Armenian bank replaces banknotes with coins

Mediamax news agency, Yerevan, in Russian
9 Mar 04

Armenian bank replaces banknotes with coins


The Central Bank of Armenia will withdraw 10, 25, 50, 100 and 200-dram
banknotes from circulation from 1 April, the chief of the Central
Bank’s department for emission operations and money reserves, Gevorg
Tumanyan, told a briefing in Yerevan today, according to Mediamax.

Those banknotes can be exchanged for coins at any commercial bank or
at the Central Bank, he said.

New 50, 100, 200 and 500 drams coins have been in circulation since
31 March 2003. There were no cases of forging coins in 2003, Gevorg
Tumanyan said today.