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The dinar (Cyrillic script: динар) was the currency of the three Yugoslav states: the Kingdom of Yugoslaviamarker (formerly the Kingdom of Serbs, Croats and Slovenesmarker), the Socialist Federal Republic of Yugoslaviamarker and the Federal Republic of Yugoslaviamarker between 1918 and 2003. The dinar was subdivided into 100 para (Cyrillic script: пара).

There were eight distinct dinari, with hyperinflation in the early 1990s causing five revaluations between 1990 and 1994. Each of the eight has been given a distinguishing name and a separate ISO 4217 code.

History

Reforms of the Yugoslav dinar
Date Conversion Rate
January 1, 1966 100
January 1, 1990 10,000
July 1, 1992 10
October 1, 1993 1,000,000
January 1, 1994 1,000,000,000
January 24, 1994 ~13 million


1918-1941; Serbian dinar, YUS

Until 1918, the dinar was the currency of Serbiamarker. It then became the currency of the Kingdom of Serbs, Croats and Slovenesmarker, circulating alongside the krone in Croatiamarker, Sloveniamarker and Bosnia and Herzegovinamarker, with 1 dinar = 4 kronen. The first coins and banknotes bearing the name of the Kingdom of Serbs, Croats and Slovenes were issued in 1920, until which time Serbian coins and banknotes circulated. In 1929, the name of the country changed to Yugoslavia and this was reflected on the currency.

In 1931, an exchange rate of 56.4 dinara = 1 U.S. Dollar was set, which changed to 44 dinara in 1933. In 1937, a tourist exchange rate of 250 dinara = 1 British pound was established.

World War II (1941-1945)

In 1941, Yugoslavia was invaded and split up, with the dinar remaining currency in Nedić's Serbia as Serbian dinar). The kuna was introduced in Croatiamarker and Bosnia and Herzegovinamarker (Independent State of Croatiamarker) at par with the dinar, whilst the Bulgarian lev, Italian lira and German Reichsmark circulated in those part of Yugoslavia occupied by these countries.

1944-1965; Federation dinar, YUF

In 1944, 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. In May 1945, a peg of 50 dinara = 1 U.S. dollar was established but was not maintained.

1966-1989; Hard dinar, YUD

On January 1, 1966, the first of five revaluations took place, at a ratio of 100 to 1. This currency was never very stable, suffering from an inflation rate of 15 to 25 percent per year [179819]. In the late 1980s the inflation rate accelerated, causing the currency to be revalued at the beginning of 1990.

1990-1992; Convertible dinar, YUN

Coat of arms of the SFR Yugoslavia
The second revaluation took place in January 1, 1990, at a ratio of 10,000 to 1. During this period, the constituent republics began to leave the Socialist Federal Republic of Yugoslaviamarker. Four of the six republics declared independence and issued their own currencies shortly after. This was the last dinar that bore the coat of arms and the name of the "Socialist Federal Republic of Yugoslavia" in multiple languages.

Country Currency Date Adopted Value
Bosnia and Herzegovinamarker Dinar 1992-07 1 dinar of 1992
Croatiamarker Dinar 1991-12-23 1 dinar of 1990
Macedoniamarker Denar 1992-04-26 1 dinar of 1990
Sloveniamarker Tolar 1991-10-08 1 dinar of 1990
Serbian enclaves in Croatia and Bosnia and Herzegovina also issued currencies in dinar, equivalent to and revalued together with the Yugoslav dinar. These were the Krajina dinar and the Republika Srpska dinar.

1992-1993; Reformed dinar, YUR

The third revaluation took place on July 1, 1992, at a ratio of 10 to 1. Hyperinflation began to occur during this currency's period of circulation. This dinar was issued in the then Federal Republic of Yugoslaviamarker, which consisted of the remaining republics of Serbiamarker and Montenegromarker. (This federation split in 2006 and Montenegro currently uses the Euro as its currency, though it does not mint it.)

1993; October dinar, YUO

The fourth revaluation took place on October 1, 1993, at a ratio of 1 million to 1. This revaluation did not interrupt the hyperinflation and the currency lasted a mere three months.

1994; January dinar, YUG

The fifth revaluation took place on January 1, 1994, at a ratio of 1 billion (109) to 1. This currency suffered from the worst hyperinflation of all the dinar and was replaced within one month.

