2023-12-12 10:38:51.0
150 years of the Serbian dinar as the national currency
Today, Serbia is celebrating an important event in its economic history - the 150th anniversary of the dinar as the national currency.
The Serbian dinar began its journey on 12 December 1873, when it became the official Serbian currency, with the adoption of the Law on Minting the Serbian Silver Currency, i.e. when it was introduced as the legal tender of the Principality of Serbia.
This jubilee is not only a major historical milestone, but also a testimony to the stability and resilience of our economy.
Over the course of 150 years, the dinar witnessed the transformation of Serbia, from a principality to a kingdom, through the turbulent times of the common state of Yugoslavia, and finally into the modern Republic of Serbia. On this path, the Serbian dinar has remained a constant and a symbol of the progress of our nation and a reflection of our national identity and heritage. Banknotes and coins bear the images of our historical figures, landmarks and cultural symbols, reminding us of our rich history and cultural heritage. They serve as a reminder of our collective achievements and the values that define us as a people.
“Celebrating this anniversary, I proudly point out the stability of our currency over the last decade - today the dinar is a symbol of Serbia’s monetary and overall economic stability and a currency that attracts an increasing number of investors from different parts of the world. Ever since I came at the helm of the National Bank of Serbia in 2012, the stability of the dinar has had no alternative, because it is the point where the interests of all economic actors meet - citizens and companies, importers and exporters, investors, depositors, borrowers, but most importantly, our state. Maintaining the dinar’s stability in a decade fraught with numerous global uncertainties was not an easy task, but the National Bank succeeded and now that stability has become its trademark,” said Governor Tabaković. “The commitment to maintaining price stability, ensuring the stability of the domestic financial system and promoting the dinarisation strategy are key to raising the importance of our national currency in the world and among international investors.”
Whether in paper or coined form, money was and remains a witness of the times that the country is going through. It reflects the tumultuous historical, social, political and economic conditions and circumstances that this country went through, as well as the changes in the state and social order during its many decades of existence. From the 1930s, our money finally began to be produced in the country, in the Institute for Manufacturing Banknotes and Coins – Topčider, where even today money issues intended for circulation are made.
In the year in which we mark a significant anniversary in the history of the national currency, the National Bank of Serbia will organise the exhibition “150 years of the Serbian dinar” (opening on 21 December) in order to shed light on all the important milestones on the dinar’s long journey.
In addition to the coins issued under the mentioned Law, the exhibition will also present other issues of coins of the Kingdom of Serbia, as well as paper money issued by the Privileged National Bank of the Kingdom of Serbia, dinar-crown banknotes which marked the period of the founding of Yugoslavia, and banknotes of the Kingdom of Yugoslavia whose artistic solutions were created by renowned artists of the time.
The exhibition will be an opportunity to recall the banknotes that preceded the issuance of the money of socialist Yugoslavia, which were created during World War II, the banknotes of the 1960s and 1970s which we recognise by the monuments they present, but also banknotes of the turbulent period of the breakup of Yugoslavia which is most faithfully depicted in numerous monetary issues from the period of hyperinflation.
In addition to the current money of the Republic of Serbia, the exhibition will also display commemorative coins, starting from their appearance in 1968 and ending with the latest samples bearing the image of Nikola Tesla.
“Changes in the dinar’s appearance and the symbols it bears are a testimony to the times our country went through in the course of history. However, looking ahead, we must continue to build on the legacy of the Serbian dinar. We must adapt to the changing global economic environment, but also, respecting the specificities of our own economy, be aware of the technological progress and lead the way, by encouraging innovation in our financial sector in a cautious and well-calibrated manner. It is only in this way that we can ensure that the Serbian dinar remains a strong and reliable currency for the generations to come,” said Governor Tabaković. “This anniversary offers a unique opportunity to express gratitude to everyone who contributed to the success of the Serbian dinar, and most importantly, to the Serbian people, the citizens. Their trust in our currency is what has maintained its value and importance over the years,” concluded the Governor.