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Montenegro / 1 Products

Montenegro is a Balkan country with a narrow strip of beaches, medieval villages, and rough mountains. In the early 20th century from 1906 to 1918, the Montenegrin perper was introduced by the government during the short-lived Kingdom of Montenegro and was used in parallel with other foreign currencies like the Austrian krone. From 1922 to 1941, Montenegro used the Yugoslav dinar, the Kingdom of Serbs, Croats, and Slovenes, later known as Kingdom of Yugoslavia's currency when they were a part of it. Following World War II, after becoming part of the Socialist Federal Republic of Yugoslavia, Montenegro was bound to the Yugoslav monetary policy and used the Yugoslav dinar until 1999 as its currency.

Beginning in 1999, the government began searching for a way to protect the economic interests and monetary independence of the country. They built a dual currency system where both the dinar and Deutsche Mark were used. The decision was essentially driven by the National Bank of Yugoslavia's unsteady, expansionary monetary policy stance. The euro notes and coins were officially introduced into circulation on 1 January 2002 in many European countries, including Germany whose official currency was the Deutsche Mark. The Deutsche Mark then ceased to be legal tender instantly with the adoption of the euro. After this, Montenegro decided to unilaterally and officially adopt the euro, initially in parallel legal tender to the Deutsche Mark, and as the only legal tender starting June 2002.

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