|
Denar is the official Macedonian currency. It is used in all the financial transactions within the territory of Republic of Macedonia. Denar in Macedonia was ushered into use in the year 1992. During its early days, the currency of Macedonia was considered equal to a Yugoslavia convertible denar. But since the year 1993, it was transformed into a new Denar (MKD) by splitting it into 100 old Denars (MKN).
The currency of Macedonia is available in both paper notes and coins. The notes are available in the denomination of Den10, 50, 100, 500, 1000 and 5000 whereas the coins come in the denomination of Den1,2 and 5 and 50 Deni.
The exchange rate of Macedonian currency i.e., Denar depends upon the demand and supply of foreign exchange markets. Moreover, it is the Denar exchange rate against Euro which helps in determining the monetary policy of Republic of Macedonia.
One should exchange the Denar of Macedonia only at the official exchange banks and bureaus. The foreign currency exchange service are also available at selective hotels and post offices, one must gather prior information about them. Euros are the currency that are exchanged most easily at Macedonia. Travelers cheque are also accepted though they should be in Euros or Us Dollars, otherwise one might have to pay extra charges.
|
