The Republic of Serbia spans at the crossroads of the Balkans and the Pannonian Plain in Southeastern Europe with Hungary, Romania, Bulgaria, North Macedonia, Croatia, Bosnia and Herzegovina, Montenegro, and Albania through Kosovo as its borders. Its location has made way for a number of countries to dominate the nation and its currency, the Serbian Dinar, is a reflection of the country’s interesting history.

Scenic view of Belgrade, Serbia
Source: AS

Early Currencies

Several currencies were circulating in Serbia until Prince Milos Obrenovic ordered to establish a national monetary unit. The first set of banknotes was printed in 1976 by the Institue for Manufacturing Banknotes, bearing the portrait of Prince Milos Obrenovic who subsequently became king. These paper bills have deckle borders and were printed to fund the Russo-Turkish war but were not issued. In 1884, the Privileged National Bank of the Kingdom of Serbia in Belgrade was formed. The bank was modeled after the Banque National de Belgique in Belgium. Hence, the first note ever issued by the bank, which is the 100-dinar note, was based on the design for a reserve note by the Banque National de Belgique.

Serbia 100 Dinara | 1884 | P-8a |
Source: Banknote World Educational

On December 1, 1918, the Kingdom of Serbs, Croats, and Slovenes was formed as proclaimed by Prince Regent Aleksandar Karadjordjevic. In 1929, the nation was renamed Yugoslavia in an attempt to stop local nationalism. The Serbian dinar was then replaced with the Yugoslav dinar.

Former Flag of Yugoslavia
Source: AS

Modern Banknotes In Serbia

Following the Second World War, the Serbian dinar was reintroduced, replacing the Yugoslav dinar. In 2003, the National Bank of Serbia was established and released modern Serbian banknotes printed by the Institute for Manufacturing Banknotes and Coins. These notes are similar to the 2000-2002-issued Yugoslav dinar but have a different bank seal.

Serbia 1,000 Dinara | 2003 | P-44b |
Source: Banknote World

Recent issues of Serbian banknotes are in bright colors. Just like the preceding issues, the notes feature a significant Serbian personality on their obverse, and places or objects relative to the depicted person appear on the reverse design. The only difference is that the coat of arms on the reverse is more detailed.

Serbia 20 Dinara | 2013 | P-55b |
Source: Banknote World

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