It Is Known Which Banknotes Will Be Removed from Circulation After April 15

The second-generation banknotes will be removed from circulation once third-generation banknotes are fully integrated into the monetary system, and the second-generation banknotes are deemed physically unfit for circulation due to wear and tear.

Currently, a significant portion of second-generation banknotes exhibit high physical wear. Most of the circulating 1000, 5000, 10,000, and 20,000 dram banknotes are third-generation notes featuring the portraits of Paruyr Sevak, William Saroyan, Komitas, and Ivan Aivazovsky.

As for the 500 dram banknotes issued in 1999, featuring the portrait of Alexander Tamanian, they have mostly been replaced by coins, prompting the need to withdraw the aforementioned second-generation banknotes from circulation.

According to the latest decision, the following second-generation Armenian banknotes will be removed from circulation:

• 500 dram (featuring Alexander Tamanian, issued in 1999)
• 1000 dram (featuring Yeghishe Charents, issued in 1999, 2001, 2011, 2015)
• 5000 dram (featuring Hovhannes Tumanyan, issued in 1999, 2003, 2009, 2012)
• 10000 dram (featuring Avetik Isahakyan, issued in 2003, 2006, 2008, 2012)
• 20000 dram (featuring Martiros Saryan, issued in 1999, 2007, 2009, 2012)

Until April 15, 2026, these banknotes will be considered legal tender. After April 15, 2026, citizens can exchange all remaining 'old' banknotes without restriction and free of charge at commercial banks operating in the Republic of Armenia and at the Central Bank.