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10 Serbia Dinar
The Serbian dinar (Serbian Cyrillic: динар, pronounced [dînaːr]; paucal: dinara / динара; sign: din; code: RSD) 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 dating back to 1214. 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’). It was one of the main export articles of medieval Serbia for many years, considering the relative abundance of silver coming from Serbian mines.
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”). In 1920, the Serbian dinar was replaced at par by the Yugoslav dinar, with the Yugoslav krone also circulating together.
Second modern dinar (1941–1944) – In 1941, the Yugoslav dinar was replaced, at par, by a second Serbian dinar for use in 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 rate of 1 Yugoslav dinar = 20 Serbian dinars.
Third modern dinar (2003–present) – The Serbian dinar replaced the Yugoslav dinar in 2003 when the Federal Republic of Yugoslavia was transformed into the State Union of Serbia and Montenegro. Both Montenegro and the 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. Between 2003 and 2006, the Serbian dinar used the ISO 4217 code CSD, with CS being the ISO 3166-2 country code for Serbia and Montenegro. When the State Union was dissolved in 2006, the dinar’s ISO 4217 code was changed to the current RSD.
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