Central Bank Chairman Reveals Whether the Design of the 10,000 Dram Bill Will Change

The Chairman of the Central Bank, Martin Galstyan, acknowledged that the 1,000 and 10,000 dram notes are similar, and stated that they have considered this issue. However, he pointed out that changing banknotes would incur significant costs. This was mentioned during a press conference in response to a question about whether they intend to change at least the design of those banknotes since people often confuse the thousand-dram note with the 10,000-dram note.

“If I am not mistaken, we changed the '10000' inscription on the 10,000 dram bill to make it more prominent. There are also other arguments saying that U.S. dollars are all the same color, shape, and size, yet people are careful, and there are no issues; no one confuses the 10-dollar bill with the 20-dollar bill. I admit that there is some similarity in color shades, but in any case, if people are attentive, there should be no problem,” he stated.

When asked how often banknotes are changed, the Central Bank Chairman replied, “If I am not mistaken, we expect a lifespan of 3 to 5 years for our new generation of banknotes, because they are composite and not made solely of paper; they contain plastic elements that help reduce wear. This means we have gone down the path of reducing costs. There are things that change, but entirely changing the series at this moment might not be appropriate; that is a matter for discussion.”