Serbian Dinar
The Serbian Dinar is the official currency of Serbia. Here are key details about this currency:
History
- Origins: The dinar has its origins in ancient Roman currency, known as denarius. Its name comes from the Latin word 'denarius', which means 'containing ten' or 'tenth'.
- First Introduction: The first Serbian dinar was introduced in the Middle Ages under the rule of the Serbian kingdom. King Stefan Nemanjić, the first Serbian king, issued coins known as "dinars" in the 13th century.
- Modern Era:
- During the 19th century, with the establishment of modern Serbia, the dinar was reintroduced. The first modern dinar was issued in 1868.
- The Yugoslav Dinar was used after the formation of Yugoslavia in 1918, and it continued until the dissolution of the country in the 1990s.
- After the breakup of Yugoslavia, Serbia and Montenegro continued to use the Yugoslav dinar until Montenegro adopted the Euro in 2002.
- Serbia introduced its own dinar in 2003, post the dissolution of the Federal Republic of Yugoslavia.
Currency Symbol
The symbol for the Serbian dinar is "din" or "Дин" in Cyrillic. It is often abbreviated as RSD for the international currency code.
Denominations
- Coins: 1, 2, 5, 10, and 20 dinars.
- Banknotes: Current banknotes are in denominations of 10, 20, 50, 100, 200, 500, 1000, 2000, and 5000 dinars.
Exchange Rates
The value of the Serbian dinar is determined by market forces but is managed by the National Bank of Serbia to ensure stability. Its exchange rate can fluctuate, but it is generally pegged to a basket of currencies, with a managed float.
Inflation
Serbia has experienced high inflation rates in the past, particularly in the 1990s, but recent years have seen more stability with the National Bank of Serbia implementing policies to control inflation.
Design and Security Features
The current series of banknotes was introduced in 2003 and features prominent figures from Serbian history, literature, and science. They incorporate various security features like watermarks, holograms, and microprinting to prevent counterfeiting.
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