Serbian dinar

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Serbian dinar
Cрпски динар (Serbian)
100RSD front.jpg 1dinar.jpg
100 dinar banknote 1 dinar coin
ISO 4217 code RSD
Central bank National Bank of Serbia
 Website www.nbs.rs
User(s) Serbia Serbia
Inflation 2.2%
 Source (December 2013)[1]
Subunit
 1/100 para
Symbol RSD or РСД (unofficial: din. or дин.)
Plural The language(s) of this currency belong(s) to the Slavic languages. There is more than one way to construct plural forms.
Coins
 Freq. used 1, 2, 5, 10, 20
Banknotes
 Freq. used 10, 20, 50, 100, 200, 500, 1000 [2]
 Rarely used 2000, 5000
Printer Institute for Manufacturing Banknotes and Coins - Topčider
 Website www.zin.rs/en
Mint Institute for Manufacturing Banknotes and Coins - Topčider
 Website www.zin.rs/en

The dinar (genitive plural: dinara, Serbian: динар / dinar, динара / dinara, pronounced [dînaːr]) is the currency of Serbia. The earliest use of the dinar dates back to 1214.

Medieval dinar[edit]

A 13th century dinar-coin

The first mention of a "Serbian dinar" dates back to the reign of Stefan Nemanjić in 1214. Until the fall of Despot Stjepan Tomašević in 1459, most of the Serbian rulers minted silver dinar coins. The first Serbian dinars, like many other south-European coins, replicated Venetian grosso, including characters in Latin (the word 'Dux' replaced with the word 'Rex'). For many years it was one of the main export articles of medieval Serbia, considering the relative abundance of silver coming from Serbian mines. Venetians were weary of this, and Dante Alighieri went so far as to put the Serbian king of his time, Stephen Uroš II Milutin of Serbia, in Hell as forgerer (along with his Portuguese and Norwegian counterparts):

   „E quel di Portogallo e di Norvegia
   lì si conosceranno, e quel di Rascia
   che male ha visto il conio di Vinegia.“

First modern dinar (1868-1920)[edit]

Following the Ottoman conquest, different foreign currencies were used up to the mid 19th century. The Ottomans operated coin mints in Novo Brdo, Kučajna and Belgrade. The subdivision of the dinar, the para, is named after the Turkish silver coins of the same name (from the Persian پاره pāra, "money, coin"). After the Principality of Serbia was formally established (1817) there were many different foreign coins in circulation. Eventually, Prince Miloš Obrenović decided to introduce some order by establishing exchange rates based on the groat (Serbian грош/groš, French and English piastre, Turkish kuruş) as money of account. In 1819 Miloš published a table rating 43 different foreign coins: 10 gold, 28 silver, and 5 copper.[3]

After the last Ottoman garrisons were withdrawn in 1867, Serbia was faced with multiple currencies in circulation. Thus, prince Mihailo Obrenović ordered a national currency be minted. The first bronze coins were introduced in 1868, followed by silver in 1875 and gold in 1879. The first banknotes were issued in 1876. Between 1873 and 1894, the dinar was pegged at par to the French franc. The Kingdom of Serbia also joined the Latin Monetary Union.

In 1920, the Serbian dinar was replaced at par by the Yugoslav dinar, with the Yugoslav krone also circulating together.

Coins[edit]

In 1868, bronze coins were introduced in denominations of 1, 5 and 10 para. The obverses featured the portrait of Prince Mihailo Obrenović III. Silver coins were introduced in 1875, in denominations of 50 para, 1 and 2 dinara, followed by 5 dinara in 1879. The first gold coins were also issued in 1879, for 20 dinara, with 10 dinara introduced in 1882. The gold coins issued for the coronation of Milan I coronation in 1882 were popularly called milandor (French Milan d'Or). In 1883, cupro-nickel 5, 10 and 20 para coins were introduced, followed by bronze 2 para in 1904.

Banknotes[edit]

In 1876, state notes were introduced in denominations of 1, 5, 10, 50 and 100 dinara. These were followed by notes of the Chartered National Bank from 1884, with notes for 10 dinara backed by silver and gold notes for 50 and 100 dinara. Gold notes for 20 dinara and silver notes for 100 dinar were introduced in 1905. During World War I, silver notes for 50 and 5 dinar were introduced in 1914 and 1916, respectively. In 1915, stamps were authorized for circulation as currency in denominations of 5, 10, 15, 20, 25, 30 and 50 para.

Second modern dinar (1941-1944)[edit]

In 1941, the Yugoslav dinar was replaced, at par, by a second Serbian dinar for use in the German occupied Serbia. The dinar was pegged to the German reichsmark at a rate of 250 dinars = 1 reichsmark. This dinar circulated until 1944, when the Yugoslav dinar was reintroduced by the Yugoslav Partisans, replacing the Serbian dinar at a rate of 1 Yugoslav dinar = 20 Serbian dinars.

