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A 500 billion dinar banknote, which was the largest denomination banknote printed in Yugoslavia. Between 1992 and 1994, the Federal Republic of Yugoslavia (FRY) experienced the second-longest period of hyperinflation in world economic history [1] after that of 1920s Russia, [a] caused by an explosive growth in the money supply of the Yugoslav economy during the Yugoslav Wars. [3]
During this time, foreign currencies became widely circulated and accepted by businesses along with cheques; especially the German mark. The first hyperinflation stabilization program was adopted under the name Economic Reform Program, passed in late 1989, when, for the most part, due to total price liberalization, Yugoslavia was hit by ...
Yugoslavia re-denominated the dinar for the fifth time on 1 January 1994, at a ratio of 1 billion (10 9) to 1. The 1994 dinar ( ISO 4217 code : YUG) was the shortest-lived out of all incarnations of Yugoslav currency, as hyperinflation continued to intensify, [ 4 ] and only one coin (1 dinar) was issued for it.
Hyperinflation in Yugoslavia may refer to: Hyperinflation in the Socialist Federal Republic of Yugoslavia, late 1980s and early 1990s up to the breakup;
Hyperinflation in the Socialist Federal Republic of Yugoslavia happened before and during the period of breakup of Yugoslavia, from 1989 to 1991. In April 1992, one of its successor states, FR Yugoslavia , entered a period of hyperinflation in the Federal Republic of Yugoslavia , that lasted until 1994.
The UNSC passed over a hundred resolutions over the course of armed conflict in the former Yugoslavia, and some targeted Serbian entities outside of the Federal Republic of Yugoslavia. Resolutions 820 and 942 specifically prohibited import-export exchanges and froze assets of Republika Srpska , at the time an unrecognized Serb statelet ...
As inflation worsened into hyperinflation, banknotes for 20,000 dinara were introduced in 1987, followed by 50,000 dinara in 1988 and 100,000, 500,000, 1,000,000 and 2,000,000 dinara in 1989. The 500,000 and 2,000,000 dinara notes were unusual in that they did not feature a portrait but an image of the monument on Kozara .
The rump state that continued to designate itself as 'Yugoslavia' (Federated Republic of) was established as a confederation of two of these successor states, Serbia and Montenegro. With hyperinflation exacerbated by the economic embargo imposed during the Bosnian War , the Federal Republic of Yugoslavia (FRY) economy's downward spiral showed ...