The tolar was the

currency A currency is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a ''system of money'' in common use within a specific envi ...

Slovenia Slovenia, officially the Republic of Slovenia, is a country in Central Europe. It borders Italy to the west, Austria to the north, Hungary to the northeast, Croatia to the south and southeast, and a short (46.6 km) coastline within the Adriati ...

from 8 October 1991 until the introduction of the

euro The euro (currency symbol, symbol: euro sign, €; ISO 4217, currency code: EUR) is the official currency of 20 of the Member state of the European Union, member states of the European Union. This group of states is officially known as the ...

on 1 January 2007. It was subdivided into 100 ''stotinov'' (cents). The

ISO 4217 currency code ISO 4217 is a standard published by the International Organization for Standardization (ISO) that defines alpha codes and numeric codes for the representation of currencies and provides information about the relationships between individ ...

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 or taler ( ; , previously spelled ) 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 o ...

, and is

cognate In historical linguistics, cognates or lexical cognates are sets of words that have been inherited in direct descent from an etymological ancestor in a common parent language. Because language change can have radical effects on both the s ...

with ''

dollar Dollar is the name of more than 25 currencies. The United States dollar, named after the international currency known as the Spanish dollar, was established in 1792 and is the first so named that still survives. Others include the Australian d ...

''. The tolar was introduced on 8 October 1991. It replaced the 1990 (Convertible) version of

Yugoslav dinar The dinar ( sh-Cyrl, динар) was the currency of Yugoslavia. It was introduced in 1920 in the Kingdom of Serbs, Croats and Slovenes, which was replaced by the Kingdom of Yugoslavia, and then the Socialist Federal Republic of Yugoslavia. Th ...

at parity. On 28 June 2004, the tolar was pegged against the euro in the ERM II, 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

. Slovenia issues its own euro coins, like all other nations in the

Eurozone The euro area, commonly called the eurozone (EZ), is a Monetary union, currency union of 20 Member state of the European Union, member states of the European Union (EU) that have adopted the euro (Euro sign, €) as their primary currency ...

. 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 Licul (6 August 1946 – 16 March 2009) was a Slovenian graphic designer of Croatian descent.(Slovenian) He was one of the most prominent graphic designers in independent Slovenia. Life and work Licul was born in the Istrian town of V ...

and Zvone Kosovelj and featured reliefs of animals by Janez Boljka.

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 (; ; ), 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, appearing on the Coat of arms of Slovenia, coat of arms and Flag ...

, the tallest mountain in Slovenia, on the front, and the Prince's Stone, honeycomb pattern, and Carniolan honey bee on the back. In 1992, the Bank of Slovenia introduced the following banknotes, all of which feature notable Slovenes. The banknotes were designed by

and coauthors, with portraits drawn by Rudi Španzel. They were printed by the British company

De La Rue De La Rue plc (, ) is a British company headquartered in Basingstoke, England, that produces secure digital and physical protections for goods, trade, and identities in 140 countries. It sells to governments, central banks, and businesses. Its ...

on paper produced in Radeče, Slovenia.

Historical exchange rates

Lower number indicates the tolar has a higher value. *SIT per

EUR The euro (symbol: €; currency code: EUR) is the official currency of 20 of the member states of the European Union. This group of states is officially known as the euro area or, more commonly, the eurozone. The euro is divided into 10 ...

– 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 The European Commission (EC) is the primary Executive (government), executive arm of the European Union (EU). It operates as a cabinet government, with a number of European Commissioner, members of the Commission (directorial system, informall ...

. *SIT per

USD The United States dollar (symbol: $; currency code: USD) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it int ...

– 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).

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 Dollar Thaler