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In 1945, as Yugoslavia began to be reconstituted, the Yugoslav dinar replaced the Serbian dinar, Independent State of Croatia kuna and other occupation currencies, with the rates of exchanged being 1 Yugoslav dinar = 20 Serbian dinara = 40 kuna. [7] Yugoslavia was a founding member of the International Monetary Fund. At the time, other ...
The dinar (Serbian: динар, pronounced; paucal: dinara / динара; abbreviation: DIN and дин ; code: RSD) is the currency of Serbia. The dinar was first used in Serbia in medieval times, its earliest use dating back to 1214. The dinar was reintroduced as the official Serbian currency by Prince Mihailo in the 1868. One dinar was ...
Two series of 1946 dinar banknotes were printed, but never issued. One was the "reserve" series with the printing date of 1950 that was made up of 10 banknotes: 1, 2, 5, 10, 20, 50, 100, 500, 1000 and 5000 dinara. It was kept for emergency purposes, but was never issued to circulation. All banknotes were eventually destroyed in the middle 1970s.
The dinar (/ d ɪ ˈ n ɑː r /) is the name of the principal currency unit in several countries near the Mediterranean Sea, with a more widespread historical use. The English word "dinar" is the transliteration of the Arabic دينار ( dīnār ), which was borrowed via the Syriac dīnarā from the Latin dēnārius .
The National Bank of Serbia succeeds several institutions, all based in Belgrade, mirroring the complex history of Serbia throughout the 20th centuries. The first of these was established in 1884 as the Privileged National Bank of the Kingdom of Serbia. [3] In 2003 Bank succeeded its immediate predecessor, the National Bank of Yugoslavia.
When the second dinars was introduced later in 1 October 1993, [5] notes were issued in denominations of 5000, 50,000, 100,000, 500,000, 5 million, 100 million, 500 million, 5 billion, 10 billion and 50 billion. On 1 January 1994, [6] the third dinar was issued in denominations of 1000, 10,000, 500,000, 1 million and 10 million dinars.
1000 Serbian dinar banknote. The official currency in Serbia is the Serbian dinar and its earliest use dates back to 1214. Serbia historically has battled high inflation, especially during the 1980s and 1990s. In 1992 and 1993, it experienced a period of hyperinflation which lasted for a total of 25 months. [44]
Shown above is a 500 billion Yugoslav dinar banknote printed in 1993. The first hyperinflation of the Yugoslav dinar lasted from 1992 to 1994. Starting from 1992, the money supply of the Yugoslav economy grew enormously to fund the wars, resulting in a protracted hyperinflation episode which lasted for a total of 25 months. [11]