Exchange Currency
Macedonian denar
The denar (plural: denari) 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. The currency symbol is ден, the first three letters of its name. The Macedonian denar was introduced on 26 April 1992.
The Ottoman Empire Piastre (XOTP) circulated in Macedonia while it was part of the Ottoman Empire, and Serbian Dinar circulated in Macedonia after it became part of Serbia. Initially, the Kingdom of the Serbs, Croats and Slovenes introduced their own Kronen (YUK), which were quickly replaced by the Dinar (YUS) at the rate of 1 Dinar equal to 4 Kronen. The Bulgarian Lev (BGO) was used in Macedonia between 1941 and 1944 when Macedonia was part of Bulgaria. After occupation by Germany in 1944, German Reichkreditkassenschein (XDEK) also circulated.
In April 1945, Yugoslavia was liberated, and the Yugoslav Federation Dinar was introduced with official rates of exchange set at 1 Yugoslav Federation Dinar (YUF) equal to 40 Croatian Kuna or 20 Serbian Dinars, and 50 YUF equal to 1 US Dollar. Because of persistent inflation a Hard Dinar (YUD) had to be introduced on January 1, 1966 with 1 Hard Dinar equal to 100 Yugoslav Dinar. A Convertible Dinar (YUN) was introduced on January 1, 1990 with 1 Convertible Dinar equal to 10,000 Hard Dinars.
Banknotes were issued by the Ministry of Finance from 1919 until 1920, by the National Bank of the Kingdom of Serbs, Croats and Slovenes from 1920 until 1929, by the National Bank of the Kingdom of Yugoslavia from 1929 until April 1941, by the Serbian National Bank From April 1941 until October 1944, by Democratic Federation of Yugoslavia from 1944 until 1946, by the National Bank of Yugoslavia from January 1946 until 1995.
The Macedonian Denar (MKN) was introduced at par with the Yugoslavia Convertible Dinar on April 26, 1992. The Denar (MKD) was reformed on May 5, 1993, and 1 New Denar was set equal to 100 Old Denar. The Denar is divisible into 100 Deni and is issued by the Macedonian National Bank.
The notes were produced by the printing firm “11 October” in Prilep, and were designed by graphic designers Sasho Josifovski and Borce Nikolovski, as well as the artist Borce Todorovski. The six lowest denominations are identical with the exception of their colors. They all feature a man and two women picking tobacco leaves on the front, with the back devoted to the Ilinden monument in Kruševo, which, according to the bank, “expresses the eternal fight of Macedonian citizens for life in peace and freedom.”
The name denar comes from the name of the ancient Roman monetary unit, the denarius. The currency symbol is ден, the first three letters of its name. The Macedonian denar was introduced on 26 April 1992.
Summary info
Summary information about Macedonian denar- ISO 4217 Code:
- MKD
- Currency sign:
- ден
- Country:
- Republic of Macedonia
- Subunit:
- den
- Coins:
- 50 deni, 1 denar, 2 denari, 5 denari, 10 denari, 50 denari
- Banknotes:
- 10 denari, 50 denari, 100 denari, 500 denari, 1000 denari, 5000 denari
- Central bank:
- National Bank of the Republic of Macedonia
History
The Treaty of San Stefano in 1878 ending the Russo-Turkish War gave the largest part of Macedonia to Bulgaria. Bulgaria lost much of its Macedonian territory when it was defeated by the Greeks and Serbs in the Second Balkan War of June to August 1913. Most of Macedonia went to Serbia and the remainder was divided between Greece and Bulgaria. On October 29, 1918, Serbia, which included Macedonia, joined in union with Croatia, Slovenia, and Montenegro to form the kingdom of Serbs, Croats, and Slovenes, which was renamed Yugoslavia on October 3, 1929. Bulgaria joined the Axis powers in World War II and occupied parts of Yugoslavia including Macedonia in April 1941. Macedonia was occupied by German troops in 1944. In 1945, Macedonia was reintegrated into Yugoslavia, and in 1946, it became an autonomous Yugoslavian Republic. On September 18, 1991, Macedonia declared its independence from Yugoslavia.The Ottoman Empire Piastre (XOTP) circulated in Macedonia while it was part of the Ottoman Empire, and Serbian Dinar circulated in Macedonia after it became part of Serbia. Initially, the Kingdom of the Serbs, Croats and Slovenes introduced their own Kronen (YUK), which were quickly replaced by the Dinar (YUS) at the rate of 1 Dinar equal to 4 Kronen. The Bulgarian Lev (BGO) was used in Macedonia between 1941 and 1944 when Macedonia was part of Bulgaria. After occupation by Germany in 1944, German Reichkreditkassenschein (XDEK) also circulated.
