the portrait of Alexander Tamanyan); 1000 drams issued in 1999, 2001, 2011 and 2015 (with the portrait of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The message mentions that on July 11, 2017, the Central Bank announced: "The 2nd generation banknotes will only be withdrawn when the 3rd generation banknotes are put into circulation, and the 2nd generation banknotes become too worn for circulation."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.
