80-624: The dinar ( Cyrillic : динар ) was the currency of Yugoslavia . It was introduced in 1920 in the Kingdom of Serbs, Croats and Slovenes , which was replaced by the Kingdom of Yugoslavia , and then the Socialist Federal Republic of Yugoslavia . The dinar was subdivided into 100 para ( Cyrillic : пара ). One of the successor states to former Yugoslavia, the Federal Republic of Yugoslavia , continued to use
160-717: A fixed exchange rate of $ 35 per ounce, which was redeemable by the U.S. government . Thus, the United States was committed to backing every dollar overseas with gold, and other currencies were pegged to the dollar. For the first years after World War II , the Bretton Woods system worked well. With the Marshall Plan , Japan and Europe were rebuilding from the war, and countries outside the US wanted dollars to spend on American goods—cars, steel, machinery, etc. Because
240-569: A fortnight after it was printed. Until 1918, the dinar was the currency of Serbia . 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 first coins and banknotes bearing the name of the Kingdom of Serbs, Croats and Slovenes were issued in 1920, until which time Serbian coins and banknotes circulated. In 1929,
320-434: A day, started pricing goods in "bods" (points), often equivalent to hard currency such as one Deutschmark. The winter of 1993 was particularly hard for pensioners; if a monthly pension was spent immediately, it was still barely enough to buy three litres of milk. Many people relied on connections to friends and family abroad (who could provide hard currency) or in the countryside (who could grow food). Yugoslavia re-denominated
400-530: A few cents for the Bureau of Engraving and Printing to produce a $ 100 bill, but other countries had to pony up $ 100 of actual goods in order to obtain one". In February 1965, French President Charles de Gaulle announced his intention to exchange its U.S. dollar reserves for gold at the official exchange rate. By 1966, non-US central banks held $ 14 billion US dollars, while the United States had only $ 13.2 billion in gold reserve. Of those reserves, only $ 3.2 billion
480-505: A formal revaluation of their currencies. In March 1973, the fixed exchange rate system became a floating exchange rate system. The currency exchange rates no longer were governments' principal means of administering monetary policy . Under the floating rate system, during the 1970s, the dollar plunged by a third. Further, the Nixon shock unleashed enormous speculation against the dollar. The German Mark appreciated significantly after it
560-532: A great success. The American public believed the government was rescuing them from price gougers and from a foreign-caused exchange crisis. The Dow Jones Industrial Average rose 33 points the next day, its biggest daily gain ever at that point, and the New York Times editorial read, "We unhesitatingly applaud the boldness with which the President has moved." By December 1971, the import surcharge
640-420: A limited number of transactions. 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 ranging from 600 or so dinars to the dollar to over 1,150. This multiple exchange rate system was abolished in 1961 and replaced with a single pegged rate of 750 dinars to
720-417: A new international monetary system that came to be known as the Bretton Woods system. Conference attendees had hoped that this new system would "ensure exchange rate stability, prevent competitive devaluations, and promote economic growth". It was not until 1958 that the Bretton Woods system became fully operational. Countries now settled their international accounts in dollars that could be converted to gold at
800-423: A serious problem in the 1980s. Between 1971 and 1991, Yugoslavia's annualized inflation was 76 percent. Only Brazil and Zaire had higher levels of inflation. The large denomination coins were struck in nickel brass . The second revaluation took place on 1 January 1990, at a ratio of 10,000 to 1. During this period, the constituent republics began to leave the Socialist Federal Republic of Yugoslavia . Four of
