Yugoslav dinar

Yugoslav dinar
Yugoslav dinar
динар / dinar (Serbo-Croatian)
1 dinar (1965) 1000 dinara (1981)
1 dinar (1965) 1000 dinara (1981)
User(s)  Kingdom of Yugoslavia
 SFR Yugoslavia
 FR Yugoslavia
Subunit
1/100 para
Symbol din. and дин.
Plural The language(s) of this currency belong(s) to the Slavic languages. There is more than one way to construct plural forms. See article.
Coins 50 para, 1, 2, 5 dinara
Banknotes 10, 20, 50, 100, 200, 500, 1000, 5000 - 500 Billion dinara
This infobox shows the latest status before this currency was rendered obsolete.

The dinar (Cyrillic script: динар) was the currency of the three Yugoslav states: the Kingdom of Yugoslavia (formerly the Kingdom of Serbs, Croats and Slovenes), the Socialist Federal Republic of Yugoslavia and the Federal Republic of Yugoslavia 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. Six of the eight have been given distinguishing names and separate ISO 4217 codes.

Contents

History

Reforms of the Yugoslav dinar
Date Conversion Rate
November 29, 1944 20
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

1920-1941; Serbian dinar

Until 1918, the dinar was the currency of Serbia. It then became the currency of the Kingdom of Serbs, Croats and Slovenes, circulating alongside the krone in Croatia, Slovenia and Bosnia and Herzegovina, 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 Croatia and Bosnia and Herzegovina (Independent State of Croatia) 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

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 [1]. 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 Socialist Federal Republic of Yugoslavia.

The second revaluation took place on 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 Yugoslavia. 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 Herzegovina Dinar 1992-07 1 dinar of 1992
Croatia Dinar 1991-12-23 1 dinar of 1990
Macedonia Denar 1992-04-26 1 dinar of 1990
Slovenia 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 Yugoslavia, which consisted of the remaining republics of Serbia and Montenegro. (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.[2] The overall impact of the hyperinflation was that 1 novi dinar equalled approximately 1.2×1027 third (hard) dinara from before 1990, 1.2×1029 Federation dinara, or 2.4 ×1030 pre-war dinara. The "novi" portion of the name was abandoned in 2000.

Replacement of the dinar

On November 6, 1999, Montenegro 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

