Armenia’s Central Bank has unveiled today hybrid banknotes “Noah’s Ark” with a face value of 500 drams. The size of the banknote is 140 x 76 mm. It is printed on high-quality Hybrid ™ composite material, covered on both sides with cotton paper and protected by a thin layer of polyester. The banknote has a multi-colored Noyan Tapan (Noah’s Ark) watermark, as well as a face value watermark.
According to Central Bank secretary general David Nahapetyan, the 500-dram collectible banknotes are a prototype of new third generation composite banknotes, which will go into circulation on November 22, 2018, when Armenia will mark the 25th anniversary of introduction of the national currency.
He said both commemorative coins and the collectible banknotes will go into circulation, but will not be a means of payment. “Noah’s Ark” banknotes can be obtained at the Central Bank’s “Dramaget” Museum for 1,700 drams. The bank has issued 300,000 such banknotes.
According to the head of the currency issue department of the Central Bank Nune Teryan, the new banknotes have a number of protective signs. She explained why the Central Bank chose the composite raw material Hybrid ™. According to her, such raw materials allow printing banknotes with traditional protective signs which paper banknotes have and use also innovative protection technologies. She said the Central Bank will be ensuring a smooth transition of the population to new banknotes.
“Over the past few years, many types of raw materials for banknotes have been created, the main purpose of which is to extend their circulation period, and naturally the most durable is the banknote made of polymers. But the Central Bank chose the most stress-free option for the population’s transition to new banknotes preferring the hybrid raw materials,” she said.
She noted that all the reading equipment of the Central Bank, which processes old-style banknotes, will be able to read also new-generation banknotes.
“Thus, the Central Bank will not have to spend money on the purchase of new equipment. This also applies to commercial banks. The ATMs and other equipment will be able to accept banknotes of the new and old generation.,” she said.