The Serbian dinar is the official currency of Serbia, one of the two
republics that comprise Serbia-Montenegro. The autonomous
province Kosovo and Metohia and Montenegro have both been using the euro for several years as of 2004,
prior to which they shared the Yugoslav dinar with Serbia. The international currency code ISO
4217 for the Serbian dinar is CSD, and the three-digit identifier is 891. A dinar equals 100 para. As of March 24, 2005 the United States dollar is exchanged for 62.0313 Serbian dinars, and
the Euro for 80.9570 dinars.
Coins currently produced are 50 para; 1, 2, 5, 10, 20 dinar coins [4] (http://www.nbs.yu/english/7_4.htm).
Banknotes currently produced are 10, 20, 50, 100, 200, 500, 1000, 5000 dinar
[5] (http://www.nbs.yu/english/7_3.htm)
The illustrations feature the 2003 Nikola Tesla banknotes
History
The first mention of a "Serbian dinar" dates back to the reign of Stefan the First-Crowned Nemanjic in 1214. Up to the fall of Despot Stefan
Lazarevic in 1459, most Serbian rulers minted dinars. The coin was an important symbol
of Serbian statehood in the Middle Ages. Medieval money was struck
exclusively in silver due to restrictions on gold, characteristic in Medieval Europe.
Following the Ottoman conquest, different foreign currencies were
used up to the mid 19th century. The Ottomans operated several coin mints throughout Serbia in
Novo Brdo, Kucajna and Belgrade. Today's hundredth of a dinar in Serbia is the para, named after the last
Turkish circulated silver coins (from the Arabic bara,
silver).
The 19th century rules of Karađorđe and Prince Miloš
Obrenović also saw circulation of many different currencies from all over Europe, 43 different kinds: 10 gold, 28 silver
and 5 copper ones. Following the liberation from Turkish domination, steps were taken towards the establishment of an independent
monetary system.
Faced with multiple currencies in circulation, Prince Mihailo Obrenović ordered that a Serbian national currency be minted. The new coins of
copper alloy were denominated in 1, 5 and 10 paras. The obverse sides featured the portrait of the prince and the year of issue,
1868. The silver dinar was struck only in 1875. It
featured Prince Milan Obrenović, in denominations of 50 paras, 1
and 2 dinars. The first gold coins were issued in 1879, with a value of 20 dinars. King
Milan's coronation in 1882 called for the issue of gold coins in denominations of 10 and 20 dinars, popularly called
milandor (French Milan d'Or (Milan of Gold)).
National Bank of Serbia
The National Bank of Serbia is the official bank of Serbia. It has had many governors since 1884. See List of governors of national banks of Serbia and
Yugoslavia.
Hyperinflation
Hyperinflation occurred in Serbia in 1993 due to an economic embargo. The largest banknote in circulation had a nominal value of 500 billion dinars.
External links
|
