This content was last updated on 07.09.2022 15:35
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Having achieved high growth rates in the early 2000s, the Serbian Economy was greatly affected by the Global Economic Crisis between 2008-2012 and shrank between 2009-2012. During this period, the currency also lost value. It has a stable outlook since 2018.
Today, unemployment remains the most important problem of the Serbian economy. According to the "2015 Progress Report" of the European Commission, Serbia partially meets the Kophenang Economic Criteria, which envisages an efficient market economy and competitiveness within the European Union.
What is Serbia Currency?
The official currency of Serbia is the Serbian Dinar.
The international abbreviation code for Serbian Dinar is "RSD".
The subunit of Serbian Dinar is "Para".
1 Dinar is 100 Para.
The authority to print money in Serbia belongs to the Central Bank of Serbia (NBS).
There are currently 9 paper banknotes available. These are 10, 20, 50, 100, 200, 500, 1000, 2000 and 5000 Dinars.
Current coins are 1, 2, 5, 10 and 20 Dinars.
In daily life, "Para" is not used much and prices are usually rounded up to Dinars when making payments. For example: 49.5 Dinars are rounded to 50 Dinars. (of course, no rounding is done when paying by credit card, the payment may be fractional)
How Much is the Serbian Dinar to USD Exchange Rate?
As of September 2022, the situation of Serbian Dinar against various currencies is as follows.
- 1 USD - 117.86 Serbian Dinar
- 100 Serbian Dinars - 0.85 USD
- 1 Euro - 117.34 Serbian Dinar
- 100 Serbian Dinars - 0.85 Euro
What is the Minimum Wage in Serbia?
After briefly talking about the Serbian economy and currency, you may have wondered about the minimum wage in Serbia.
By 2022, the minimum wage in Serbia has been increased by 9.4% and is set at 35,012 Serbian Dinars (RSD).
This amount corresponds to approximately 298 Euros. We can say that it is equivalent to approximately 297 US Dollars in terms of US Dollars.
Prices of Some Products in Daily Life in Serbia
- Meals in the Restaurant: 450 - 750 Dinars
- McDonalds Menu: 430 - 600 Dinars
- Local Beer: 140 - 200 Dinars
- Coffee: 130 - 180 Dinars
- Water (0.33 Lt): 50 - 120 Dinars
- Coca Cola (0.33 Lt): 100 - 180 Dinars
- Monthly Internet: 1500 Dinars
- Cinema: 400 - 500 Dinars
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