880-474: A week later and $ 4 billion the following week. Still, this large-scale intervention by Japan's central bank could not prevent the depreciation of US dollar against the yen. France also was willing to allow the dollar to depreciate against the franc , but not allow the franc to appreciate against gold. Even much later, in 2011, Paul Volcker expressed regret over the abandonment of Bretton Woods: "Nobody's in charge," Volcker said. "The Europeans couldn't live with
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#1732772728215960-605: Is a writing system used for various languages across Eurasia . It is the designated national script in various Slavic , Turkic , Mongolic , Uralic , Caucasian and Iranic -speaking countries in Southeastern Europe , Eastern Europe , the Caucasus , Central Asia , North Asia , and East Asia , and used by many other minority languages. As of 2019 , around 250 million people in Eurasia use Cyrillic as
1040-522: Is the standard script for writing the following languages: Slavic languages : Non-Slavic languages of Russia : Non-Slavic languages in other countries : The Cyrillic script has also been used for languages of Alaska, Slavic Europe (except for Western Slavic and some Southern Slavic ), the Caucasus , the languages of Idel-Ural , Siberia , and the Russian Far East . The first alphabet derived from Cyrillic
1120-522: Is typically based on ⟨p⟩ from Latin typefaces, lowercase ⟨б⟩ , ⟨ђ⟩ and ⟨ћ⟩ are traditional handwritten forms), although a good-quality Cyrillic typeface will still include separate small-caps glyphs. Cyrillic typefaces, as well as Latin ones, have roman and italic forms (practically all popular modern computer fonts include parallel sets of Latin and Cyrillic letters, where many glyphs, uppercase as well as lowercase, are shared by both). However,
1200-593: The faux row to ensure it can be rendered properly across all systems; in some cases, such as ж with k -like ascender, no such approximation exists. Computer fonts typically default to the Central/Eastern, Russian letterforms, and require the use of OpenType Layout (OTL) features to display the Western, Bulgarian or Southern, Serbian/Macedonian forms. Depending on the choices made by the (computer) font designer, they may either be automatically activated by
1280-575: The Humac tablet to be the first such document using this type of script and is believed to date from this period. Was weak used continuously until the 18th century, with sporadic usage even taking place in the 20th century. With the orthographic reform of Saint Evtimiy of Tarnovo and other prominent representatives of the Tarnovo Literary School of the 14th and 15th centuries, such as Gregory Tsamblak and Constantine of Kostenets ,
1360-610: The National Bank of Serbia until the end of 2012. In 1920, the first coins were minted in the name of the Kingdom of Serbs, Croats and Slovenes. They were zinc 5 and 10 para and nickel-bronze 25 para. These were followed, in 1925, by nickel-bronze 50 para, 1 and 2 dinara. From 1931, coins were minted in the name of Yugoslavia, starting with silver 10 and 20 dinara, followed by silver 50 dinara in 1932. In 1938, aluminium-bronze 50 para, 1 and 2 dinara, nickel 10 dinara and reduced size, silver 20 and 50 dinara were introduced. These were
1440-609: The United States Congress released a report recommending devaluation of the dollar, in an effort to protect the dollar against "foreign price-gougers". Also in August French President Georges Pompidou sent a battleship to New York City to remove France's gold deposits. On August 9, 1971, as the dollar dropped in value against European currencies, Switzerland left the Bretton Woods system. The pressure began to intensify on
1520-408: The local variant locl feature for text tagged with an appropriate language code , or the author needs to opt-in by activating a stylistic set ss## or character variant cv## feature. These solutions only enjoy partial support and may render with default glyphs in certain software configurations, and the reader may not see the same result as the author intended. Among others, Cyrillic
1600-515: The medieval stage to the late Baroque , without a Renaissance phase as in Western Europe . Late Medieval Cyrillic letters (categorized as vyaz' and still found on many icon inscriptions today) show a marked tendency to be very tall and narrow, with strokes often shared between adjacent letters. Peter the Great , Tsar of Russia, mandated the use of westernized letter forms ( ru ) in
