Serbian dinar
The Serbian dinar is the official currency of Serbia. One dinar is subdivided into 100 para. The dinar was first used in Serbia in medieval times, its earliest use dates back to 1214.
Medieval dinar
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. 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 wary 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 :
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.After the Principality of Serbia was formally established 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 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After the last Ottoman garrisons were withdrawn in 1867, Serbia was faced with multiple currencies in circulation.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. 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 (2006–present)
The Serbian dinar replaced the Yugoslav dinar in 2006, when Yugoslavia ended after Montenegro declaration of independence. Montenegro and the Serbian disputed territory of Kosovo had already adopted the Deutsche Mark and later the euro when the mark was replaced by it in 2002. The Serbs in North Kosovo and the enclaves within it continue to use the dinar.Coins
s currently in circulation are 1, 2, 5, 10 and 20 dinara coins. All coins feature identical inscriptions in Serbian, using the Cyrillic and Latin scripts. The 10 and 20 dinara coins are uncommon in circulation, as banknotes of the same value are used instead.Banknotes
In 2003, banknotes of the 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 | Obverse image | Reverse image | Main colour | Obverse | Reverse | Remark |
| 10 dinara 131 x 62 mm | Ochre-yellow | Vuk Stefanović Karadžić, 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 | Green | Petar II Petrović-Njegoš, 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 | Violet | Stevan Stojanović Mokranjac, 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 | Blue | Nikola Tesla, 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 | Pink | Nadežda Petrović, painter | Silhouette of the Gračanica Monastery. | Redesigned in 2005. A revised issue entered circulation in 2011. | ||
| 500 dinara 147 x 70 mm | Cyan | Jovan Cvijić, geographer | Stylized ethnic motifs. | Redesigned in 2007. A revised issue entered circulation in 2011. | ||
| 1000 dinara 151 x 72 mm | Red | Đorđe Vajfert, 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 | Grey | Milutin Milanković, mathematician, astronomer and geophysicist | Milanković's figures while at the desk and from his student days in Vienna. | Entered circulation in 2011. | ||
| 5000 dinara 159 x 76 mm | Purple | Slobodan Jovanović, 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. |