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All People Was Billionaires In Yugoslavia (Serbia ) In 1993

naughty.don

naughty.don: Founder; Number of posts : 462
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Post n°1

All People Was Billionaires In Yugoslavia (Serbia ) In 1993

by naughty.don Thu Jan 29, 2009 3:49 pm

In September 1993, the exchange rate had fallen to 1,700,000,000 Dinara to 1 USD, and the highest denomination was the 10,000,000,000 Dinara note which was worth only 6 USD at that time. In October 1993, Yugoslavia reformed the currency in setting 1 Million old Dinara equal to 1 New Dinara. By the end of the year, the exchange rate was 3 Trillion (3,000,000,000,000) Dinara to 1 USD. The highest denomination at that time in Yugoslavia was the 500,000,000,000 Dinara note, and it was only worth 16 US Cents, by the end of the year. It probably cost more to print the notes than they were worth.