10 000 Dram

Armenia's 10,000 Dram note on hybrid substrate — a polymer-paper composite rather than pure polymer — reflects a practical compromise adopted by several smaller central banks in the 2010s seeking improved durability without committing fully to polymer. G+D's hybrid product offers better ink adhesion than pure polymer, which matters for the dense intaglio work Armenian notes typically carry.

Giesecke+Devrient has supplied Armenian banknotes since the early series of the mid-1990s, making this a long-standing relationship rather than a one-off contract.