1994-2003; Novi dinar, YUM

On January 24, 1994, the novi dinar (nominative plural: novi dinari, Cyrillic script: нови динар, нови динари; genitive plural: novih dinara, Cyrillic: нових динара; novi means new) was introduced. This was not a revaluation of the dinar. Instead, the novi dinar was pegged at par to the Deutsche Mark. On the day of the introduction of the novi dinar, the exchange rate of the previous dinar to the Deutsche Mark, and, hence, to the novi dinar, was approximately 1 DM = 13 million dinara. Despite not being pegged to the newest currency, the previous dinar did not fall further in value, remaining at about 12 million "1994" dinar to the novi dinar.[179820] The overall impact of the hyperinflation was that 1 novi dinar equalled approximately 1.2 third (hard) dinara from before 1990, 1.2 Federation dinara, or 2.4 pre-war dinara. The "novi" portion of the name was abandoned in 2000.

Replacement of the dinar

On November 6, 1999, Montenegromarker decided that, besides the Yugoslav dinar, the Deutsche Mark would also be an official currency. On November 13, 2000, the dinar was dropped and the Deutsche Mark (by that time defined in terms of the euro) became the only currency. In 2003, the end of Yugoslavia led to the dinar, by then only used in Serbia, being replaced at par by the Serbian dinar.

Coins

1918 dinar

In 1920, the first coins were minted in the name of the Kingdom of Serbs, Croats and Slovenes. They were zinc 5 and 10 para and nickel-bronze 25 para. These were followed, in 1925, by nickel-bronze 50 para, 1 and 2 dinara. From 1931, coins were minted in the name of Yugoslavia, starting with silver 10 and 20 dinara, followed by silver 50 dinara in 1932. In 1938, aluminium-bronze 50 para, 1 and 2 dinara, nickel 10 dinara and reduced size, silver 20 and 50 dinara were introduced. These were the last coins issued before the Second World War.

1944 dinar

In 1945, zinc 50 para, 1, 2 and 5 dinara were introduced, followed in 1953 by aluminium coins for the same denominations. In 1955, aluminium-bronze 10, 20 and 50 dinara were added.

1966 dinar

Selection coins (Front)
Selection coins (Reverse)
5 para coin, 1965
In 1966, brass 5, 10, 20 and 50 para, and cupro-nickel 1 dinar coins (dated 1965) were introduced. In 1971, nickel-brass 2 and 5 dinara were introduced, followed by cupro-nickel 10 dinara in 1976. Production of 5, 10 and 20 para coins ceased in 1981, with bronze 25 and 50 para being introduced the following year. Nickel-brass 20, 50 and 100 dinara were introduced in 1985 and production of all coins less than 10 dinara stopped the next year. In 1988, brass 10, 20, 50 and 100 dinara were introduced. These four coins were issued until 1989.

1990 dinar

In 1990, coins for 10, 20 and 50 para, 1, 2 and 5 dinara were introduced. The highest two denominations were minted in small numbers in 1992, the other denominations having ceased production in 1991.

1992 dinar

Coins were issued for this currency in 1992 in denominations of 1, 2, 5, 10 and 50 dinara. The 1, 2 and 5 dinara were bronze, whilst the 10 and 50 dinara were nickel-brass. The coins bore the state title "Yugoslavia" (Jugoslavija in the Latin alphabet and Југославија in Cyrillic) in its simplest form without any modifier.

1993 dinar

Coins were issued in 1993 in denominations of 1, 2, 5, 10 and 50 dinara struck in nickel-brass, and 100 dinara struck in brass. Brass 500 dinara coins were also struck but not issued, most being remelted. The design of these coins was similar to that of coins of the fifth dinar, except that the sixth dinar coins bore the state title "FR Yugoslavia" (SR Jugoslavija in Latin and СР Југославија in Cyrillic).

1994 dinar

Only one coin type was struck for this short-lived currency, a brass 1 dinar.

Novi dinar

In 1994, brass 1 and 5 para, and nickel-brass 10 and 50 para, and 1 novi dinar were introduced. In 2000 the word novi was dropped from the currency and new, brass 50 para, 1, 2 and 5 dinara coins were introduced.

Banknotes

1918 dinar

In 1920, the National Bank of the Kingdom of Serbs, Croats and Slovenesmarker issued notes for 10, 100 and 1000 dinara.
1920-1926 Series
Image Value Dimensions Colour Obverse Reverse First printed date
10 dinara Blue man with a wheel 1920
Red a woman coat of arms, silhouette of a church 1926
100 dinara Yellow a woman ships and a peasant 1920
1000 dinara Violet Saint George and the Dragon man ploughing, different cities
These images are to scale at 0.7 pixels per millimetre, a standard for world banknotes.


