DEFINITION of 'SIT (Slovenian Tolar)'
The currency abbreviation for the Slovenian tolar (SIT), the currency for Slovenia from October 1991 until December of 2006. The Slovenian tolar was made up of 100 stotinov. The correct pronunciation of the currency depended on the amount of currency to which the speaker was referring. 2 SIT were called 2 "tolarja"; 3 or 4 SIT were called 3 or 4 "tolarji"; "tolarjev" referred to 5 SIT or more.
BREAKING DOWN 'SIT (Slovenian Tolar)'
The tolar was introduced as the currency of Slovenia in 1991, replacing the Yugoslav dinar at par. When Slovenia joined the European Monetary Union in January of 2007, the tolar was replaced by the euro at a rate of 239.64:1.