The Central Bank of Armenia plans to issue a new series of banknotes in 2018 to coincide with the 25th Anniversary of the Armenian dram celebration.
The new banknotes will be technically more secure and durable. A printer will be chosen through a bidding process. There will be a contest to choose the design for the banknotes.
The current 100,000 drams denomination will be replaced with a new 2,000 drams.
The denominations for the new series are:
1,000 drams featuring Paruyr Sevak, one of the greatest Armenian poets of the 20th Century
2,000 drams featuring Tigran Petrosyan, World Chess Champion 1963-1969
5,000 drams: featuring William Saroyan, Armenian writer
10,000 drams featuring Komitas, Armenian priest and musician
20,000 drams featuring Hovhannes Alvazovsky, an Armenia painter specializing in Marine art
50,000 drams featuring Saint Gregory, the Illuminator