Serbian dinar
Encyclopedia
The dinar is the currency
of Serbia
. An earlier currency also called dinar was used in Serbia between 1868 and 1918. The earliest use of the dinar date to 1214. Today's Serbian dinar is a continuation of the last Yugoslav dinar
. There are no plans to replace the Serbian dinar with the euro
.
The ISO 4217
code for the dinar is RSD, the three-digit identifier is 941, currency symbol is the same (RSD or РСД), while the unofficial local colloquialism din or дин is still in informal use.
The first mention of a "Serbian dinar" dates back to the reign of Stefan the First-Crowned of the Nemanjić
dynasty in 1214. Until to the fall of Despot
Stefan Lazarević
in 1459, most of the Serbian rulers minted silver dinar coins. First Serbian dinars, like many other south-European mints, 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.
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 Arabic
bara, silver).
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. After the last Ottoman garrisons were withdrawn in 1867, steps were taken to establish an independent national monetary system.
Faced with multiple currencies in circulation, Prince Mihailo Obrenović
ordered that a Serbian 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.
1 Serbian dinar = 0.0147 US dollars.
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.
is the central bank
of Serbia and as such its main responsibilities are the protection of price stability and maintenance of financial stability.
Core functions of the National Bank of Serbia
include determining and implementation of the monetary policy, as well as that of the dinar exchange rate policy, management of the foreign currency reserves, issue of banknotes and coins, and maintenance of efficient payment and financial systems.
. 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 (Milan of Gold)). In 1883, cupro-nickel 5, 10 and 20 para coins were introduced, followed by bronze 2 para in 1904.
coins were introduced in denominations of 50 para, 1 and 2 dinars, with 10 dinar coins following in 1943.
s currently in circulation are 1, 2, 5, 10, 20 dinara coins. All coins feature identical inscriptions in both scripts the Serbian language uses, Cyrillic and Latin.
, 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.
s of the Serbian National Bank were introduced in denominations of 100, 1000 and 5000 dinara. These were followed by 500 dinara in 2004, 50 dinara in 2005 and 10 and 20 dinara in 2006.
A competition for a new dinar design has been announced in December 2007.
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
of Serbia
Serbia
Serbia , officially the Republic of Serbia , is a landlocked country located at the crossroads of Central and Southeast Europe, covering the southern part of the Carpathian basin and the central part of the Balkans...
. An earlier currency also called dinar was used in Serbia between 1868 and 1918. The earliest use of the dinar date to 1214. Today's Serbian dinar is a continuation of the last Yugoslav dinar
Yugoslav dinar
The dinar was the currency of the three Yugoslav states: the Kingdom of Yugoslavia , the Socialist Federal Republic of Yugoslavia and the Federal Republic of Yugoslavia between 1918 and 2003. The dinar was subdivided into 100 para...
. There are no plans to replace the Serbian dinar with the euro
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
.
The ISO 4217
ISO 4217
ISO 4217 is a standard published by the International Standards Organization, which delineates currency designators, country codes , and references to minor units in three tables:* Table A.1 – Current currency & funds code list...
code for the dinar is RSD, the three-digit identifier is 941, currency symbol is the same (RSD or РСД), while the unofficial local colloquialism din or дин is still in informal use.
Medieval dinar
House of Nemanjic
The Nemanjić was the most important dynasty of Serbia in the Middle Ages, and one of the most important in Southeastern Europe. The royal house produced eleven Serbian monarchs between 1166 and 1371. It's progenitor was Stephen Nemanja, who descended from a cadet line of the Vukanović dynasty...
dynasty in 1214. Until to the fall of Despot
Despotes
Despot , was a senior Byzantine court title that was bestowed on the sons or sons-in-law of reigning emperors, and initially denoted the heir-apparent...
Stefan Lazarević
Stefan Lazarevic
Stefan Lazarević known also as Stevan the Tall was a Serbian Despot, ruler of the Serbian Despotate between 1389 and 1427. He was the son and heir to Prince Lazar, who died at the Battle of Kosovo against the Turks in 1389, and Princess Milica from the subordinate branch of the Nemanjić dynasty...
in 1459, most of the Serbian rulers minted silver dinar coins. First Serbian dinars, like many other south-European mints, 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.
First modern dinar
Following the OttomanOttoman Empire
The Ottoman EmpireIt was usually referred to as the "Ottoman Empire", the "Turkish Empire", the "Ottoman Caliphate" or more commonly "Turkey" by its contemporaries...
conquest, different foreign currencies were used up to the mid 19th century. The Ottomans operated coin mints
Mint (coin)
A mint is an industrial facility which manufactures coins for currency.The history of mints correlates closely with the history of coins. One difference is that the history of the mint is usually closely tied to the political situation of an era...
in Novo Brdo
Novo Brdo
Novo Brdo is a town and municipality in the Pristina district of eastern Kosovo. The population of the municipality is estimated at 6,720 people .-History:...