Following the change of the country's name to Yugoslavia in 1929, modified 10 and 100 dinara notes were issued, followed by new 1000 dinara notes in 1931 and 500 dinara notes in 1935.

1929-1939 Series
Image Value Dimensions Colour Obverse Reverse First printed date
10 dinara Green King Peter
Old Bridgemarker in Mostarmarker
a woman 1939
20 dinara Brown King Peter a womam 1936
50 dinara Brown King Aleksandar a horsman statue 1931
100 dinara Violet a woman with sword ships and a peasant 1929
a woman and a soldier two working women 1934
500 dinara Blue King Peter women working 1935
1000 dinara Yellow Queen Maria two women, one with a sickle and wheat, another with sword and shield 1931
three horsemen and a woman
a teacher and a pupil
a fisherman and a blacksmith 1935
10,000 dinara Brown King Peter two farm workers 1936
These images are to scale at 0.7 pixels per millimetre, a standard for world banknotes.


1944 dinar

In 1944, the Democratic Federation of Yugoslavia issued notes for 1, 5, 10, 20, 50, 100, 500 and 1000 dinara.

1944 Series
Image Value Dimensions Colour Obverse Reverse First printed date
1 dinar partisan coat of arms
indication of value
1944
5 dinara blue
10 dinara pink
20 dinara red
50 dinara dark blue
100 dinara dark green
500 dinara brown
1000 dinara green
These images are to scale at 0.7 pixels per millimetre, a standard for world banknotes.


These were followed in 1946 by notes of the National Bank of the Federal People's Republic for 50, 100, 500 and 1000 dinara. 5000 dinara notes were introduced in 1950.

1946-1950 Series
Image Value Dimensions Colour Obverse Reverse First printed date
50 dinara Yellow a miner a lumberjack 1946
100 dinara Brown a blacksmith and a harvester a fisherman
500 dinara Brown a partisan farmer ploughing
1000 dinara Brown working woman waterfall and a figure of a woman with a sword
Green tractor driver (left), harvesters (right) bricklayers (left), miners (right) 1949
5000 dinara Dark blue a ship in the harbour steel mill workers 1950
These images are to scale at 0.7 pixels per millimetre, a standard for world banknotes.


The new banknotes were issued in 1955.

1955-1963 Series
Image Value Dimensions Colour Obverse Reverse First printed date
100 dinara Red a woman Dubrovnikmarker 1955
500 dinara Green woman with sickle harvest
1000 dinara Brown Arif Heralić a factory
5000 dinara Dark blue Relief by Ivan Meštrović at the Federal Parliament building Federal Parliament building
10,000 dinara Red The Monument of Peace by Antun Augustinčić in New Yorkmarker in front of the UN Buildingmarker peace dove 1963
50,000 dinara Green Statue of Nikola Tesla (in the Niagara Falls State Parkmarker) by Frano Kršinić
background: the spiral coil of his high-frequency transformer at East Houston Street, New Yorkmarker
hydro plant
These images are to scale at 0.7 pixels per millimetre, a standard for world banknotes.


1966 dinar

In 1966, banknotes (dated 1965) were introduced in denominations of 5, 10, 50 and 100 dinara. They used the same obverse design as the 1955-1963 notes. 500 dinara notes were added in 1970, followed by 20 and 1000 dinara in 1974.

1965-1981 Series
Image Value Dimensions Colour Obverse Reverse First printed date
5 dinara 123 x 59 mm Green Woman with sickle tractors 1965
Indication of value 1968
10 dinara 131 x 62 mm Brown Arif Heralić a factory 1965
Indication of value 1968
20 dinara 139 x 65 mm Violet Ship dockside Indication of value 1974
50 dinara 140 x 66 mm Blue Relief by Ivan Meštrović at the Parliament building in Belgrademarker Federal Parliament Building 1965
Indication of value 1968
100 dinara 148 x 70 mm Red The Monument of Peace by Antun Augustinčić (1900 – 1979) in New Yorkmarker in front of the main UN buildingmarker. 1965
500 dinara 156 x 74 mm Dark green 1970
1000 dinara 164 x 78 mm Dark blue Woman with fruits 1974
These images are to scale at 0.7 pixels per millimetre, a standard for world banknotes.