1920 dinar

1 Dinar 1938

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

See also

References

External links

KSCS/Yugoslav dinar (1918–1941)
Preceded by:
Serbian dinar
Location: Serbia
Reason: creation of Kingdom of Serbs, Croats, and Slovenes
Ratio: 1 KSCS dinar=1 Serbian dinar
Currency of Kingdom of Serbs, Croats, and Slovenes
1918 – 1929
Currency of Kingdom of Yugoslavia
1929 – 1941
Succeeded by:
Serbian dinar
Location: Serbia without its southern and northern portions
Reason: occupation by Germany
Ratio: at par
Succeeded by:
Croatian kuna
Location: Independent State of Croatia
Reason: independence
Ratio: at par
Succeeded by:
Italian lira
Location: Montenegro, Italy annexed portion of Slovenia
Reason: Italian occupation
Preceded by:
Yugoslav krone
Location: Bosnia and Herzegovina, Croatia, Slovenia
Reason: incorporation of previously Austro-Hungarian provinces into Kingdom of Serbs, Croats, and Slovenes
Ratio: 1 dinar=4 kronen
Succeeded by:
German Reichsmark
Location: Nazi Germany annexed portion of Slovenia
Reason: annexation by Germany
Succeeded by:
Hungarian pengő
Location: Backa, Medimurje, Prekmurje
Reason: annexation by Hungary
Preceded by:
Montenegrin perper
Location: Montenegro
Reason: incorporation into Kingdom of Serbs, Croats, and Slovenes
Ratio: 1 dinar=1 perper
Succeeded by:
Bulgarian lev
Location: Eastern Macedonia
Reason: Annexation by Bulgaria
Succeeded by:
Albanian lek
Location: Kosovo and Western Macedonia
Reason: annexation by Albania
Yugoslav dinar (1944–1966)
Preceded by:
Serbian dinar
Location: Serbia without its southern and northern portions
Reason: reunification as a result of World War II
Ratio: 1 Yugoslav dinar=20 Serbian dinara
Currency of Democratic Federal Yugoslavia
1944 – 1946
Currency of Federal People's Republic of Yugoslavia
1946 – 1963
Currency of Socialist Federal Republic of Yugoslavia
1963 – 1965
Succeeded by:
1966 dinar
Ratio: 1 dinar (1966)=100 dinara (1944)
Preceded by:
Croatian kuna
Location: Independent State of Croatia
Reason: reunification as a result of World War II
Ratio: 1 dinar=40 kuna
Preceded by:
Italian lira
Location: Montenegro
Reason: re-integration to Yugoslavia
Preceded by:
German Reichsmark
Location: Slovenia
Reason: re-integration to Yugoslavia
Preceded by:
Hungarian pengő
Location: Backa, Medimurje, Prekmurje
Reason: re-integration to Yugoslavia
Preceded by:
Bulgarian lev
Location: Eastern Macedonia
Reason: re-integration to Yugoslavia
Preceded by:
Albanian lek
Location: Kosovo and Western Macedonia
Reason: reunification as a result of World War II and end of Albanian occupation
Yugoslav dinar (1966–1990)
Preceded by:
1944 dinar
Ratio: 1 dinar (1966)=100 dinara (1944)
Currency of Socialist Federal Republic of Yugoslavia
1966 – 1990
Succeeded by:
1990 dinar
Ratio: 1 dinar (1990)=10,000 dinara (1966),
7 dinara (1990)=1 Deutsche Mark
Yugoslav dinar (1990–1992)
Preceded by:
1966 dinar
Ratio: 1 dinar (1990)=10,000 dinara (1966),
7 dinara (1990)=1 Deutsche Mark
Currency of Socialist Federal Republic of Yugoslavia
1990 – 1991 and 1992
Note: various dates of independence and introduction of independent currencies
Succeeded by:
1992 dinar
Location: Federal Republic of Yugoslavia (Serbia and Montenegro)
Ratio: 1 dinar (1992)=10 dinara (1990)
Note: July, 1992
Succeeded by:
Bosnia and Herzegovina dinar
Location: Bosnia and Herzegovina except for Republika Srpska
Reason: independence
Ratio: 1 B&H dinar=10 dinara (1990)
Note: independence in March, 1992,
new currency in July, 1992
Succeeded by:
Republika Srpska dinar
Location: Republika Srpska (part of Bosnia)
Ratio: 1 Republika Srpska dinar=10 dinara (1990)
Note: independence in November, 1991,
new currency on July, 1992, and remained at par with Yugoslav dinar
Succeeded by:
Croatian dinar
Location: Croatia except for Republic of Serbian Krajina
Ratio: at par
Note: independence on June 25, 1991,
new currency on December 23, 1991
Succeeded by:
Krajina dinar
Location: Republic of Serbian Krajina (part of Croatia)
Ratio: 1 Krajina dinar=10 dinara (1990)
Note: independence on December 19, 1991,
new currency on July, 1992, and remained at par with Yugoslav dinar
Succeeded by:
Macedonian denar
Location: Macedonia
Ratio: at par
Note: independence on September 8, 1991,
new currency on April 26, 1992
Succeeded by:
Slovenian tolar
Location: Slovenia
Ratio: at par
Note: independence on June 25, 1991,
new currency on October 8, 1991
Yugoslav dinar (1992–1993)
Preceded by:
1990 dinar
Ratio: 1 dinar (1992)=10 dinara (1990)
Currency of Federal Republic of Yugoslavia
July 1992 – September 30, 1993
Succeeded by:
1993 dinar
Ratio: 1 dinar (1993)=1,000,000 dinara (1992)
Yugoslav dinar (1993–1994)
Preceded by:
1992 dinar
Ratio: 1 dinar (1993)=1,000,000 dinara (1992)
Currency of Federal Republic of Yugoslavia
October 1, 1993 – December 31, 1993
Succeeded by:
1994 dinar
Ratio: 1 dinar (1994)=1,000,000,000 dinara (1993)
Yugoslav dinar (January 1994)
Preceded by:
1993 dinar
Ratio: 1 dinar (1994)=1,000,000,000 dinara (1993)
Currency of Federal Republic of Yugoslavia and Republika Srpska
January 1, 1994 – January 23, 1994
Succeeded by:
Novi dinar
Ratio: 1 Novi dinar=1 German mark=about 10~13 million dinara (1994)
Preceded by:
Republika Srpska 1993 dinar
Ratio: 1 dinar (1994)=1,000,000,000 dinara (1993)
Yugoslav novi dinar (1994–2003)
Preceded by:
1994 dinar
Ratio: 1 novi dinar=1 German mark=12,000,000 dinara (1994)
Currency of Serbia except Kosovo (as part of Federal Republic of Yugoslavia)
January 24, 1994 – July 2, 2003
Succeeded by:
Serbian dinar
Reason: name changed to Serbia and Montenegro (on February 4, 2003)
Ratio: at par
Currency of Montenegro (as part of Yugoslavia), Kosovo (as part of Serbia)
January 24, 1994 – 1999
Succeeded by:
German mark
Reason: political and economic reasons
Currency of Republika Srpska
January 24, 1994 – 1998
Succeeded by:
Bosnia and Herzegovina convertible mark
Reason: Dayton Agreement

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