In April 1945, Yugoslavia was liberated, and the Yugoslav Federation Dinar was introduced with official rates of exchange set at 1 Yugoslav Federation Dinar (YUF) equal to 40 Croatian Kuna or 20 Serbian Dinars, and 50 YUF equal to 1 US Dollar. Because of persistent inflation a Hard Dinar (YUD) had to be introduced on January 1, 1966 with 1 Hard Dinar equal to 100 Yugoslav Dinar. A Convertible Dinar (YUN) was introduced on January 1, 1990 with 1 Convertible Dinar equal to 10,000 Hard Dinars.
Banknotes were issued by the Ministry of Finance from 1919 until 1920, by the National Bank of the Kingdom of Serbs, Croats and Slovenes from 1920 until 1929, by the National Bank of the Kingdom of Yugoslavia from 1929 until April 1941, by the Serbian National Bank From April 1941 until October 1944, by Democratic Federation of Yugoslavia from 1944 until 1946, by the National Bank of Yugoslavia from January 1946 until 1995.
The Macedonian Denar (MKN) was introduced at par with the Yugoslavia Convertible Dinar on April 26, 1992. The Denar (MKD) was reformed on May 5, 1993, and 1 New Denar was set equal to 100 Old Denar. The Denar is divisible into 100 Deni and is issued by the Macedonian National Bank.
Coins
No coins were issued for the first denar. In 1993, coins for the second denar were introduced in denominations of 50 deni (which is no longer being made), 1, 2, and 5 denari. 10 and 50 denari coins have been recently introduced.Banknotes
Notes were introduced on 27 April 1992 in denominations of 10, 25, 50, 100, 500, 1000, 5000 and 10,000 denari, although preparations for producing the first Macedonian banknotes began well before Macedonia declared its independence. The difficulties of creating a new currency in secret is reflected in the notes themselves. The paper, which was purchased from Slovenia, proved to be of poor quality and lacking in adequate security. Although denominated in denari, the name of the currency does not appear on the notes because they were printed prior to the adoption of the Law on the Monetary Unit. Likewise, the issuer appears (in Macedonian) as the National Bank of Macedonia, not its successor, the National Bank of the Republic of Macedonia.The notes were produced by the printing firm “11 October” in Prilep, and were designed by graphic designers Sasho Josifovski and Borce Nikolovski, as well as the artist Borce Todorovski. The six lowest denominations are identical with the exception of their colors. They all feature a man and two women picking tobacco leaves on the front, with the back devoted to the Ilinden monument in Kruševo, which, according to the bank, “expresses the eternal fight of Macedonian citizens for life in peace and freedom.”
MKD banknotes pictures gallery
| 10 Macedonian denari | |
|---|---|
| Banknote of 10 Macedonian denari has dimensions 140×69 mm and main colors are mountbatten pink, pale silver, gainsboro, rose quartz, linen, timberwolf and pale pink. The banknote of 10 Macedonian denari was issued in 1996. | |
 Obverse side of the 10 Macedonian denari is showing the Statue of the Goddess Isida from III century B.C., in Ohrid. Torso of the Egyptian Goddess Isida, 42 cm high, created from by very famous sculptors. Imported to Ohrid, once known as Lihnidos, the Goddess Isida, mother of the entire nature, rules from the underworld. Comforter of sufferers, it calms storms. |
 Reverse side of the 10 Macedonian denari is showing a peacock, a detail from the floor mosaic from the baptisteries of the Episcopal Basilica in the ancient city of Stobi. The peacock, a bird of paradise, drinking water from the source of life (Cantaros) symbolizes the believers craving for the Christian religion, mental peace and tranquillity. |
| 50 Macedonian denari | |
|---|---|
| Banknote of 50 Macedonian denari has dimensions 143×70 mm and main colors are battleship grey, french beige, pale spring bud, linen, bistre, payne’s grey, desert sand and rosy brown. The banknote of 50 Macedonian denari was issued in 1996. | |
 Obverse side of the 50 Macedonian denari is showing the Copper Folis, Emperor Anastasie I (491-518); a decorative stucco arch from the south wall of the church of St. St. Panteleimon in Gorno Nerezi, Skopje. This is the frame for the fresco of St.Panteleimon, the patron of the church which was built in 1164 and contains magnificent frescoes. St. Panteleimon was a doctor, always presented with a scalpel and bottle of medicine in his hand, a protector of doctors and health. |