In 1985, a new series of notes began with the introduction of 5000 dinara notes featuring a portrait of the late President Tito. As the inflation worsened, banknotes for 20,000 dinara were introduced in 1987, followed by 50,000 dinara in 1988 and 100,000, 500,000, 1 million and 2 million dinara in 1989. The 500,000 and 2 million dinara notes were unusual in that they did not feature a portrait but an image of the monument on Kozaramarker.

1985-1989 Series
Image Value Dimensions Colour Obverse Reverse First printed date
5,000 dinara Violet Josip Broz Tito Jajce 1985
20,000 dinara Brown Alija Sirotanović Mining equipment 1987
50,000 dinara Green a woman Dubrovnikmarker 1988
100,000 dinar Red a girl various letters and numerals 1989
500,000 dinara Violet Battle of Kozara Memorial Battle of Sutjeska Memorial
1,000,000 dinara Brown a young woman a spike of wheat
2,000,000 dinara Purple Battle of Kozara Memorial "Broken wings" monument in Šumarice
These images are to scale at 0.7 pixels per millimetre, a standard for world banknotes.


1990 dinar

In 1990, notes were introduced for 10, 50, 100, 200, 500 and 1000 dinara, some of which had designs very similar to those used for the corresponding notes of the previous currency. In 1991, 5000 dinara notes were added.

1990-1991 Series
Image Value Dimensions Colour Obverse Reverse First printed date
10 dinara red a girl various letters and numerals 1990
violet 1991
50 dinara violet Battle of Kozara memorial Battle of the Sutjeska Memorial 1990
purple a boy flowers
red 1991
100 dinara brown young woman spike of wheat 1990
dark green 1991
200 dinara dark green and red Battle of Kozara memorial "Broken wings" monument in Šumarice 1990
500 dinara blue young man mountain
brown 1991
1000 dinara orange Nikola Tesla Tesla coil 1990
blue 1991
5000 dinara violet Ivo Andrić Mehmed Paša Sokolović Bridgemarker
These images are to scale at 0.7 pixels per millimetre, a standard for world banknotes.


1992 dinar

In 1992, notes for 100, 500, 1000, 5000, 10,000 and 50,000 dinara were introduced. Again, designs modified from the previous series of notes were used but this time not in order that notes of equal value had similar designs. In 1993, higher value notes were introduced for 100,000, 500,000, 1 million, 5 million, 10 million, 50 million, 100 million, 500 million, 1 milliard (billion) and 10 milliard dinara.

1992-1993 Series
Image Value Dimensions Colour Obverse Reverse First printed date
100 dinara Blue a young woman a spike of wheat 1992
500 dinara Pink a young man mountain
1000 dinara Red Nikola Tesla Tesla coil
5,000 dinara Dark green Ivo Andric Mehmed Paša Sokolović Bridgemarker
10,000 dinara Brown a girl various letters and numerals
50,000 dinara Green a boy flowers
100,000 dinara Yellow a young woman a spike of wheat 1993
500,000 dinara Violet a young man mountain
1 Million dinara Violet a boy flowers
5 Million dinara Blue and dark red Nikola Tesla Tesla coil and a hydro power plant
10 Million dinara Dark green Ivo Andrić National Library of Serbiamarker
50 Million dinara Red a girl Captain Miša's Mansion
100 Million dinara Light blue a young man Serbian Academy of Sciences and Arts
500 Million dinara Violet a young woman Faculty of Agriculture of the University of Belgrade
1 Billion dinara Pink a girl Federal Parliament
10 Billion dinara Pink Nikola Tesla Tesla coil
These images are to scale at 0.7 pixels per millimetre, a standard for world banknotes.


1993 dinar

Banknotes for this currency were issued in denominations of 5000, 10,000, 50,000, 500,000, 1 million, 5 million, 50 million, 500 million, 5 billion, 50 billion and 500 billion. The unusual sequence of denominations was caused by the hyperinflation Yugoslavia was suffering from.
1993 Series
Image Value Dimensions Colour Obverse Reverse First printed date
5,000 dinara Brown Nikola Tesla Nikola Tesla Museummarker 1993
10,000 dinara Red and green Vuk Karadžić Tršićmarker and Tronoša
50,000 dinara Violet Petar Petrović Njegoš Cetinje monastery
500,000 dinara Green Dositej Obradović Hopovo monastery
5,000,000 dinara Brown and blue Karađorđe Church and mansion of Karađorđe
50,000,000 dinara Red Mihajlo Pupin Telephone Exchange building
500,000,000 dinara Blue Jovan Cvijić Captain Miša's Mansion
5,000,000,000 dinara Brown Đura Jakšić Vraćevšnica monastery
50,000,000,000 dinara Red and blue Miloš Obrenović Prince Miloš's Residence
500,000,000,000 dinara Dark red Jovan Jovanović Zmaj National Library of Serbiamarker
These images are to scale at 0.7 pixels per millimetre, a standard for world banknotes.


