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The Serbian dinar replaced the Yugoslav dinar in 2003 when the Federal Republic of Yugoslavia was transformed into the State Union of Serbia and Montenegro. Both Montenegro and the disputed territory of Kosovo had already adopted the Deutsche Mark and later the euro when the mark was replaced by it in 2002.
The change to the euro was achieved in cooperation with the European Central Bank (ECB) and national banks in the Eurozone. [10] By December 2001, about 100 million euro in cash had been frontloaded to the Banking and Payments Authority of Kosovo. [11] Kosovo does not mint any coins of its own.
Due to concerns that Serbia could use the dinar to destabilise Kosovo and Montenegro (the latter was in a political union with Serbia until 2006), both received Western help in adopting and using the mark (though there was no restriction on the use of the dinar or any other currency). They switched to the euro when the mark was replaced.
The leaders of Serbia and Kosovo sparred at the United Nations over the latter's ban of the use of the Serbian currency in areas where minority Serbs live, the latest crisis between the two ...
Denmark is the only EU member state which has been granted an exemption from using the euro. [1] Czechia, Hungary, Poland, Romania and Sweden have not adopted the Euro either, although unlike Denmark, they have not formally opted out; instead, they fail to meet the ERM II (Exchange Rate Mechanism) which results in the non-use of the Euro.
Thousands of Kosovo Serbs in the ethnically divided town of Mitrovica rallied peacefully on Monday to protest against the decision of Kosovo's government to outlaw the Serbian dinar as legal tender.
The euro is widely accepted in Serbia, although it has no formal approval, and the official currency of the country is the Serbian dinar: Travel;
In 1945, as Yugoslavia began to be reconstituted, the Yugoslav dinar replaced the Serbian dinar, Independent State of Croatia kuna and other occupation currencies, with the rates of exchanged being 1 Yugoslav dinar = 20 Serbian dinara = 40 kuna. [7] Yugoslavia was a founding member of the International Monetary Fund. At the time, other ...