1680-541: The novi dinar (nominative plural: novi dinari , Cyrillic script: нови динар, нови динари; genitive plural: novih dinara , Cyrillic: нових динара; novi means new) was introduced. This was not a revaluation of the dinar. Instead, the novi dinar was pegged at par to the Deutsche Mark . On the day of the introduction of the novi dinar, the exchange rate of the previous dinar to the Deutsche Mark, and, hence, to
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#17327727282151760-533: The 10 and 50 dinara were nickel-brass. The coins bore the state title "Yugoslavia" (Jugoslavija in the Latin alphabet and Југославија in Cyrillic ) in its simplest form without any modifier. Coins were issued in 1993 in denominations of 1, 2, 5, 10 and 50 dinara struck in nickel-brass, and 100 dinara struck in brass. Brass 500 dinara coins were also struck but not issued, most being remelted. The design of these coins
1840-551: The 12th century. The literature produced in Old Church Slavonic soon spread north from Bulgaria and became the lingua franca of the Balkans and Eastern Europe. Cyrillic in modern-day Bosnia, is an extinct and disputed variant of the Cyrillic alphabet that originated in medieval period . Paleographers consider the earliest features of script had likely begun to appear between the 10th or 11th century, with
1920-683: The 19th century). After the disintegration of the Soviet Union in 1991, some of the former republics officially shifted from Cyrillic to Latin. The transition is complete in most of Moldova (except the breakaway region of Transnistria , where Moldovan Cyrillic is official), Turkmenistan , and Azerbaijan . Uzbekistan still uses both systems, and Kazakhstan has officially begun a transition from Cyrillic to Latin (scheduled to be complete by 2025). The Russian government has mandated that Cyrillic must be used for all public communications in all federal subjects of Russia , to promote closer ties across
2000-511: The Deutsche Mark (by that time defined in terms of the euro ) became the only currency there. Deutsche Mark ceased to be a legal tender in Germany and was physically replaced by the euro on January 1, 2002, which is also when Montenegro unilaterally adopted the euro , though it does not mint it . In 2003, after the creation of Serbia and Montenegro , the dinar, by then only used in Serbia,
2080-750: The Exarch); and Chernorizets Hrabar , among others. The school was also a center of translation, mostly of Byzantine authors. The Cyrillic script is derived from the Greek uncial script letters, augmented by ligatures and consonants from the older Glagolitic alphabet for sounds not found in Greek. Glagolitic and Cyrillic were formalized by the Byzantine Saints Cyril and Methodius and their Bulgarian disciples, such as Saints Naum , Clement , Angelar , and Sava . They spread and taught Christianity in
2160-469: The Federal Reserve caused the dollar to become increasingly overvalued in the 1960s. In France, the Bretton Woods system was called " America's exorbitant privilege " as it resulted in an "asymmetric financial system" where non-US citizens "see themselves supporting American living standards and subsidizing American multinationals". American economist Barry Eichengreen wrote that "It costs only
2240-775: The First Bulgarian Empire and of all Slavs : Unlike the Churchmen in Ohrid, Preslav scholars were much more dependent upon Greek models and quickly abandoned the Glagolitic scripts in favor of an adaptation of the Greek uncial to the needs of Slavic, which is now known as the Cyrillic alphabet. A number of prominent Bulgarian writers and scholars worked at the school, including Naum of Preslav until 893; Constantine of Preslav ; Joan Ekzarh (also transcr. John
2320-577: The Serbian constitution; however, the law does not regulate scripts in standard language, or standard language itself by any means. In practice the scripts are equal, with Latin being used more often in a less official capacity. The Zhuang alphabet , used between the 1950s and 1980s in portions of the People's Republic of China, used a mixture of Latin, phonetic, numeral-based, and Cyrillic letters. The non-Latin letters, including Cyrillic, were removed from