1994 dinar

In January, 1994, notes were issued for 10, 100, 1000, 5000, 50,000, 500,000 and 10 million dinara. They circulated for just a few weeks before the currency was abandoned in favour of the novi dinar.

1994 Series
Image Value Dimensions Colour Obverse Reverse First printed date
10 dinara Green Josif Pancic mountain 1994
100 dinara Blue and red Nikola Tesla Nikola Tesla Museummarker
1000 dinara Violet and red Petar Petrović Njegoš Cetinje monastery
5000 dinara Blue and violet Dositej Obradović Hopovo monastery
50,000 dinara Red Karađorđe Church and mension of Karađorđe
500,000 dinara Yellow Jovan Cvijic Captain Miša's Mansion
10,000,000 dinara Dark green Ivo Andric National Library of Serbiamarker
These images are to scale at 0.7 pixels per millimetre, a standard for world banknotes.


Novi dinar

On January 24, 1994, notes were introduced for 1, 5 and 10 novih (new) dinara. A second series of notes was introduced later in the year for 5, 10 and 20 novih dinara, with 50 and 100 novih dinara notes added in 1996.

1994-1996 "Novi dinar" Series
Image Value Dimensions Colour Obverse Reverse First printed date
1 novi dinar Brown and blue Josif Pancic mountain 1994
5 novih dinara Red Nikola Tesla Nikola Tesla Museummarker
Violet
10 novih dinara Violet Petar Petrovic Njegos Cetinje monastery
Brown
20 novih dinara Dark green and brown Djura Jaksic Vraćevšnica monastery
50 novih dinara Green Milos Obrenovic Prince Miloš's Residence 1996
100 novih dinara Dark green Dositej Obradovic Hopovo monastery
These images are to scale at 0.7 pixels per millimetre, a standard for world banknotes.


In 2000, new notes without the word "novih" were issued in denominations of 10, 20, 50 and 100 dinara. 200 and 1000 dinara notes were introduced in 2001, followed by 5000 dinara in 2002.

2000-2002 Series
Image Value Dimensions Colour Obverse Reverse First printed date
10 dinara Ochre-yellow Vuk Karadžić
Filip Višnjić in the background
Figure of Vuk Karadžić
Members of the First Slavic Congress held in Praguemarker in 1848
Vignette of the letters Vuk introduced

2000
20 dinara Green Petar Petrović Njegoš Statue of Njegoš from the Njegoš's mausoleum
Mount Lovćenmarker
50 dinara Purple Stevan Mokranjac
A piano
Figure of Mokranjac
A motif of Miroslav Gospels illumination scores
Notes

100 dinara Blue Nikola Tesla
Deffinition of Tesla
Portrait of Nikola Tesla
A detail from the Tesla's AC motor
200 dinara Brown Nadežda Petrović
Statue of Nadežda Petrović
Silhouette of the Gračanica Monasterymarker

Figure of Nadežda Petrović
Gračanica Monasterymarker
2001
1000 dinara Red Đorđe Vajfert
An outline of Vajfert's brewery
Portrait of Vajfert
Hologram image of St. George and the Dragon
Details from the interior of the old building of the National Bank of Yugoslavia

5000 dinara Purple and green Slobodan Jovanović
Ornamental detail from the building of the Serbian Academy of Sciences and Arts
Portrait of Slobodan Jovanović
Silhouette of the National Parliament
2002
These images are to scale at 0.7 pixels per millimetre, a standard for world banknotes.


The current Serbian dinar banknotes use almost the same design as the 2000-2002 Yugoslav notes. The main difference is that the words Narodna Banka Jugoslavije (National Bank of Yugoslavia) are changed to Narodna Banka Srbije (National Bank of Serbia) and the coat of arms of Serbia and Montenegro is changed to Serbian coat of arms.

See also



References



External links




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