Macedonian denar
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| Macedonian denar Македонски денар (Macedonian) |
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| ISO 4217 Code | MKD | ||||
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| User(s) | Republic of Macedonia | ||||
| Inflation | 3% | ||||
| Source | The World Factbook, 2006 est. | ||||
| Subunit | |||||
| 1/100 | deni | ||||
| Plural | denari | ||||
| Coins | 50 deni, 1, 2, 5 denari | ||||
| Banknotes | 10, 50, 100, 500, 1000, 5000 denari | ||||
| Central bank | National Bank of the Republic of Macedonia | ||||
| Website | www.nbrm.gov.mk | ||||
The denar (plural: denari, Macedonian: денар and денари, ISO 4217 code: MKD) is the currency of the Republic of Macedonia. It is subdivided into 100 deni. The name denar comes from the name of the ancient Roman monetary unit, the denarius.
Contents |
[edit] History
The first denar was introduced on April 26, 1992, and replaced the 1990 version of the Yugoslav dinar at par. On May 5, 1993, the currency was reformed, with one new denar (MKD) being equal to 100 old denar (MKN).
[edit] Coins
No coins were issued for the first denar. In 1993, coins for the second denar were introduced in denominations of 50 deni, 1, 2 and 5 denari.
[edit] Banknotes
[edit] First denar
Notes were introduced in 1992 in denominations of 10, 25, 50, 100, 500, 1000, 5000 and 10,000 denari.
[edit] Second denar
In 1993, the new denar was issued in denominations of 10, 20, 50, 100 and 500. The 20 denari was only issued in this first series of notes. In 1996, 1000 and 5000 denari notes were added.
[edit] Design controversy
The Republic of Macedonia declared independence from Yugoslavia on September 8, 1991. According to the New York Times, a version of the new country's currency began to appear in January of 1992[1]. The bills circulating contained an image of Thessaloniki, the second largest city in Greece and capital of the historical Greek province of Macedonia. Prominent in the image was the White Tower of Thessaloniki, a historic landmark. The bills prompted "outrage in Athens and... in the capital of Greek Macedonia [Thessaloniki]"[1]. These bills were never used by the government of the Republic of Macedonia.
[edit] Souvenir currency
As of 2002, Vevcani, a village in the southwestern region of the Republic of Macedonia and self-styled "independent Republic", was issuing its own money, the licnik, as a souvenir. The money is clearly labelled as "specimen" and was never intended to be used as official, legal currency.[2]
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[edit] See also
[edit] Notes and references
- ^ a b Simons, Marlise. "As Republic Flexes, Greeks Tense Up", New York Times, February 3, 1992.
- ^ "Macedonia Tolerates a 'Republic' in Its Midst", Associated Press, January 6, 2002.
[edit] External links
- Images of banknotes and coins, National Bank of the Republic of Macedonia
- Ministry of Finance website
- Old and New Banknotes
| Preceded by: Yugoslav 1990 dinar Reason: independence (on September 8, 1991) Ratio: at par |
Currency of Republic of Macedonia April 26, 1992 – May 5, 1993 |
Succeeded by: Macedonian new denar Reason: inflation Ratio: 1 new denar = 100 old denari |
| Preceded by: Macedonian new denar Reason: inflation Ratio: 1 new denar = 100 old denari |
Currency of Republic of Macedonia 1993 – |
Succeeded by: Current |