, Kučajna
Kučajna
Kučajna is a village in the municipality of Kučevo, Serbia. According to the 2002 census, the village has a population of 468 people....
and Belgrade
Belgrade
Belgrade is the capital and largest city of Serbia. It is located at the confluence of the Sava and Danube rivers, where the Pannonian Plain meets the Balkans. According to official results of Census 2011, the city has a population of 1,639,121. It is one of the 15 largest cities in Europe...
. The subdivision of the dinar, the para, is named after the Turkish silver coins of the same name (from the Arabic
Arabic language
Arabic is a name applied to the descendants of the Classical Arabic language of the 6th century AD, used most prominently in the Quran, the Islamic Holy Book...
bara, silver).
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. After the last Ottoman garrisons were withdrawn in 1867, steps were taken to establish an independent national monetary system.
Faced with multiple currencies in circulation, Prince Mihailo Obrenović
Mihailo Obrenovic III, Prince of Serbia
Mihailo Obrenović was Prince of Serbia from 1839–1842 and again from 1860–1868. His first reign ended when he was deposed in 1842 and his second when he was assassinated in 1868.-Early life and first reign:...
ordered that a Serbian 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
French franc
The franc was a currency of France. Along with the Spanish peseta, it was also a de facto currency used in Andorra . Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money...
. The Kingdom of Serbia
Kingdom of Serbia
The Kingdom of Serbia was created when Prince Milan Obrenović, ruler of the Principality of Serbia, was crowned King in 1882. The Principality of Serbia was ruled by the Karađorđevic dynasty from 1817 onwards . The Principality, suzerain to the Porte, had expelled all Ottoman troops by 1867, de...
also joined the Latin Monetary Union
Latin Monetary Union
The Latin Monetary Union was a 19th century attempt to unify several European currencies, at a time when most circulating coins were still made of gold and silver...
.
In 1920, the Serbian dinar was replaced at par by the Yugoslav dinar
Yugoslav dinar
The dinar was the currency of the three Yugoslav states: the Kingdom of Yugoslavia , the Socialist Federal Republic of Yugoslavia and the Federal Republic of Yugoslavia between 1918 and 2003. The dinar was subdivided into 100 para...
, with the Yugoslav krone
Yugoslav krone
The krone was a short-lived, provisional currency used in parts of the then newly formed Kingdom of Serbs, Croats, and Slovenes which had previously been part of the Austro-Hungarian Empire.-History:...
also circulating together.
1 Serbian dinar = 0.0147 US dollars.
Second modern dinar
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.Third modern dinar
The Serbian dinar replaced the Yugoslav dinarYugoslav dinar
The dinar was the currency of the three Yugoslav states: the Kingdom of Yugoslavia , the Socialist Federal Republic of Yugoslavia and the Federal Republic of Yugoslavia between 1918 and 2003. The dinar was subdivided into 100 para...
at par in 2003, when Yugoslavia
Yugoslavia
Yugoslavia refers to three political entities that existed successively on the western part of the Balkans during most of the 20th century....
was transformed into the State Union of Serbia and Montenegro
Serbia and Montenegro
Serbia and Montenegro was a country in southeastern Europe, formed from two former republics of the Socialist Federal Republic of Yugoslavia : Serbia and Montenegro. Following the breakup of Yugoslavia, it was established in 1992 as a federation called the Federal Republic of Yugoslavia...
. Montenegro
Montenegro
Montenegro Montenegrin: Crna Gora Црна Гора , meaning "Black Mountain") is a country located in Southeastern Europe. It has a coast on the Adriatic Sea to the south-west and is bordered by Croatia to the west, Bosnia and Herzegovina to the northwest, Serbia to the northeast and Albania to the...
had already adopted the Deutsche Mark and later the euro
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
when the mark was replaced by it.
National Bank of Serbia
The National Bank of SerbiaNational Bank of Serbia
National Bank of Serbia is the central bank of Serbia; its main responsibilities are the protection of price stability and maintenance of financial stability....
is the central bank
Central bank
A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries...
of Serbia and as such its main responsibilities are the protection of price stability and maintenance of financial stability.
Core functions of the National Bank of Serbia
National Bank of Serbia
National Bank of Serbia is the central bank of Serbia; its main responsibilities are the protection of price stability and maintenance of financial stability....
include determining and implementation of the monetary policy, as well as that of the dinar exchange rate policy, management of the foreign currency reserves, issue of banknotes and coins, and maintenance of efficient payment and financial systems.
