The Armenian government will start circulating a new banknote with the face value of 50,000 dram (approximately $100). The currency board of the Armenian Central Bank has decided to put the new banknote into circulation on June 4. Central Bank spokesman Gevorg Tumanian told journalists today that the new banknote has a special design expressing the symbolism of the 1700th anniversary of Christianity in Armenia. It will have a picture of Holy Echmiadzin on the front and pictures of the biblical Mount "Ararat" and Grigory the Illuminator on the back.
New 5000 Dram Banknote
Tumanian said that the Catholicos of All Armenians Garegin II has approved the design of the banknote and given it his blessing. The Central Bank spokesman also said that the banknote has special protective features which make it almost impossible to counterfeit. He rejected the suggestion that introducing new banknotes with a high nominal value could be a sign of inflation. The Armenian government recently introduced several new banknotes with a high face value. Tumanian said that the Armenian dram has never been so stable as it is now. He said that there is a growing demand for high denomination banknotes, especially for the newly introduced 20,000 dram banknote.