2400-467: The U.S. owned over half the world's official gold reserves—574 million ounces at the end of World War II—the system appeared secure. However, from 1950 to 1969, as Germany and Japan recovered, the US share of the world's economic output dropped significantly, from 35% to 27%. Furthermore, a negative balance of payments , growing public debt incurred by the Vietnam War , and monetary inflation by
2480-635: The Unicode definition of a character: this aspect is the responsibility of the typeface designer. The Unicode 5.1 standard, released on 4 April 2008, greatly improved computer support for the early Cyrillic and the modern Church Slavonic language. In Microsoft Windows, the Segoe UI user interface font is notable for having complete support for the archaic Cyrillic letters since Windows 8. Some currency signs have derived from Cyrillic letters: The development of Cyrillic letter forms passed directly from
Yugoslav dinar - Misplaced Pages Continue
2560-715: The United States to leave Bretton Woods. On 11 August Britain requested $ 3 billion in gold be moved from Fort Knox to the Federal Reserve in New York. By 15 August Nixon would declare there were only 10,000 metric tons of gold remaining, or less than half of the reserves the US once held. At the time, the U.S. also had an unemployment rate of 6.1% (August 1971) and an inflation rate of 5.84% (1971). To combat these problems, Nixon consulted Federal Reserve chairman Arthur Burns , incoming Treasury Secretary John Connally , and Paul Volcker , then Undersecretary for International Monetary Affairs and future Federal Reserve Chairman. On
2640-675: The Yugoslav dinar. These were the Krajina dinar and the Republika Srpska dinar . In the Federal Republic of Yugoslavia , which consisted of the remaining republics of Serbia and Montenegro , the third revaluation took place on 1 July 1992, at a ratio of 10 to 1. Hyperinflation in the country began during this currency's period of circulation. The sanctions against the Federal Republic of Yugoslavia , instituted over
2720-509: The afternoon of Friday, August 13, 1971, Burns, Connally, and Volcker, along with twelve other high-ranking White House and Treasury advisors, met secretly with Nixon at Camp David . There was great debate about what Nixon should do, but ultimately Nixon, relying heavily on the advice of the self-confident Connally, decided to break up Bretton Woods by announcing the following actions on August 15: Speaking on television on Sunday, August 15, when American financial markets were closed, Nixon said
2800-498: The alphabet in 1982 and replaced with Latin letters that closely resembled the letters they replaced. There are various systems for romanization of Cyrillic text, including transliteration to convey Cyrillic spelling in Latin letters, and transcription to convey pronunciation . Standard Cyrillic-to-Latin transliteration systems include: See also Romanization of Belarusian , Bulgarian , Kyrgyz , Russian , Macedonian and Ukrainian . Nixon Shock The Nixon shock
2880-603: The area of Preslav , in the medieval city itself and at nearby Patleina Monastery , both in present-day Shumen Province , as well as in the Ravna Monastery and in the Varna Monastery . The new script became the basis of alphabets used in various languages in Orthodox Church -dominated Eastern Europe, both Slavic and non-Slavic languages (such as Romanian , until the 1860s). For centuries, Cyrillic
2960-485: The convertibility of the dollar into gold or other reserve assets, except in amounts and conditions determined to be in the interest of monetary stability and in the best interests of the United States. Now, what is this action—which is very technical—what does it mean for you? Let me lay to rest the bugaboo of what is called devaluation. If you want to buy a foreign car or take a trip abroad, market conditions may cause your dollar to buy slightly less. But if you are among
3040-782: The correspondence between uppercase and lowercase glyphs does not coincide in Latin and Cyrillic types: for example, italic Cyrillic ⟨ т ⟩ is the lowercase counterpart of ⟨ Т ⟩ not of ⟨ М ⟩ . Note: in some typefaces or styles, ⟨ д ⟩ , i.e. the lowercase italic Cyrillic ⟨д⟩ , may look like Latin ⟨ g ⟩ , and ⟨ т ⟩ , i.e. lowercase italic Cyrillic ⟨т⟩ , may look like small-capital italic ⟨T⟩ . In Standard Serbian, as well as in Macedonian, some italic and cursive letters are allowed to be different, to more closely resemble
