Macedonian denar

"Denar" redirects here. For the similarly spelled currency of other countries, see Dinar.

Macedonian denar
Македонски денар Makedonski denar
ISO 4217 code	MKD, the three-digit identifier is 807
Central bank	National Bank of the Republic of Macedonia
Website	www.nbrm.mk
User(s)	Republic of Macedonia
Inflation	3.9%
Source	NBRM Inflation data, 2011
Subunit
1/100	deni
Symbol	ден
Plural	denari
Coins	50 deni, 1, 2, 5, 10, 50 denari
Banknotes	10, 50, 100, 500, 1000, 5000 denari

The denar (plural: denari, Macedonian: денар and денари, denar and denari, ISO 4217 code: MKD, the three-digit identifier is 807) is the currency of the Republic of Macedonia. It is subdivided into 100 deni (Macedonian: дени). The name denar comes from the name of the ancient Roman monetary unit, the denarius. The currency symbol is ден, the first three letters of its name. The Macedonian denar was introduced on 26 April 1992.

History

The first denar was introduced on April 26, 1992, and replaced the 1990 version of the Yugoslav dinar at par. On May 5, 1993, the currency was reformed, with one new denar (MKD) being equal to 100 old denars (MKN).

Coins

No coins were issued for the first denar. In 1993, coins for the second denar were introduced in denominations of 50 deni (which is no longer being made), 1, 2, and 5 denari. 10 and 50 denari coins have been recently introduced.

Banknotes

First denar

Notes were introduced on 27 April 1992 in denominations of 10, 25, 50, 100, 500, 1000, 5000 and 10,000 denari, although preparations for producing the first Macedonian banknotes began well before Macedonia declared its independence. The difficulties of creating a new currency in secret is reflected in the notes themselves. The paper, which was purchased from Slovenia, proved to be of poor quality and lacking in adequate security. Although denominated in denari, the name of the currency does not appear on the notes because they were printed prior to the adoption of the Law on the Monetary Unit. Likewise, the issuer appears (in Macedonian) as the National Bank of Macedonia, not its successor, the National Bank of the Republic of Macedonia.

The notes were produced by the printing firm “11 October” in Prilep, and were designed by graphic designers Sasho Josifovski and Borce Nikolovski, as well as the artist Borce Todorovski. The six lowest denominations are identical with the exception of their colors. They all feature a man and two women picking tobacco leaves on the front, with the back devoted to the Ilinden monument in Kruševo, which, according to the bank, “expresses the eternal fight of Macedonian citizens for life in peace and freedom.”

Second denar

In 1993, the new denar was issued in denominations of 10, 20, 50, 100 and 500. The 20 denari was only issued in this first series of notes. In 1996, 1000 and 5000 denari notes were added.

Banknotes and coins

Banknotes

1992 series
Obverse	Reverse	Value	Colour	Obverse	Reverse
		10 denars	blue	Monument Makedonium in Kruševo	Women gathering tobacco
		25 denars	red	Monument Makedonium in Kruševo	Women gathering tobacco
		50 denars	brown	Monument Makedonium in Kruševo	Women gathering tobacco
		100 denars	dark blue	Monument Makedonium in Kruševo	Women gathering tobacco
		500 denars	green	Monument Makedonium in Kruševo	Women gathering tobacco
		1000 denars	Purple	Monument Makedonium in Kruševo	Women gathering tobacco
		5000 denars	red-brown	Girl in front of a computer	Monument Makedonium in Kruševo
		10000 denars	red-brown	Men dancing and the monument Makedonium in Kruševo	Panorama of the church St. Sofia, Ohrid
1993 series (Issued 10.05.1993)
Obverse	Reverse	Value	Colour	Obverse	Reverse
		10 denars	blue	The monument Makedonium in Kruševo	Panorama of Kruševo
		20 denars	brown-dark red	Daut-Pasha Bath in Skopje	Clock tower in Skopje
		50 denars	red	The Monastery of St. Pantelejmon in Skopje	The old National Bank of Macedonia building in Skopje
		100 denars	brown	The church of St. Sofia in Ohrid	National Museum building in Ohrid
		500 denars	brown-dark green	Monastery of St. Jovan Caneo in Ohrid	Samuil's Fortress in Ohrid
1996 series
Obverse	Reverse	Value	Colour	Obverse	Reverse
		10 denars	lilac	The Egyptian goddess Isis (Izida, 2nd century BC), Ohrid; gold earring (4th century BC), v. Beranci, Bitola.	Mosaic in Stobi (4th-5th century).
		50 denars	blue	Fresco in the church St. Pantelejmon, Nerezi; Follis coin.	Arhangel Gavril in the church St. Ǵorǵi, Kurbinovo.
		100 denars	lilac-brown	Skopje from engraving by Jacobus Harevin	View of Skopje from an Albanian house
		500 denars	red-brown	Gold mask, v. Trebeništa, Ohrid (6th century BC)	Flower of poppy
		1000 denars	brown	Madonna Episkepis, icon from the church of St. Vrači, Ohrid, 14th century	Gregory's gallery (14th century), church of St. Sofia, Ohrid
		5000 denars	red-brown-green	Bronze figure of Maenad (6th century BC), Tetovo.	Dog and tree, mosaic, Heraclea Lyncestis (5th-6th century AD), Bitola.
Upgrade of the 1996 series
Obverse	Reverse	Value	Colour	Obverse	Reverse
		500 denars	red-brown	Gold mask, v. Trebeništa, Ohrid (6th century BC)	Flower of poppy.
		1000 denars	brown	Madonna Episkepis, icon from the church St. Vrači, Ohrid, 14th century	Gregory's gallery (14th century), church St. Sofia, Ohrid

