YEREVAN, July 12. /ARKA/. New composite banknotes of third generation will be put into use in Armenia in 2018, and they will gradually oust current banknotes, the press office of the Central Bank of Armenia reported on Wednesday.

The central bank says that the 25th anniversary of the Armenian dram will be marked in 2018.

The regulator says in its press release that a printing office will be chosen through a tender.

The new-generation banknotes will be designed in conformity with the central bank's special requirements.

In particular, the new banknotes will be highly protected and they will be more durable.

It has also become known from the central bank's press release that a banknote of the nominal value of 2,000 drams will be issued.

Instead, banknotes of the nominal value of 100,000 drams no longer will be issued.

The central bank's board, approved the idea to place Paruyr Sevak picture on a 1,000 drams banknote, Tigran Petrosyan on a 2,000 drams banknote, William Saroyan on a 5,000 drams banknote, Komitas on a 10,000 drams banknote, Hovhannes Aivazovsky on a 20,000 drams banknote and Saint Gregory the Illuminator on a 50,000 drams banknote.

The regulator has announced a contest to choose sketches for the banknotes. –0—-