In the early 1990s, economic mismanagement made the government bankrupt and forced it to take money from the savings of the country's citizens.

[3] Large amounts of money were printed, with coins becoming redundant and inflation rates reaching over one billion per cent per year.

The highest denomination banknote was 500 billion dinars, which became worthless a fortnight after it was printed.

It then became the currency of the Kingdom of Serbs, Croats and Slovenes, circulating alongside the krone in Croatia, Slovenia and Bosnia and Herzegovina, with 1 dinar = 4 kronen.

The kuna was introduced in Croatia and Bosnia and Herzegovina (Independent State of Croatia) at par with the dinar, whilst the Bulgarian lev, Italian lira and German Reichsmark circulated in those part of Yugoslavia occupied by these countries.

[9] For the vast majority of transactions, a system of multiple exchange rates with differing levels of government intervention applied.

Depending on the transaction the system offered over 200 different exchange rates[10] ranging from 600 or so dinars to the dollar to over 1,150.

[13] Following the Nixon Shock, Yugoslavia adopted a market exchange rate system.

Four of the six republics declared independence and issued their own currencies shortly after, and the breakup of Yugoslavia was recognized by the international community at the turn of 1992.

This was the last dinar that bore the coat of arms and the name of the "Socialist Federal Republic of Yugoslavia" in multiple languages.

People started to use foreign hard currency, such as Deutsche Marks, to mitigate some of the problems of hyperinflation.

Yugoslavia re-denominated the dinar for the fourth time on 1 October 1993, at a ratio of 1 million to 1.

This did not mitigate the hyperinflation, and the 1993 dinar (ISO 4217 code: YUO) lasted for only three months.

The 1993 dinar had the largest denomination out of all incarnations of Yugoslav currency: the banknote, featuring Jovan Jovanović Zmaj had a face value of 500 billion (5×1011) dinara (right).

Many businesses started to pay wages in goods instead, and a simple barter system developed.

Many people relied on connections to friends and family abroad (who could provide hard currency) or in the countryside (who could grow food).

On 6 November 1999, Montenegro decided that, besides the Yugoslav dinar, the Deutsche Mark would also be an official currency.

On 13 November 2000, the dinar was dropped in Montenegro and the Deutsche Mark (by that time defined in terms of the euro) became the only currency there.

The coins bore the state title "Yugoslavia" (Jugoslavija in the Latin alphabet and Југославија in Cyrillic) in its simplest form without any modifier.

In 2000 the word novi was dropped from the currency and new, brass 50 para, 1, 2 and 5 dinara coins were introduced.