Macedonian Denar (MKD)

Basic Concepts of Macedonian Denar

The Macedonian Denar is the legal tender of the Republic of North Macedonia, known in English as Macedonian Denar, with the currency code MKD and the symbol ден.It is issued and managed by the National Bank of North Macedonia, and is used for everyday transactions and savings.

Countries of use

The Macedonian Denar circulates and is used mainly in the territory of the Republic of Northern Macedonia. Located in the Balkan Peninsula of Southeastern Europe, the North Macedonian is the only official currency of the country and is not applicable to other countries or regions.

Units and Denominations

The Macedonian Dinar is divided into a primary unit, the Dinar, and a secondary unit, the Denar, with 1 Dinar equaling 100 Denars. Coin denominations currently in circulation include 1, 2, 5, 10 and 50 denars, while banknotes are available in denominations of 10, 50, 100, 200, 500, 1,000 and 2,000 denars for transactions of different sizes.

Historical background

The Macedonian Dinar was first issued in 1992, replacing the FYROM Dinar as the new currency of independent Northern Macedonia. It reflected the country's economic independence and underwent a number of adjustments to cope with inflation and political changes, becoming a central component of the North Macedonian financial system.