Slovenian tolar

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.[1]

Slovenian tolar
slovenski tolar (Slovene)
ISO 4217
CodeSIT
PluralThe language(s) of this currency belong(s) to the Slavic languages. There is more than one way to construct plural forms.
Denominations
Subunit
 1⁄100stotin
Banknotes10, 20, 50, 100, 200, 500, 1000, 5000, 10,000 tolarjev
Coins
 Freq. used50 stotinov, 1, 2, 5, 10, 20, 50 tolarjev
 Rarely used10, 20 stotinov
Demographics
User(s)None, previously:
 Slovenia
Issuance
Central bankBank of Slovenia
 Websitewww.bsi.si
Valuation
Inflation0.8%
 SourceBank of Slovenia, 2005
 MethodCore CPI
EU Exchange Rate Mechanism (ERM)
Since28 June 2004
Fixed rate since11 July 2006
Replaced by euro, non cash1 January 2007
Replaced by euro, cash1 January 2007
1 € =239.640 tolars
Band15%
This infobox shows the latest status before this currency was rendered obsolete.

History

The name tolar comes from Thaler, and is cognate 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 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 and Zvone Kosovelj and featured reliefs of animals by Janez Boljka.[2]

The Only Series
ImageValueEquivalent in euros (€)Technical parametersDescriptionDate of
DiameterThicknessMassCompositionEdgeObverseReversefirst mintingissue
10 stotinov

(10 stotins)

 0.04 cent 16 mm 1.3 mm 0.55 g 98% aluminium
2% magnesium		 Plain Value, state title, year of minting Olm, "PROTEUS ANGUINUS" 29 April 1993
20 stotinov

(20 stotins)

 0.08 cent 18 mm 1.3 mm 0.7 g Long-eared owl, "ASIO OTUS"
50 stotinov

(50 stotins)

 0.21 cent 20 mm 1.3 mm 0.85 g Western honey bee, "APIS MELLIFERA" 4 January 1993
1 tolar

(1 tolar)

 0.42 cent 22 mm 1.7 mm 4.5 g 78% copper
20% zinc
2% nickel		 Milled Value, state title, year of minting Brown trout, Salmo trutta fario 4 January 1993
2 tolarja

(2 tolars)

 0.83 cent 24 mm 1.7 mm 5.4 g Barn swallow, "HIRUNDO RUSTICA"
5 tolarjev

(5 tolars)

 2.09 cent 26 mm 1.7 mm 6.4 g Alpine ibex, "CAPRA IBEX"
10 tolarjev

(10 tolars)

 4.17 cent 22 mm 2 mm 5.75 g Cupronickel
75% copper
25% nickel		 Milled Value, state title, year of minting Horse, "EQUUS" 19 April 2000
20 tolarjev

(20 tolars)

 8.35 cent 24 mm 2 mm 6.85 g Waved-edge milled White stork, "CICONIA CICONIA" 7 July 2003
50 tolarjev

(50 tolars)

 20.86 cent 26 mm 2 mm 8 g Alternating plain/ milled Bull, "TAURUS TAURUS"
These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table.

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).[3] These notes all feature Triglav, 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 Miljenko Licul and coauthors, with portraits drawn by Rudi Španzel. They were printed by the British company De La Rue on paper produced in Radeče, Slovenia.[2]

1992 Series
ImageValueEuro
equivalent		DimensionsMain colourDescriptionDate of
ObverseReversefirst printingissue
10 tolarjev €0.04 120 × 60 mm Green Primož Trubar Ursuline Church in Ljubljana
Motif from the New Testament		 15 January 1992 27 November 1992
20 tolarjev €0.08 126 × 63 mm Orange Johann Weikhard von Valvasor Angels from The Glory of the Duchy of Carniola by Valvasor
Segments of the map of Slovenia		 28 December 1992
50 tolarjev €0.21 132 × 66 mm Violet Jurij Vega Solar System
Slovenian Academy of Sciences and Arts		 19 March 1993
100 tolarjev €0.42 138 × 69 mm Yellow Rihard Jakopič The Sun by Jakopič
Plan of the former Jakopič Pavilion		 30 September 1992
200 tolarjev €0.83 144 × 72 mm Brown Jacobus Gallus Slovenian Philharmonic Hall
Musical notations		 22 February 1993
500 tolarjev €2.09 150 × 75 mm Red Jože Plečnik National and University Library of Slovenia 30 September 1992
1000 tolarjev €4.17 156 × 78 mm Blue green France Prešeren Text from Zdravljica by Prešeren 30 September 1992
5000 tolarjev €20.86 Brown Ivana Kobilca National Gallery of Slovenia
Robba fountain		 1 June 1993 13 December 1993
10 000 tolarjev €41.73 Purple Ivan Cankar Chrysanthemum
Cankar's handwriting		 28 June 1994 15 March 1995
For table standards, see the banknote specification table.

Historical exchange rates

Lower number indicates the tolar has a higher value.

  • SIT per EUR – 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

References
  1. "Pregled pomembnejših dogodkov v Sloveniji med 29. junijem in 4. julijem" [Review of More Important Events in Slovenia From 29 June until 4 July] (in Slovenian). Slovenian Press Agency.
  2. Šiška, Marko (January 2012). "Twenty Years of National Currency". Www.ukom.gov.si. Government Communication Office, Republic of Slovenia. Archived from the original on 2013-10-22.
  3. Linzmayer, Owen (2012). "Slovenia". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
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