New 1000 Dram Bills in Circulation

YEREVAN (Noyan Tapan)–Starting July 1st new 1000 dram bills (about $1.7) will begin circulation in Armenia–said Gevorg Toumanian–head of the emmissional operations and monetary reserves of the Armenian Central Bank–at a June 27 press conference. According to him–the new bills are on 100 percent cotton paper.

Regarding the degree of protection and recognition signs–there is a color portrait of Yeghishe Charents–and the bills have two spirals and threads. The elemen’s printed on both sides add on each other to form a full image.

Toumanian also said that the process of increasing the 5000 dram bill copies is underway–and added that it is planned to change and add protection signs–maintaining the looks of the bill.

Toumanian also informed that in 2003–new 10,000 dram bills will appear in circulation as well. It is also envisaged to issue 20–50–100–200 and 500 dram coins. In Toumanian’s words–the coins will be made of color metals and will be smaller in size than the current 10 dram coins.

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