Starting November 1st, having a 100 dram coin will be mandatory when using public transport, particularly when riding MAN, ZhongTong, and GazelCity vehicles.

We had approached the Central Bank of Armenia regarding these changes. We inquired whether the currently available 100 dram coins in Armenia would be sufficient to meet the demand. In response, they stated that the Central Bank ensures the continuity of cash circulation. In addition to the general cash demand, the CB also ensures the availability of necessary quantities for all nominal values in circulation.

We were also provided information about the 100 dram coins currently in circulation. The volume of 100 dram nominal value coins currently amounts to approximately 3.46 billion drams or 34,600,000 pieces (more than 10 pieces per resident).

Addressing the measures to be taken in case of a shortage of 100 dram coins, the competent authority stated that it can ensure the demand for coins of the specified nominal value in circulation.

It should be noted that today, during a press conference, CB Chairman Martin Galstyan, responding to a question about the scarcity of 100 dram coins, mentioned that this is the first time he has encountered this issue and will provide a written response.

Mariam Antonyan