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Concept
Serbian dinar
Summary
The dinar (динар, dînaːr; paucal: dinara / динара; abbreviation: DIN (Latin) and дин (Cyrillic); code: RSD) is the currency of Serbia. The dinar was first used in Serbia in medieval times, its earliest use dating back to 1214. The dinar was reintroduced as the official Serbian currency by Prince Mihailo Obrenović in the 19th century. One dinar was formerly subdivided into 100 para.
Medieval Serbian coinage
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. Venetians were wary of this, and Dante Alighieri went so far as to put the Serbian king of his time, Stephen Uroš II Milutin of Serbia, in Hell as a forger (along with his Portuguese and Norwegian counterparts):
E quel di Portogallo e di Norvegia lì si conosceranno, e quel di Rascia che male ha visto il conio di Vinegia.
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").
After the Principality of Serbia was formally established (1817), there were many different foreign coins in circulation. Eventually, Prince Miloš Obrenović decided to introduce some order by establishing exchange rates based on the groat (Serbian groš, French and English piastre, Turkish kuruş) as money of account. In 1819 Miloš published a table rating 43 different foreign coins: 10 gold, 28 silver, and 5 copper.
After the last Ottoman garrisons were withdrawn in 1867, Serbia was faced with multiple currencies in circulation.
Official source
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