Coins

1993 series
Image	Value	Features	Depiction
	50 deni	Issue: 1993,Diam. 21,5 mm; Weight 4.10g, Metal: CuZn15, Mint: Suvenir, Samokov, Period of circulation:10.05.1993	Ob. 50 ДЕНИ in the lower central field Stylized horizont with a 16-ray sun. Rev. РЕПУБЛИКА МАКЕДОНИЈА, circular; 1993 in the lower central field. Flying seagull.
	1 denar	Issue: 1993 (1997, 2001,2006), Diam. 23,8 mm;Weight 5.10g, Metal: CuNi3Zn17, Mint: Suvenir, Samokov, Period of circulation:10.05.1993	Ob. 1 ДЕНАР in the lower central field Stylized horizont with a 16-ray sun. Rev. РЕПУБЛИКА МАКЕДОНИЈА, circular; 1993 (1997, 2001) in the lower central field. Šarplaninec shepherd dog.
	2 denars	Issue: 1993 (2001,2006), Diam. 25,5 мм; Weight 6.20 g, Metal: CuNi3Zn17, Mint: Suvenir, Samokov, Period of circulation:10.05.1993	Ob. 2 ДЕНАРИ in the lower central field Stylized horizont with a 16-ray sun. Rev. РЕПУБЛИКА МАКЕДОНИЈА, circular; 1993 (2001) in the lower central field. Ohrid trout (Salmo letnica).
	5 denars	Issue: 1993 (2001,2006,2008), Diam. 27,5 мм; Weight 7.20 g, Metal: CuNi3Zn17, Mint: Suvenir, Samokov, Period of circulation:10.05.1993	Ob. 5 ДЕНАРИ in the lower central field Stylized horizont with a 16-ray sun. Rev. РЕПУБЛИКА МАКЕДОНИЈА, circular; 1993 (2001) in the lower central field. Lynx (Felis Lyinx).
	10 denars	Issue 2008, Diam. 24,5 mm; Weight 6,6 g, Metal: Cu70Ni12Zn18, Period of circulation: 15.11.2008	Ob.10 ДЕНАРИ in the lower central field. Stylized horizon with a 16-ray sun. Rev. REPUBLIC OF MACEDONIA, circular; 2008 in the lower central field. Peacock, floor mosaic from Stobi from the 6th century, detail presented on the banknote of 10 Denars.
	50 denars	Issue 2008, Diam. 26,5 mm; Weight 7,7 g, Metal: Cu62Ni18Zn20, Period of circulation 15.11.2008	Ob. 50 ДЕНАРИ in the lower central field. Stylized horizon with a 16-ray sun. Rev. REPUBLIC OF MACEDONIA, circular; 2008 in the lower central field. Archangel Gabriel, fresco from the church of St. Ghiorghi in Kurbinovo - 12th century, detail presented on the banknote of 50 Denars.

Souvenir currency

As of 2002, Vevčani, a village in the south-western region of Macedonia and self-styled "independent Republic", was issuing its own money, the Ličnici, as a souvenir. The money is clearly labelled as "specimen" and was never intended to be used as official, legal currency.

Current MKD exchange rates
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See also

• Economy of the Republic of Macedonia
• Denarius
• Commemorative coins of the Republic of Macedonia

External links

• Ministry of Finance website

Old denar

Preceded by: Yugoslav 1990 dinar Reason: independence (on September 8, 1991) Ratio: at par

Currency of the Republic of Macedonia April 26, 1992 – May 5, 1993

Succeeded by: Macedonian new denar Reason: inflation Ratio: 1 new denar = 100 old denari

New denar

Preceded by: Macedonian old denar Reason: inflation Ratio: 1 new denar = 100 old denari

Currency of the Republic of Macedonia 1993 –

Succeeded by: Current