Slovene tolar
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The tolar was the currency of Slovenia from 8 October 1991 until the introduction of the euro on 1 January 2007. It was subdivided into 100 ''stotinov'' (cents). The ISO 4217 currency code for the Slovenian tolar was ''SIT''. From October 1991 until June 1992, the acronym ''SLT'' was in use.


History

The name ''tolar'' comes from
Thaler A thaler (; also taler, from german: Taler) is one of the large silver coins minted in the states and territories of the Holy Roman Empire and the Habsburg monarchy during the Early Modern period. A ''thaler'' size silver coin has a diameter of ...
, and is
cognate In historical linguistics, cognates or lexical cognates are sets of words in different languages that have been inherited in direct descent from an etymology, etymological ancestor in a proto-language, common parent language. Because language c ...
with '' dollar''. The tolar was introduced on 8 October 1991. It replaced the 1990 (Convertible) version of Yugoslav dinar at parity. On 28 June 2004, the tolar was pegged against the euro in the
ERM II The European Exchange Rate Mechanism (ERM II) is a system introduced by the European Economic Community on 1 January 1999 alongside the introduction of a single currency, the euro (replacing ERM 1 and the euro's predecessor, the ECU) as ...
, the European Union exchange rate mechanism. All recalled banknotes can be exchanged at the central bank for current issue.


Phase-out

On 1 January 2007, the tolar was supplanted by the euro. Slovenia issues its own euro coins, like all other nations in the Eurozone. The timescale for conversion from the tolar to the euro operated differently from the first wave of European Monetary Union (EMU). The permanent euro/tolar conversion rate was finalised on 11 July 2006 at 239.640 tolar per euro. Unlike the first wave of EMU, this period was only a day (the conversion rates were fixed on 31 December 1998 and euro non-cash payments were possible from 1 January 1999). Also unlike the first wave of EMU which had a three-year transition period (1999–2001), there was no transition period when non-cash payments could be made in both tolar and euro. The tolar was used for all transactions (cash and non-cash) until 31 December 2006 and the euro was compulsory to use for all payments (cash and non-cash) from 1 January 2007. However, as with the first wave of EMU, cash payments with the tolar could continue until 14 January 2007, but change had to be given in euro.


Coins

In 1992, coins were introduced in denominations of 10, 20 and 50 stotinov (10, 20 and 50 stotins), 1 tolar, 2 tolarja and 5 tolarjev (2 and 5 tolars). 10 tolarjev (10 tolars) coins were added in 2000, followed by 20 and 50 tolarjev (20 and 50 tolars) in 2003. The obverse designs all show the denomination, with animals native to Slovenia on the reverses. The coins were designed by
Miljenko Licul Miljenko may refer to: *Miljenko Grgic (born 1923), Croatian American winemaker in California *Miljenko Horvat (1935–2012), artist, architect, author and illustrator from Croatia *Miljenko Hrkać (1947–1978), Croatian terrorist sentenced to de ...
and Zvone Kosovelj and featured reliefs of animals by
Janez Boljka Janez may refer to: People: * Janez (given name), a Slovene given name * Janež, a Slovene surname In music: *Janez Detd., a Belgian rock band May also refer to a semi-pejorative term used in the Croatian North and beyond for Slovenes The S ...
.


Banknotes

The first banknotes were provisional payment notes issued on 8 October 1991, in denominations of 1, 2, 5, 10, 50, 100, 200, 500, 1000, and 5000 tolarjev (0.50 and 2000 tolarjev notes were also printed, but never issued; one thousand sets with matching serial numbers were sold for 5,000 tolarjev each beginning on 6 May 2002). These notes all feature
Triglav Triglav (; german: Terglau; it, Tricorno), with an elevation of , is the highest mountain in Slovenia and the highest peak of the Julian Alps. The mountain is the pre-eminent symbol of the Slovene nation. It is the centrepiece of Triglav Natio ...
, the tallest mountain in Slovenia, on the front, and the
Prince's Stone The Prince's Stone (german: Fürstenstein, sl, knežji kamen) is the reversed base of an ancient Ionic column that played an important role in the ceremony surrounding the installation of the princes of Carantania in the Early Middle Ages. After ...
, honeycomb pattern, and
Carniolan honey bee The Carniolan honey bee (''Apis mellifera carnica'', Pollmann) is a subspecies of the western honey bee. The Carniolan honey bee is native to Slovenia, southern Austria, and parts of Croatia, Bosnia and Herzegovina, Montenegro, Serbia, Hungary, ...
on the back. In 1992, the
Bank of Slovenia The Bank of Slovenia ( sl, Banka Slovenije) is the bank of issue and the central bank of the Republic of Slovenia. Based in Ljubljana, it was established on 25 June 1991. It is a non-governmental independent institution, obliged to periodically p ...
introduced the following banknotes, all of which feature notable Slovenes. The banknotes were designed by
Miljenko Licul Miljenko may refer to: *Miljenko Grgic (born 1923), Croatian American winemaker in California *Miljenko Horvat (1935–2012), artist, architect, author and illustrator from Croatia *Miljenko Hrkać (1947–1978), Croatian terrorist sentenced to de ...
and coauthors, with portraits drawn by
Rudi Španzel Rudi Španzel (born December 18, 1948, in Griže) is a Slovenian painter. Biography Rudi Španzel graduated from the Academy of Fine Arts in Ljubljana. He is one of the few contemporary painters who create on the principle of Renaissance artists ...
. They were printed by the British company
De La Rue De La Rue plc (, ) is a British company headquartered in Basingstoke, England, that designs and produces banknotes, secure polymer substrate and banknote security features (including security holograms, security threads and security printe ...
on paper produced in Radeče, Slovenia.


Historical exchange rates

Lower number indicates the tolar has a higher value. *SIT per
EUR The euro (symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . Th ...
– 233.0 (April 2006); 239.5 (June 2005); 235.7 (November 2003); 227.3 (June 2002). From 1 January 2007 the rate was irrevocably set at 239.640 and has been finalised by the European Commission. *SIT per USD – 193.0 (April 2006); 198.0 (June 2005); 201.3 (November 2003); 195.06 (January 2000); 181.77 (1999); 166.13 (1998); 159.69 (1997); 135.36 (1996); 118.52 (1995).


See also

*
Economy of Slovenia The economy of Slovenia is a developed economy, and the country enjoys a high level of prosperity and stability as well as above-average GDP per capita by purchasing power parity at 83% of the EU28 average in 2015. Nominal GDP in 2022 is 62.1 ...
* Slovenian euro coins


References

* *


External links


Information on the Slovenian tolar
Bank of Slovenia * {{DEFAULTSORT:Slovenian Tolar 1991 establishments in Slovenia 2007 disestablishments in Slovenia Currencies of Slovenia Currencies replaced by the euro Cultural history of Slovenia Modern obsolete currencies Economic history of Slovenia Currencies introduced in 1991