Coins
First modern dinar
In 1868, bronze coins were introduced in denominations of 1, 5 and 10 para. The obverses featured the portrait of Prince Mihailo Obrenović IIIMihailo Obrenovic III, Prince of Serbia
Mihailo Obrenović was Prince of Serbia from 1839–1842 and again from 1860–1868. His first reign ended when he was deposed in 1842 and his second when he was assassinated in 1868.-Early life and first reign:...
. 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
French language
French is a Romance language spoken as a first language in France, the Romandy region in Switzerland, Wallonia and Brussels in Belgium, Monaco, the regions of Quebec and Acadia in Canada, and by various communities elsewhere. Second-language speakers of French are distributed throughout many parts...
Milan d'Or (Milan of Gold)). In 1883, cupro-nickel 5, 10 and 20 para coins were introduced, followed by bronze 2 para in 1904.
Second modern dinar
In 1942, zincZinc
Zinc , or spelter , is a metallic chemical element; it has the symbol Zn and atomic number 30. It is the first element in group 12 of the periodic table. Zinc is, in some respects, chemically similar to magnesium, because its ion is of similar size and its only common oxidation state is +2...
coins were introduced in denominations of 50 para, 1 and 2 dinars, with 10 dinar coins following in 1943.
Third modern dinar
CoinCoin
A coin is a piece of hard material that is standardized in weight, is produced in large quantities in order to facilitate trade, and primarily can be used as a legal tender token for commerce in the designated country, region, or territory....
s currently in circulation are 1, 2, 5, 10, 20 dinara coins. All coins feature identical inscriptions in both scripts the Serbian language uses, Cyrillic and Latin.
| 1 | 2 | 5 | |
|---|---|---|---|
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| Building of the National Bank of Serbia National Bank of Serbia National Bank of Serbia is the central bank of Serbia; its main responsibilities are the protection of price stability and maintenance of financial stability.... |
Gračanica monastery Gracanica monastery Gračanica is a Serbian Orthodox monastery located in Kosovo. It was founded by the Serbian king Stefan Milutin in 1321. Gračanica Monastery was declared Monument of Culture of Exceptional Importance in 1990, and it is protected by Republic of Serbia, and on 13 July 2006 it was placed on UNESCO's... |
Krušedol monastery Krušedol monastery The Krušedol monastery is a Serb Orthodox monastery on the Fruška Gora mountain in the northern Serbia, in the province of Vojvodina. The monastery is the legacy of the last Serbian despot family of Srem - Branković. It was built between 1509 and 1514... |
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| 10 | 20 | 20 | 20 |
 |
 |
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| Studenica monastery Studenica monastery The Studenica monastery is a 12th-century Serbian Orthodox monastery situated 39 km southwest of Kraljevo, in central Serbia. It is one of the largest and richest Serb Orthodox monasteries.... |
Temple of Saint Sava Temple of Saint Sava The Cathedral of Saint Sava or Saint Sava Temple in Vračar, Belgrade, is an Orthodox church, the largest in the Balkans, and one of the 10 largest church buildings in the world.. The church is dedicated to Saint Sava, founder of the Serbian Orthodox Church and an important figure in medieval Serbia... |
Nikola Tesla Nikola Tesla Nikola Tesla was a Serbian-American inventor, mechanical engineer, and electrical engineer... |
Ivo Andrić Ivo Andric Ivan "Ivo" Andrić was a Yugoslav novelist, short story writer, and the 1961 winner of the Nobel Prize in Literature. His writings dealt mainly with life in his native Bosnia under the Ottoman Empire... * |
First modern dinar
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 IWorld War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...
, 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
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
In 2003, banknoteBanknote
A banknote is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and in many jurisdictions is legal tender. In addition to coins, banknotes make up the cash or bearer forms of all modern fiat money...
s of the Serbian National Bank were introduced in denominations of 100, 1000 and 5000 dinara. These were followed by 500 dinara in 2004, 50 dinara in 2005 and 10 and 20 dinara in 2006.
