Currency Rates for Macedonia
Bank Exchange Rates for Macedonia (FYROM) - MKD - Macedonian Denar - ден
The foreign exchange rates for Macedonia (FYROM) also known as the ISO code MKD or the Macedonian Denar currency and as a symbol ден.
Coins are available in denominations of 1, 2, 5, 10 and 50 denari. Banknotes are in circulation in denominations of 10, 50, 100, 200, 500, 1000, 2000 and 5000 denari.
The Denar was first introduced in 1992 when it replaced the Yugoslav dinar at a 1:1 ratio. This Denar was reformed in 1993, with a new Denar being issued at a rate of 100 old denari = 1 new denari. The name ‘denar’ is taken from the ancient Roman monetary unit, the ‘denarius’. Send Money Transfer to Macedonian Denar.
The Macedonian denar is the legal tender and official currency
of the previous (former) Yugoslav Republic of Macedonia. The rate at which the
Denar is traded and exchanged in the market is a function of the supply and
demand of foreign trade. Currently, the Macedonian Denar is trading at sixty
denars for 1 Euro. The currency is coded as MKD and is strictly issued by the
Republic of Macedoniaâ€™s National Bank. The plural version of the Denar is Denari,
and one Denar is subdivided into a hundred deni (which are no longer in use). Contrary to what is common and typical of other currencies, the Macedonian denar has no official nickname.
History of the Denar.
The original establishment of the Macedonian Denar was on 26/04/1992. This was an at par replacement of the Yugoslav dinar that was being used during the year 1990. The currency underwent another reformation on May of 1993. A brand new currency was introduced with 1 Denar equating 100 previous denari. This denar is permanent and is the one currently used in modern day Republic of Macedonia.
Notes and Coins of the Denar.
No coins were issued after the issue of the first denar in 1992. However, following the gaining of the countrys independence, several denominations of the currency were issued a few years later. The coin variations of the denar include the 1, 2, 5, 10 and the 50 denari. Bills/ notes include the 5,000, 1,000, 500, 100, 50 and the 10 denari. In order to bring back the equilibrium of the denars circulation, the Republic of Macedonias National Bank has put in measures which are aimed at withdrawing the 5,000 denari from the economy.
Restrictions of the Denar.
The Macedonian Denar is strictly minted and issued by the Republic of Macedonia National Bank. No other organization or individual has the legal permission to make this currency. The currency is also used only within the Republic of Macedonia borders. As of now, no substitutes of the currency have been issued so far.
GBP to MKD
Bank Exchange Rates for Macedonia. The foreign exchange rates for Macedonian Denar also known as the ISO code MKD. Send money transfer online with us with the cheapest options.