ArmInfo. The Central Bank of Armenia announced the final withdrawal of this year's second- generation banknotes from circulation. According to a press release from the central bank, after April 15, 2026, citizens will be able to exchange all second-generation banknotes free of charge at commercial banks operating in the Republic of Armenia and at the Central Bank without any restrictions.
It is noted that the decision to withdraw the old banknotes was made by the Board of the Central Bank on April 28, 2025. Currently, the majority of second-generation banknotes are heavily worn, and the majority of the 1,000, 5,000, 10,000, and 20,000 dram banknotes in circulation are third-generation banknotes (bearing portraits of Paruyr Sevak, Vilhem Saroyan, Komitas, and Hovhannes Aivazovsky). At the same time, the 1999 500-dram banknotes (with the portrait of Alexander Tamanyan) have been largely replaced by coins in circulation, so it became necessary to withdraw the aforementioned second-generation banknotes from circulation.
In accordance with the above-mentioned decision, the following second-generation Armenian banknotes will be withdrawn from circulation:
500 drams issued in 1999 (with the portrait of Alexander Tamanyan)
1000 drams issued in 1999, 2001, 2011, 2015 (with the portrait of Yeghishe Charents)
5000 drams issued in 1999, 2003, 2009, 2012 (with the portrait of Hovhannes Tumanyan)
10,000 drams issued in 2003, 2006, 2008, 2012 (with the portrait of Avetik Isahakyan)
20,000 drams issued in 1999, 2007, 2009, 2012 (with the portrait of Martiros Saryan)
Until April 15 From 2026, these banknotes will be considered legal tender, and after April 15, 2026, citizens will be able to exchange all remaining old-style banknotes for new ones free of charge and without restrictions at all commercial banks in Armenia and the Central Bank of Armenia.