Coins[edit]

In 1942, zinc coins were introduced in denominations of 50 para, 1 and 2 dinars, with 10 dinar coins following in 1943.

Banknotes[edit]

In May 1941, the Serbian National Bank introduced notes for 10, 20, 50, 100, 500 and 1000 dinara. The 100 and 1000 dinara notes were overprints, whilst the 10 dinara design was taken from an earlier Yugoslav note. Further notes were introduced in 1942 and 1943 without any new denominations being introduced.

Third modern dinar (2003-present)[edit]

The Serbian dinar replaced the Yugoslav dinar at par in 2003, when Yugoslavia was transformed into the State Union of Serbia and Montenegro. Montenegro had already adopted the Deutsche Mark and later the euro when the mark was replaced by it.

Coins[edit]

Coins currently in circulation are 1, 2, 5, 10, 20 dinara coins. All coins feature identical inscriptions in Serbian, using the Cyrillic and Latin script. The 10 and 20 dinara coins are uncommon in circulation, instead banknotes of the same value are used.

Coins of the Serbian dinar (2003–present)[4]
Image Value Technical parameters Description Date of
Diameter Mass Composition Edge Obverse Reverse minting issue withdrawal lapse
1 dinar 20 mm 4,34g 70% Cu, 12% Ni, 18% Zn reeded Denomination, relief of the building of the National Bank of Serbia, year of minting Issuer’s symbols, logo of the National Bank of Serbia 2003,2004 2 July 2003 Current
1dinar.jpg 1 dinar 20 mm 4,26g 75% Cu, 0,5% Ni, 24,5% Zn reeded Coat of arms of Serbia, issuer’s symbols 2005-2009 2 July 2005
1 dinar* 4,2g Multilayer; low carbon steel core coated with a layer of copper on both sides/electroplated with a layer of copper and a layer of brass 2009~present 20 March 2009
2 dinara 22 mm 5,24g 70% Cu, 12% Ni, 18% Zn reeded Gračanica monastery Issuer’s symbols, logo of the National Bank of Serbia 2003 2 July 2003
2 dinara 22 mm 5,15g 75% Cu, 0,5% Ni, 24,5% Zn reeded Coat of arms of Serbia, issuer’s symbols 2006~2010 27 December 2006
2 dinara* 5,05g Multilayer; low carbon steel core coated with a layer of copper on both sides/electroplated with a layer of copper and a layer of brass 2009~present 20 March 2009
5 dinara 24 mm 6,23g 70% Cu, 12% Ni, 18% Zn reeded Krušedol monastery Issuer’s symbols, logo of the National Bank of Serbia 2003 2 July 2003
5 dinara 24 mm 6,13g 75% Cu, 0,5% Ni, 24,5% Zn reeded Coat of arms of Serbia, issuer’s symbols 2005~2012 2 July 2005
5 dinara* 5,78g Multilayer; low carbon steel core coated with a layer of copper on both sides/electroplated with a layer of copper and a layer of brass 2013~present 5 July 2013
10dinara.jpg 10 dinara 26 mm 7,77 g 70% Cu, 12% Ni, 18% Zn reeded Studenica monastery Logo of the National Bank of Serbia 2003 2 July 2003 current
10 dinara Serbian coat of arms 2005~present 2 July 2005
| 20dinara.jpg 20 dinara 28 mm 9,00 g reeded Saint Sava Cathedral Logo of the National Bank of Serbia 2003 2 July 2003
These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table.
  • In 2011 the Serbian Coat of arms was slightly modified. In 2013 the metal content was slightly altered.[5]

Banknotes[edit]

In 2003, banknotes of the (re-established) National Bank of Serbia were introduced in denominations of 100, 1000 and 5000 dinara. These were followed by 500 dinara in 2004, 50 dinara in 2005, 10 and 20 dinara in 2006 and 2000 dinara in 2011.

