Nagorno Karabaj Banknotes Catalog
The history of banknotes in Nagorno Karabakh reflects the complex political situation in the region. Since its declaration of independence in 1991, Nagorno Karabakh has issued its own currency, although it is not internationally recognized. Banknotes in this region have evolved over time, reflecting its identity and aspirations.
Current banknotes in circulation
Currently, Nagorno Karabakh uses the dram as its official currency. Banknotes in circulation include denominations of 1, 5, 10, 10, 20, 50, 50, 100, 500, 1000, 5000 and 10000 dram. These banknotes feature images of historical monuments, cultural figures and characteristic landscapes of the region, such as the Gandzasar monastery and Mount Kirs. The current series, introduced in 2004, is characterized by its modern design and advanced security measures.
Old banknotes and relevant facts
Prior to the introduction of the dram, Nagorno Karabakh briefly used coupons as a temporary currency in 1994. These coupons, issued in denominations of 50, 100, 500 and 1000 dram, were a temporary solution during a period of economic instability. An important milestone in Nagorno Karabakh's notafilia was the issuance of its first official series of banknotes in 1995, which included denominations of 1, 5, 10 and 50 dram. These early banknotes featured simpler designs and basic security measures compared to current issues.
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📢 Nagorno Karabaj is a country that does not exist.This country is currently part of the old banknotes of Azerbaijan.
Valuable banknotes
The most valuable Nagorno Karabaj banknotes sought after by collectors are the following:
