Slovenian tolar


The tolar was the currency of Slovenia from 8 October 1991 until the introduction of the euro on 1 January 2007. It was subdivided into 100 stotinov. The ISO 4217 currency code for the Slovenian tolar was SIT. From October 1991 until June 1992, the acronym SLT was in use.

History

The name tolar comes from Thaler, and is cognate with dollar. The tolar was introduced on 8 October 1991. It replaced the 1990 version of Yugoslav dinar at parity. On 28 June 2004, the tolar was pegged against the euro in the ERM II, the European Union exchange rate mechanism. All recalled banknotes can be exchanged at the central bank for current issue.

Phase-out

On 1 January 2007, the tolar was supplanted by the euro. Slovenia issues its own euro coins, like all other nations in the Eurozone.
The timescale for conversion from the tolar to the euro operated differently from the first wave of European Monetary Union. The permanent euro/tolar conversion rate was finalised on 11 July 2006 at 239.640 tolar per euro. During the
first wave of EMU, this period was only a day. Also unlike the first wave of EMU which had a three-year transition period, there was no transition period when non-cash payments could be made in both tolar and euro. The tolar was used for all transactions until 31 December 2006 and the euro must be used for all payments from 1 January 2007. However, as with the first wave of EMU, cash payments with the tolar could continue until 14 January 2007, but change had to be given in euro.

Coins

In 1992, coins were introduced in denominations of 10, 20 and 50 stotinov, 1 tolar, 2 tolarja and 5 tolarjev. 10 tolarjev coins were added in 2000, followed by 20 and 50 tolarjev in 2003. The obverse designs all show the denomination, with animals native to Slovenia on the reverses. The coins were designed by Miljenko Licul and Zvone Kosovelj and featured reliefs of animals by Janez Boljka.

Banknotes

The first banknotes were provisional payment notes issued on 8 October 1991, in denominations of 1, 2, 5, 10, 50, 100, 200, 500, 1000, and 5000 tolarjev. These notes all feature Triglav, the tallest mountain in Slovenia, on the front, and the Prince's Stone, honeycomb pattern, and Carniolan honey bee on the back.
In 1992, the Bank of Slovenia introduced the following banknotes, all of which feature notable Slovenes. The banknotes were designed by Miljenko Licul and coauthors, whereas portraits were drawn by Rudi Španzel. They were printed by the British company De La Rue on paper produced in Radeče, Slovenia.

Historical exchange rates

Lower number indicates the tolar has a higher value.