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Yugoslavia Hyperinflation Banknotes

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5,000,000 Dinara 1993

5,000,000 Dinara 1993 front
5,000,000 Dinara 1993 back

Front: Nikola Tesla (1856-1943), Serbian-American inventor and researcher

Tesla was born in Croatia of Serbian origin. He attended the Technical University at Graz, Austria, and the University of Prague, majoring in engineering. It was in Graz he discovered the rotating magnetic field, the basis of most alternating-current machinery.

He emigrated to the United States in 1884 and sold the patent rights to his system of alternating-current dynamos, transformers, and motors to George Westinghouse the following year. In 1891 he invented the Tesla coil, an induction coil widely used in radio technology.

Back: High frequency transformer and hydroelectric dam

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10,000,000,000 Dinara 1993
(10 Billion Dinara)

10,000,000,000 Dinara 1993 front
10,000,000,000 Dinara 1993 back

Front: Nikola Tesla (1856-1943), Serbian-American inventor and researcher

Back: High frequency transformer

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500,000,000,000 Dinara 1993
(500 Billion Dinara)
The note with most zeros ever issued

500,000,000,000 Dinara 1993 front
500,000,000,000 Dinara 1993 back

Enlarge: Front500,000,000,000 dinara 1993 front
 & Back500,000,000,000 dinara 1993 back

Front: Jovan Jovanovic Zmaj (1833-1904), Serb poet

Zmaj was born in Novi Sad. He finished elementary school in Novi Sad and secondary school in Bratislava. He received his post-secondary education in Budapest, Praha and Vienna. In 1870 he came back to Novi Sad to work as a doctor.

His writing style covered all genres of poetry: love, lyric, patriotic, political, and educational. But he is most well known for his children's poetry. His nursery rhymes have entered national consciousness and people sing them to their children even without knowing who wrote them.

Back: National Library

Back to Hyperinflation Banknotes

Yugoslavia went through a period of hyperinflation and subsequent currency reforms from 1989 to 1994.
The highest denomination in 1988 was 50,000 Dinara. By 1989 it was 2,000,000 Dinara.

In the 1990 currency reform, 1 new Dinar was exchanged for 10,000 old Dinara.

In the 1992 currency reform, 1 new Dinar was exchanged for 10 old Dinara.
The highest denomination in 1992 was 50,000 Dinara. By 1993, it was 10,000,000,000 Dinara.

In the 1993 currency reform, 1 new Dinar was exchanged for 1,000,000 old Dinara. But before the year was over, the highest denomination was 500,000,000,000 Dinara.

In the 1994 currency reform, 1 new Dinar was exchanged for 1,000,000,000 old Dinara.

In another currency reform a month later, 1 Novi Dinar was exchanged for 12,000,000 Dinara.

The overall impact of hyperinflation: 1 Novi Dinar = 1,200,000,000,000,000,000,000,000,000 pre 1990 Dinara.

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