Serbian dinar

Serbian dinar
Cрпски динар / Srpski dinar (Serbian)

1 dinar coin
ISO 4217
Code RSD
Denominations
Subunit
 1/100 пара / para (defunct)
Plural The language(s) of this currency belong(s) to the Slavic languages. There is more than one way to construct plural forms.
Banknotes
 Freq. used 10, 20, 50, 100, 200, 500, 1000, 2000 [1]
 Rarely used 5000
Coins
 Freq. used 1, 2, 5, 10, 20
Demographics
User(s)  Serbia
Issuance
Central bank National Bank of Serbia
 Website www.nbs.rs
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
Valuation
Inflation 1.4%
 Source (October 2015)

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

Medieval dinar

Dinar of King Stefan Dragutin.

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)

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.[2]

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

In 1868, bronze coins were introduced in denominations of 1, 5 and 10 paras. The obverses featured the portrait of Prince Mihailo Obrenović III. Silver coins were introduced in 1875, in denominations of 50 paras, 1 and 2 dinars, followed by 5 dinars in 1879. The first gold coins were also issued in 1879, for 20 dinars, with 10 dinars 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 paras coins in 1904.

Banknotes

In 1876, state notes were introduced in denominations of 1, 5, 10, 50 and 100 dinars. These were followed by notes of the Chartered National Bank from 1884, with notes for 10 dinars backed by silver and gold notes for 50 and 100 dinars. Gold notes for 20 dinars and silver notes for 100 dinars were introduced in 1905. During World War I, silver notes for 50 and 5 dinars 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 paras.

Second modern dinar (1941–1944)

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

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

Banknotes

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

Third modern dinar (2003–present)

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

Coins

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

Coins of the Serbian dinar (2003–present)[3]
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
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 dinars 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 dinars 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 dinars* 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 dinars 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 dinars 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 dinars* 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
10 dinars 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 dinars Serbian coat of arms 2005~present 2 July 2005
| 20 dinars 28 mm 9.00 g reeded Saint Sava Cathedral Logo of the National Bank of Serbia 2003 2 July 2003
| 20 dinars 28 mm 9.00 g reeded Portrait of Nikola Tesla Serbian coat of arms 2006 30 July 2006
| 20 dinars 28 mm 9.00 g reeded Portrait of Dositej Obradović Serbian coat of arms 2007 10 December 2007
| 20 dinars 28 mm 9.00 g reeded Portrait of Milutin Milanković Serbian coat of arms 2009 26 June 2009
| 20 dinars 28 mm 9.00 g reeded Portrait of Đorđe Vajfert Serbian coat of arms 2010 16 June 2010
| 20 dinars 28 mm 9.00 g reeded Portrait of Ivo Andrić Serbian coat of arms 2011 20 May 2011
| 20 dinars 28 mm 9.00 g reeded Portrait of Mihajlo Pupin Serbian coat of arms 2012 8 June 2012
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.[4]

Banknotes

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

Denomination Image Main colour Obverse Reverse Remark
10 dinars
131 x 62 mm
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 dinars
135 x 64 mm
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 dinars
139 x 66 mm
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 dinars
143 x 68 mm
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 dinars
147 x 70 mm
Pink Nadežda Petrović (1873 – 1915), painter Silhouette of the Gračanica Monastery. Redesigned in 2005. A revised issue entered circulation in 2011.
500 dinars
147 x 70 mm
Cyan Jovan Cvijić (1865 – 1927), geographer Stylized ethnic motifs. Redesigned in 2007. A revised issue entered circulation in 2011.
1000 dinars
151 x 72 mm
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 dinars
155 x 74 mm
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.[1]
5000 dinars
159 x 76 mm
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. A revised issue entered circulation in 2016.[5]

Exchange rates

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

See also

References

  1. 1 2 New 2000 dinars and revised 1000 and 500 dinars banknotes in circulation, National Bank of Serbia.
  2. ↑ Wieser, F. (1965). Contributions to the monetary history of Serbia, Montenegro and Yugoslavia. London: Spink & Son, Ltd. p. 3.
  3. ↑ National Bank of Serbia. Available at:http://www.nbs.rs/internet/english/75/index.html
  4. ↑ National Bank of Serbia. Available at:http://www.nbs.rs/internet/english/75/75_1/k-1.html
  5. ↑ Serbia new 5,000 dinar note confirmed BanknoteNews.com. Retrieved 2011-12-23
Wikimedia Commons has media related to Serbian dinar.
Currencies of Former Yugoslavia
territory1918 1920 1941 1944 19921994 1995 199819992002 2003 2007territory
 MacedoniaSerbian dinar
(Kingdom of Serbia)		Yugoslav dinar
(Kingdom of Yugoslavia)		Bulgarian levYugoslav dinar
(SFR Yugoslavia 1944-1992,
FR Yugoslavia 1992-1999,
Serbia 1999-2003,
Republika Srpska 1994-1998)		Macedonian denarMacedonia
 Serbia Serbian dinar (Occupied Serbia)  Serbian dinarSerbia
KosovoAlbanian lek
(Kosovo and Western Macedonia)		German markEuro Kosovo
 MontenegroMontenegrin perper
(Kingdom of Montenegro)		Italian lira
(Occupied Montenegro)		Montenegro
 SloveniaYugoslav krone
(State of Slovenes, Croats and Serbs)		German ReichsmarkSlovenian tolarSlovenia
 Croatia Independent State of Croatia kunaCroatian dinar Croatian kunaCroatia
Republic of Serbian KrajinaKrajina dinar
 Bosnia and HerzegovinaFederation of Bosnia and HerzegovinaBosnia and Herzegovina dinar
(Republic of Bosnia and Herzegovina)		Bosnia and Herzegovina convertible markBosnia and Herzegovina
Republika SrpskaRepublika Srpska dinarYugoslav dinar
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