| Obverse | Reverse | Value | Dimensions | Description |
|---|---|---|---|---|
 |
 |
10 dinara | 131 x 62 mm | Portrait of Vuk Stefanović Karadžić Vuk Stefanovic Karadžic Vuk Stefanović Karadžić was a Serbian philolog and linguist, the major reformer of the Serbian language, and deserves, perhaps, for his collections of songs, fairy tales, and riddles to be called the father of the study of Serbian folklore. He was the author of the first Serbian dictionary... ; members of the First Prague Slavic Congress, 1848 Prague Slavic Congress, 1848 The Prague Slavic Congress of 1848 took place in Prague between June 2 and June 12, 1848. It was one of several times that voices from all Slav populations of Central Europe were heard in one place... and vignette of the letters Vuk introduced. Banknote was originally released in 2000 in predominantly ochre-yellow colour with brown and green tones. It is gradually replaced with slightly lighter 2006 issue. |
 |
 |
20 dinara | 135 x 64 mm | Portrait of Petar II Petrović Njegoš; 2006 edition features his figure on the back, instead of the statue from the Mausoleum on Mount Lovćen Mount Lovcen Lovćen is a mountain and national park in southwestern Montenegro.The Mount Lovćen rises from the borders of the Adriatic basin closing the long ang twisting bays of Boka Kotorska and making the hinterland to the coastal town of Kotor... . Banknote was originally released in 2000 in predominantly green colour with ochre-yellow, and with brown and yellow tones, and it is somewhat darker than the National Bank of Serbia issue. |
 |
 |
50 dinara | 139 x 66 mm | Portrait of Stevan Stojanović Mokranjac Stevan Stojanovic Mokranjac Stevan Stojanović Mokranjac was a Serbian composer and music educator. His work was essential in bringing the spirit of Valach Serbian unwritten folk poems into organized art.-Biography:He was born in Negotin... ; figure of Stevan Stojanović Mokranjac, a motif of Miroslav Gospels illumination scores. Banknote was first released in 2000 in predominantly light violet colour, with magenta and yellow tones. It was slightly redesigned in 2005. |
 |
 |
100 dinara | 143 x 68 mm | Portrait of Nikola Tesla Nikola Tesla Nikola Tesla was a Serbian-American inventor, mechanical engineer, and electrical engineer... ; a detail from the Tesla electro-magnetic induction engine. Banknote was first released in 2000 in predominantly light and marine blue, with greenish and ochre-yellow tones. It was slightly redesigned in 2003, 2004 and 2006. |
 |
 |
200 dinara | 147 x 70 mm | Portrait of Nadežda Petrović Nadežda Petrovic Nadežda Petrović is considered the most important Serbian female painter from the late 19th and early 20th century... ; silhouette of the Gračanica Monastery Gracanica monastery Gračanica is a Serbian Orthodox monastery located in Kosovo. It was founded by the Serbian king Stefan Milutin in 1321. Gračanica Monastery was declared Monument of Culture of Exceptional Importance in 1990, and it is protected by Republic of Serbia, and on 13 July 2006 it was placed on UNESCO's... . Banknote was first released in 2001 in predominantly amber, red, and brown colours and grey-blue tones. It was slightly redesigned in 2005. |
 |
 |
500 dinara | 147 x 70 mm | Portrait of Jovan Cvijić Jovan Cvijic Jovan Cvijić was a Serbian geographer, president of the Serbian Royal Academy of Sciences, and rector of the University of Belgrade. A world-renowned scientist, Cvijić is considered the founder of geography in Serbia.-Early life and family:Jovan Cvijić was born on October 11 Jovan Cvijić... ; stylized ethnic motifs. Banknote was released in 2004 with blue-green tones and in greenish and yellowish colours. Slightly redesigned (with Coat of arms of Serbia instead of Emblem of National Bank) released on June 5, 2007. |
 |
 |
1000 dinara | 151 x 72 mm | Portrait of Đorđe Vajfert Đorđe Vajfert Đorđe Vajfert was a Serbian industrialist of German descent, Governor of the National Bank of Serbia and later Yugoslavia. In addition, he is considered the founder of the modern mining sector in Serbia.-Biography:... , 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 National Bank of Serbia National Bank of Serbia is the central bank of Serbia; its main responsibilities are the protection of price stability and maintenance of financial stability.... . Banknote was released in 2001 in predominantly bright red colour, with yellowish and grey-blue tones. It was slightly redesigned in 2003 and 2006. |
| 5000 dinara | 159 x 76 mm | Portrait of Slobodan Jovanović Slobodan Jovanovic Slobodan Jovanović was one of Serbia's most prolific jurists, historians, sociologists, journalists and literary critics. He distinguished himself with a characteristically clear and sharp writing style later called the "Belgrade style"... and an ornamental detail from the building of the Serbian Academy of Sciences and Arts Serbian Academy of Sciences and Arts The Serbian Academy of Sciences and Arts is the most prominent academic institution in Serbia today... ; silhouette of the National Parliament. Banknote was released in 2002 in predominantly pupple colour, with green and grey-yellow tones. It was slightly redesigned in 2003. |
A competition for a new dinar design has been announced in December 2007.