CBA ISSUES 100.000 DRAM BANKNOTES

/PanARMENIAN.Net/
24.08.2009 17:37 GMT+04:00

/PanARMENIAN.Net/ On August 24, CBA board adopted a decision on
introducing a new banknote with a nominal value of AMD 100.000,
CBA board member Vakhtang Abbrahamyan told today a press conference
in Yerevan. Such decision, he said, was made after studying many
countries’ experience aimed at facilitating transactions for big
enterprises and promoting transactions in national currency.

Recent two years’ studies, especially those in the sphere of 50.000
Dram banknotes, show there is high demand for new, 100.000 Dram
banknotes. "CBA estimates 3% circulation for new banknote, and such
rate is deemed quite satisfactory," CBA board member said, adding
that new banknote’s circulation will not contribute to the growth
of inflation.

Referring to the history of creating the banknote, CBA expert Gevorg
Nubaryan said it was related to the ideology of disseminating
Christianity in Armenia. The new banknote depicts King Abgar V,
the first Armenian king to adopt Christianity. The front of the
banknote depicts him pointing at a canvas of the royal flag with a
lively portrait of Jesus Christ. The reverse of the banknote depicts
disciple Thaddeus handing the canvas to King Abgar V and his consequent
miraculous healing.