P.M. BRIEFING : Yugoslavia Plans Million-Dinar Bill
The Yugoslav national bank is planning to introduce a 1-million-dinar bank note this fall, the official Tanjug news agency reported today.
The new note, worth $35 at the current rate, is intended to ease difficulties caused by the country’s 800% annual inflation rate. One dollar is worth almost 30,000 dinars today.
Yugoslavs and foreign tourists are obliged to carry huge quantities of paper money even when doing simple everyday shopping, and banks and other financial institutions have reported growing confusion in counting, handling and storing the vast quantities of small, nearly worthless, bills.
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