Central Bank Of Armenia Introduces 100,000 AMD Banknote


2009-08-24 20:10:00

ArmInfo. The Central Bank of Armenia has introduced 100,000 AMD
banknote, the member of the Board of the CB Vakhtang Abrahamyan said
during a press-conference today. This is one more step to ensure the
necessary cash flow and to support individuals and companies carrying
out big transactions.

Abrahamyan said that there was demand for such a banknote. "In order
to ensure effective cash flow, we have decided to diversify our
banknotes following the international experience. The issue of the
banknote will not cause inflation. The 50,000 AMD banknote has just
7% of the cash flow. The 100,000 AMD banknote will get no more than
3%. This will hardly have any influence on the economy." "Economic
decline does not imply stoppage of big deals. On the contrary, today
is the right moment for conducting such deals."

The coin expert of the Central Bank Gevork Mugalyan said that the
banknote had been made by de La Rue Currency company (UK) and was
very attractive for coin collectors.

The face side of the banknote pictures a fragment of Mkrtum
Hovnatanyan’s icon of King of Edessa Abgar V, the first Christian
Armenian king. At the background you can see a fragment of the map
of Edessa.

On the back side of the banknote you can see a fragment of the ancient
cloth picturing Thaddeus handing Abgar V a canvass with the image of
his teacher Jesus Christ, the image that cured the ailing king. Head of
the Payment and Settlement Systems department of the CB Simon Simonyan
said that the new banknote was even more fraud-proof than the 50,000
AMD one. "For the first time ever we have applied four-color engraved
printing. The banknote also has the second magnetic strip. We have
applied multi-color technique ensuring high multi-layer protection. In
terms of its fraud proofness this banknote meets all international
standards," Simonyan said.

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