Denomination Image Main colour Obverse Reverse Remark
10 dinara
131 x 62 mm
10 dinara obverse 10 dinara reverse Ochre-yellow Vuk Stefanović Karadžić (1787 – 1864), philologist and linguist Member of the First Prague Slavic Congress, 1848 and vignette of the letters Vuk introduced. Replaced with a slightly lighter 2006 issue. A revised issue entered circulation in 2011.
20 dinara
135 x 64 mm
20 dinara obverse 20 dinara reverse Green Petar II Petrović-Njegoš (1813 – 1851), metropolitan, statesman, philosopher and poet His figure on the back, instead of the statue from the Mausoleum on Mount Lovćen. Replaced with a slightly darker 2006 issue. A revised issue entered circulation in 2011.
50 dinara
139 x 66 mm
50 dinara obverse 50 dinara reverse Violet Stevan Stojanović Mokranjac (1856 – 1914), composer and music educator Figure of Stevan Stojanović Mokranjac, a motif of Miroslav Gospels illumination scores. Redesigned in 2005. A revised issue entered circulation in 2011.
100 dinara
143 x 68 mm
100 dinara obverse 100 dinara reverse Blue Nikola Tesla (1856 – 1943), inventor A detail from the Tesla electro-magnetic induction engine. Redesigned in 2003, 2004 and 2006. A revised issue entered circulation in 2012.
200 dinara
147 x 70 mm
200 dinara obverse 200 dinara reverse Amber Nadežda Petrović (1873 – 1915), painter Silhouette of the Gračanica Monastery. Redesigned in 2005. A revised issue entered circulation in 2011.
500 dinara
147 x 70 mm
500 dinara obverse 500 dinara reverse Green/yellow Jovan Cvijić (1865 – 1927), geographer Stylized ethnic motifs. Redesigned in 2007. A revised issue entered circulation in 2011.
1000 dinara
151 x 72 mm
1000 dinara obverse 1000 dinara reverse Red Đorđe Vajfert (1850 – 1937), industrialist An outline of Weifert's beer brewery, hologram image of St. George slaying a dragon; details from the interior of the main building of the National Bank of Serbia. Redesigned in 2003 and 2006. A revised issue entered circulation in 2011.
2000 dinara
155 x 74 mm
2000 dinara obverse 2000 dinara reverse Grey Milutin Milanković (1879 – 1958), mathematician, astronomer and geophysicist Milanković's figures while at the desk (below: a graphical representation of his calculations of snow boundary movement for the past Quaternary) and from his student days in Vienna (behind: a stylised Sun disk drawing fragment and an illustration of Milanković's work). Entered circulation in 2011.[2]
5000 dinara
159 x 76 mm
5000 dinara obverse 5000 dinara reverse Purple Slobodan Jovanović (1869 – 1958), jurist, historian and politician An ornamental detail from the building of the Serbian Academy of Sciences and Arts; silhouette of the National Assembly. Redesigned in 2010.[6]

Exchange rates[edit]

Current RSD exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD
From XE.com: AUD CAD CHF EUR GBP HKD JPY USD
From OANDA.com: AUD CAD CHF EUR GBP HKD JPY USD
From Investing.com: AUD CAD CHF EUR GBP HKD JPY USD
From fxtop.com: AUD CAD CHF EUR GBP HKD JPY USD

See also[edit]

References[edit]

  1. ^ http://www.danas.rs/danasrs/ekonomija/inflacija_u_2013_22_odsto.4.html?news_id=274370
  2. ^ a b New 2000 dinara and revised 1000 and 500 dinara banknotes in circulation, National Bank of Serbia.
  3. ^ Wieser, F. (1965). Contributions to the monetary history of Serbia, Montenegro and Yugoslavia. London: Spink & Son, Ltd. p. 3. 
  4. ^ National Bank of Serbia. Available at:http://www.nbs.rs/internet/english/75/index.html
  5. ^ National Bank of Serbia. Available at:http://www.nbs.rs/internet/english/75/75_1/k-1.html
  6. ^ Serbia new 5,000-dinar note confirmed BanknoteNews.com. Retrieved 2011-12-23

External links[edit]

Currencies of Former Yugoslavia
territory 1918 1920 1941 1944 1992 1994 1995 1998 1999 2002 2003 2007 territory
 Macedonia Serbian dinar
(Kingdom of Serbia)
Yugoslav dinar
(Kingdom of Serbs, Croats and Slovenes 1920-1929,
Kingdom of Yugoslavia 1929-1941)
Bulgarian lev Yugoslav dinar
(DF Yugoslavia 1944–1946,
FPR Yugoslavia 1946–1963,
SFR Yugoslavia 1963-1992,
FR Yugoslavia 1992-1999,
Serbia 1999-2003,
Republika Srpska 1994-1998)
Macedonian denar Macedonia
 Serbia   Serbian dinar (Occupied Serbia)     Serbian dinar Serbia
Kosovo Albanian lek
(Kosovo and Western Macedonia)
German mark Euro   Kosovo
 Montenegro Montenegrin perper
(Kingdom of Montenegro)
Italian lira
(Occupied Montenegro)
Montenegro
 Slovenia Yugoslav krone
(State of Slovenes, Croats and Serbs)
German Reichsmark Slovenian tolar Slovenia
 Croatia   Independent State of Croatia kuna Croatian dinar   Croatian kuna Croatia
Republic of Serbian Krajina Krajina dinar Republic of Serbian Krajina
 Bosnia and Herzegovina Federation of Bosnia and Herzegovina Bosnia and Herzegovina dinar
(Republic of Bosnia and Herzegovina)
Bosnia and Herzegovina convertible mark Federation of Bosnia and Herzegovina
Republika Srpska Republika Srpska dinar Yugoslav dinar Republika Srpska