The possible redesign of Armenia’s 1,000 and 10,000 dram banknotes, which some citizens say are easy to confuse, has been discussed but would require significant expenses, said Martin Galstyan, governor of the Central Bank of Armenia.

Galstyan noted that U.S. dollar banknotes are similar in color, size and design, yet people generally do not confuse them, Panorama.am reports.

“I acknowledge that there is some similarity in the color palette, but if people pay attention, it should not be a problem,” he said.

According to the Central Bank chief, there was an attempt to slightly adjust the design.

“We discussed it and thought about it, but it would involve large costs. If I’m not mistaken, we modified the ‘10,000’ marking on the 10,000-dram note to make it more visible,” he said.

Galstyan also stated that new-generation banknotes are expected to remain in circulation for about 3–5 years.

He explained that the notes are composite, meaning they are not made entirely of paper but include plastic elements, which helps reduce wear and tear.

“We chose a path that reduces costs. Some things may change, but completely replacing the entire series would not be very reasonable at this moment. It is something that can be discussed,” Galstyan said.

On April 28, 2025, the Central Bank announced that, according to a decision by its board, second-generation banknotes will gradually leave circulation starting April 15, 2026, as they become worn through normal use.

In a July 11, 2017 Central Bank statement, it was noted that second-generation banknotes would be withdrawn only after third-generation banknotes are fully introduced across the entire cash circulation system and the older notes become physically unfit for circulation.