By Krikor Amirzayan (in French)
Translated into English by The California Courier
“I acknowledge that confusion exists between the 1,000 and 10,000 dram banknotes, but replacing them would entail significant costs,” stated Martin Galstyan, President of the Central Bank of Armenia, during a press conference held in Yerevan last week.
“We attempted to modify the ‘10,000’ denomination displayed on the older version of the 10,000-dram banknote—if I am not mistaken—in an effort to clarify the situation. One could also argue that all $10 bills share essentially the same color, size, and shape; yet, people remain attentive, and no issues arise—no one confuses a $10 bill with a $20 bill,” he emphasized.
Regarding the new generation of banknotes, Martin Galstyan added that—unless he is mistaken—these bills have a lifespan of three to five years and are composed not only of paper but also of plastic elements, which reduces wear and tear. According to the President of the Central Bank of Armenia, this choice was made with the aim of reducing costs.
