Product Description
SCWPM.#137 - Barac.#R185 - Date: 1993Highest denomination of Yugoslavia 500 billion Dinara
Grade: Unc. - Signature: P18 - Prefix: AA
Description: Colour: Red-Violet on orange/blue.
Description: Currency reform 1993 - October till December 1993,
Yugoslavia re-denominated the dinar for the fourth time on 1 October 1993, at a ratio of 1 million to 1.
This did not mitigate the hyperinflation, and the 1993 dinar lasted for only three months.
Coinage became redundant. The 1993 dinar had the largest denomination out of all incarnations of Yugoslavian currency: the banknote, featuring Jovan Jovanović Zmaj had a face value of 500 billion dinara.
Wages became worthless; if paid in cash, workers had to rush out and spend their wages before they lost their value overnight. Many businesses started to pay wages in goods instead, and a simple barter system developed. Businesses with good connections to politicians could still get access to hard currency. Some shops, instead of rewriting their prices several times a day, started pricing goods in "bods" (points), often equivalent to hard currency such as one Deutschmark.
The winter of 1993 was particularly hard for pensioners; if a monthly pension was spent immediately, it was still barely enough to buy three litres of milk. Many people relied on connections to friends and family abroad (who could provide hard currency) or in the countryside (who could grow food)
Source: WIKIpedia
This did not mitigate the hyperinflation, and the 1993 dinar lasted for only three months.
Coinage became redundant. The 1993 dinar had the largest denomination out of all incarnations of Yugoslavian currency: the banknote, featuring Jovan Jovanović Zmaj had a face value of 500 billion dinara.
Wages became worthless; if paid in cash, workers had to rush out and spend their wages before they lost their value overnight. Many businesses started to pay wages in goods instead, and a simple barter system developed. Businesses with good connections to politicians could still get access to hard currency. Some shops, instead of rewriting their prices several times a day, started pricing goods in "bods" (points), often equivalent to hard currency such as one Deutschmark.
The winter of 1993 was particularly hard for pensioners; if a monthly pension was spent immediately, it was still barely enough to buy three litres of milk. Many people relied on connections to friends and family abroad (who could provide hard currency) or in the countryside (who could grow food)
Source: WIKIpedia
