Balkan Peninsula, Europe, South East Europe, Yugoslavia

Yugoslavia – The Days of Hyperinflation

 

500 BILLION Dinars, The largest nominated banknote ever issued in Yugoslavia. 1993

The number on this banknote is Five Hundred Billion.

That is 500 x 1000 x 1000 x 1000; that is, 500, 000, 000, 000.

It is one half trillion, a number I never even heard of in relation to money in the United States until the Crash of 2008.

But this was Yugoslavia, and it was 1993, and Yugoslavia was in the midst of strife and battles and wars that led to its dissolution by the end of the decade.

Back side of 500 Billion Dinar banknote. Issued by Yugoslavia in 1993. Withdrawn after 3 months.

 

My daughter’s language tutor who lived in Yugoslavia at the time, related the following story.  Inflation was so bad that she would run to the store to cash her paycheck and buy groceries as by the morning the value would be so much less.

An article by Thayer Watkins, PHD, relates many stories of the people who lived through, what he calls, the worst episode of Hyperinflation in history.  I wish he was correct on this.  Follow the tags in this website and consider some of the other episodes of hyperinflation our world has suffered.

For more stories from the Balkan Peninsula, click here.

For story tags, see bottom of this page.

 

 

 

 

 

 

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