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New, composite banknotes are due to be introduced in Armenia starting from November 22, gradually removing the current ones from circulation.

The new third-generation bills will be put into circulation to mark the 25th anniversary of the introduction of the Armenian national currency, a video posed by the Central Bank on Facebook revealed.

Like the current banknotes, the new ones will also bear the images of noted Armenians: 1,000 dram banknote depicts poet Paruyr Sevak, 5,000 dram – writer William Saroyan, 10,000 dram – composer Komitas, 20,000 dram – painter Hovhannes (Ivan) Aivazovsky and the 50,000 bill depicts St. Gregory the Illuminator.

A new 2,000-dram bill is expected to be introduced as well, with the image of former world chess champion Tigran Petrosian.

No new issue of the 100,000-dram bill is planned.

The new banknotes are said to be more durable and protected, with an average 3-4 times higher lifecycle.