In 1998, the Central Bank of Armenia issued 50-dram banknotes depicting Khachaturian's portrait and the Yerevan Opera Theater on the obverse and an episode from the ballet Gayane and Mount Ararat on the reverse. It remained in use until 2004 when it was replaced by a coin. He is one of the two composers depicted on the Armenian currency (the other is Komitas, who is depicted on the 10,000 dram banknote since 2018).