 Reverse side of the 50 Macedonian denari is showing the image of Archangel Gabriel. From the scene of the Annunciation on the east wall of the church of Saint Gheorghe in Kurbinovo on the Lake Prespa. The church dates from 1191. The frescoes were painted by the outstanding artist, Pictor I. |
| 100 Macedonian denari | |
|---|---|
| Banknote of 100 Macedonian denari has dimensions 145×70 mm and main colors are light taupe, grullo, pale silver, desert sand, rose quartz, pastel purple and mint cream. The banknote of 100 Macedonian denari was issued in 1996. | |
 Obverse side of the 100 Macedonian denari is showing the ceiling rosette in deep relief in Albanian town house in Debar. Wealthy families used to decorate the ceilings of their houses with woodcarving, considered as baroque architectural element. |
 Reverse side of the 100 Macedonian denari is showing the Skopje, an Engraving made by a Holland printer Jacobus Harevin in 1594, now in custody in Nurnberg. |
| 500 Macedonian denari | |
|---|---|
| Banknote of 500 Macedonian denari has dimensions 149×70 mm and main colors are raw umber, light coral, dark salmon, bisque, rifle green, deep carrot orange, manatee and isabelline. The banknote of 500 Macedonian denari was issued in 2003. | |
 Obverse side of the 500 Macedonian denari is showing a Golden-Mask. This death mask is made of fine gold tin, dating from the VI century B.C. |
 Reverse side of the 500 Macedonian denari is showing a Poppy (Papaveraceae). This Poppy was introduced to Macedonia in 1835. The blossom of the poppy is of a violet colour. It is grown in Tikves, Gevgelija, Veles Ares. |
| 1000 Macedonian denari | |
|---|---|
| Banknote of 1000 Macedonian denari has dimensions 152×70 mm and main colors are copper, pale brown, copper, raw umber, beaver, isabelline, light apricot and cinereous. The banknote of 1000 Macedonian denari was issued in 2003. | |
 Obverse side of the 1000 Macedonian denari is showing the Icon - Madonna Episkepsis from the church of St.Vrachi-Mali, Ohrid, early XIV century . The Icon of the Madonna Episkepsis is depicted in its true dimensions, with an image of the Christ Child in the right. The presence of tow angeles in the upper corners of the icon symbolize the depiction of the Sorrowful Virgin. |
 Reverse side of the 1000 Macedonian denari is showing a detail from the church of "St. Sofia" in Ohrid, built in X-XI centuries. This church was the seat of the Ohrid archbishopric and contains many invaluable frescoes from XI and XIV centuries. |
| 5000 Macedonian denari | |
|---|---|
| Banknote of 5000 Macedonian denari has dimensions 155×70 mm and main colors are dark tan, pastel brown, pale gold, light taupe, desert sand, lavender mist and isabelline. The banknote of 5000 Macedonian denari was issued in 1996. | |
 Obverse side of the 5000 Macedonian denari is showing a Tetovo Maenad. The Tetovo Maenad is a bronze figurine, an archeological discovery, unearthed in a rich grave discovered in Tetovo and constructed in the last decades of VI century B.C. The figurine represents a character playing and dancing with her partner, a satire, in honour of the cult of the god Dionysis. It represents the artistic expression of the beginnings of the ancient era in Macedonia. |
 Reverse side of the 5000 Macedonian denari is showing a Mosaic - Heraklea Linkestis - Cerberus tied to fig tree, VI century. This mosaic taken from the floor of the Nartex in the Great Basilica in Heraklea represents the Christian Universe. The landscape is depicted by trees laden with fruit, around which birds are flying and between which are animals and bushes in flower. Cerberus the Dog is tied to the fig tree, representing the watcher of Heaven. |
Useful links
- About National Bank of the Republic of Macedonia:
- National Bank of the Republic of Macedonia
- List of currencies:
- Currencies
- Security and design features of MKD banknotes:
- MKD banknotes
- MKD currency on Wikipedia:
- Macedonian denar
- Official Website of National Bank of the Republic of Macedonia:
- www.nbrm.mk
- Commemorative coins:
- Commemorative Coins