RSD (Serbian Dinar)

DEFINITION of 'RSD (Serbian Dinar)'

The currency abbreviation for the Serbian dinar (RSD), the currency for Serbia. The Serbian dinar is made up of 100 para and is often presented with the symbol RSD or, unofficially, din. Also known as the post-Yugoslavia dinar, this currency is used in all of Serbia, except for Kosovo. Kosovo declared itself an independent state in February 2008, although at that time Serbia still claimed sovereignty over the state.

BREAKING DOWN 'RSD (Serbian Dinar)'

The Serbian dinar dates back to 1214. The modern dinar showed up in 1868 in an attempt to remove the different foreign currencies in circulation and set up an independent monetary system. The Serbian dinar is the third modern dinar, and came into circulation in 2003, when it replaced the former dinar, the Yugoslav dinar, at par.