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New Yugoslav Dinars in four Republics

Belgrade, 26 December - "We recognize neither the Croatian Dinar nor the Slovenian Tolar, since three official currency units can not exist on the Yugoslav territory. This means that the Croatian and Slovenian currencies can not be exchanged for the new Dinars", stated at a press conference the Governor of the National Bank of Yugoslavia, Mr. Dušan Vlatković. He added that there is no reason for alarm in those four republics that still retain Dinar as their official currency unit, as the exchange will be possible till the end of the year. The Board of Governors issued banknotes for 100, 500, 1000 and (a brand new bank note) 5000 Dinars. The exchange rate between the old and the new Dinar will be 1:1 till the end of the year. Mr. Vlatković also addressed the question of the debt of the National Bank of Slovenia, that supposedly did not promptly return the Dinar cash that remained in its vaults after the introduction of the Slovenian Tolar. Of the total 27 billion Dinars, Slovenia allegedly returned only 6 billion, while the rest has been exchanged into a hard currency debt in the amount of 974,309.041 USD by the National Bank of Yugoslavia, that will rest the matter with the International Arbitration Commission that should resolve the usettled balance between Slovenia and the "rest of the country". The National Bank of Yugoslavia also demands that Croatia pays back its debt in the amount of about 46 billion Dinars or else this debt will be turned into a hard currency debt of 2,3 billion USD. Mr. Valtković also reprimanded Croatian authorities for incorrect action as they failed to notify the National Bank of Yugoslavia of their intention to change the currency unit. On the contrary, Slovenia notified the National Bank of Yugoslavia one day before the Slovenian Tolar was put into circulation. Mr. Valtković also disclosed that fewer Dinars will be put into circulation, the total amount being only 120 billion new Dinars, a sum that is about 30% smaller than the current one.

© STA, 1991