Armenia`s Central Bank head declines to comment on the shortage of  100-dram coins for public transport to avoid offending the mayor of  Yerevant 

ArmInfo. During a press conference on October 29, Martin Galstyan, the head of the Central Bank of Armenia, avoided answering a question about the shortage of 100-dram coins for public  transport, claiming that he was not aware of such a problem.  

The impression is that the shortage of 100-dram coins has been created by  citizens who have not yet switched to the electronic payment system  for public transport and are still forced to pay in cash. This issue  is actively discussed on social networks.  Additionally, when asked  about the sole organization that services the electronic payment  system for public transport - TelCell Wallet, and how even payments  from bank cards are made through this organization, the head of the  Central Bank replied: "The decision made by the mayor's office on the  services provided is not within the regulatory functions of the  Central Bank of the Republic of Armenia."

 Meanwhile, experts are inclined to believe that the decision of the  Yerevan City Hall to only accept 100- dram coins in public transport  contradicts the laws of the Republic of Armenia regarding the  regulation of the national currency. These laws clearly state that  there are no restrictions on the use of individual denominations. The  experts note that the Yerevan City Hall has thus arbitrarily assumed  the powers of the Central Bank, the only body with the authority to  determine the policy for the use of the national currency.   Additionally, they point out that there is a shortage of 100-dram  coins in the country, making it difficult for citizens to use public  transport without hindrance and without problems. They believe this  can potentially lead to market speculation.

 Note that according to a recent decision by the Yerevan  Municipality, starting from November 1, 2024, only 100-dram coins  will be accepted for payment on public transport. This can be done  either by inserting the coins into the cash register or making a  cashless payment via a terminal. Previously, if a citizen did not  have a 100-dram coin, they could exchange a coin of a larger  denomination with the driver or pay with two 50-dram coins. With its  new decision, the Yerevan Municipality has eliminated the option for  passengers to choose how they pay, without consulting the Central  Bank to ensure enough 100-dram coins are in circulation and without  considering the extent of their authority to impose such  restrictions.