3120-444: The course of 1992, seriously impacted its economy. 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. Coinage became redundant. The 1993 dinar had
3200-504: The dinar for the fifth time on 1 January 1994, at a ratio of 1 billion ( 10 ) to 1. The 1994 dinar ( ISO 4217 code : YUG) was the shortest-lived out of all incarnations of Yugoslav currency, as hyperinflation continued to intensify, and only one coin (1 dinar) was issued for it. Towards the end of the 1994 dinar, the National Bank overprinted and reissued 10 million dinara banknotes from the 1992 dinar (right). On 24 January 1994,
3280-557: The dollar. On 1 January 1966, the first of five revaluations took place, at a ratio of 100 to 1. The revalued currency was initially pegged to the US dollar at a rate of 12.50 dinars to the dollar. In late 1971, this was revised to 17 dinars to the dollar. Following the Nixon Shock , Yugoslavia adopted a market exchange rate system. A foreign exchange market was established in Belgrade in which only banks could participate; this set
Yugoslav dinar - Misplaced Pages Continue
3360-418: The early 18th century. Over time, these were largely adopted in the other languages that use the script. Thus, unlike the majority of modern Greek typefaces that retained their own set of design principles for lower-case letters (such as the placement of serifs , the shapes of stroke ends, and stroke-thickness rules, although Greek capital letters do use Latin design principles), modern Cyrillic types are much
3440-495: The exchange rates for the entire country. This allowed the dinar to float (or perhaps more accurately, sink) more or less freely. Under this system, the exchange rate reached about 29 dinars to the dollar in 1981, 127 dinars to the dollar by 1984, and 457 dinars to the dollar by 1987. Yugoslavia's chronic inflation was poorly managed. The hyperinflation in the Socialist Federal Republic of Yugoslavia became
3520-562: The features of national languages, and was subjected to academic reform and political decrees. A notable example of such linguistic reform can be attributed to Vuk Stefanović Karadžić , who updated the Serbian Cyrillic alphabet by removing certain graphemes no longer represented in the vernacular and introducing graphemes specific to Serbian (i.e. Љ Њ Ђ Ћ Џ Ј), distancing it from the Church Slavonic alphabet in use prior to
3600-428: The federation. This act was controversial for speakers of many Slavic languages; for others, such as Chechen and Ingush speakers, the law had political ramifications. For example, the separatist Chechen government mandated a Latin script which is still used by many Chechens. Standard Serbian uses both the Cyrillic and Latin scripts . Cyrillic is nominally the official script of Serbia's administration according to
3680-586: The following year. Nickel-brass 20, 50 and 100 dinara were introduced in 1985 and production of all coins less than 10 dinara stopped the next year. In 1988, brass 10, 20, 50 and 100 dinara were introduced. These four coins were issued until 1989. In 1990, coins for 10, 20 and 50 para, 1, 2 and 5 dinara were introduced. The highest two denominations were minted in small numbers in 1992, the other denominations having ceased production in 1991. Coins were issued for this currency in 1992 in denominations of 1, 2, 5, 10 and 50 dinara. The 1, 2 and 5 dinara were bronze, whilst
3760-458: The following: The third indispensable element in building the new prosperity is closely related to creating new jobs and halting inflation. We must protect the position of the American dollar as a pillar of monetary stability around the world. In the past 7 years, there has been an average of one international monetary crisis every year… I have directed Secretary Connally to suspend temporarily
3840-526: The handwritten letters. The regular (upright) shapes are generally standardized in small caps form. Notes: Depending on fonts available, the Serbian row may appear identical to the Russian row. Unicode approximations are used in the faux row to ensure it can be rendered properly across all systems. In the Bulgarian alphabet , many lowercase letterforms may more closely resemble the cursive forms on
3920-547: The largest denomination out of all incarnations of Yugoslav currency: the banknote, featuring Jovan Jovanović Zmaj had a face value of 500 billion ( 5 × 10 ) dinara (right). Wages became worthless; if paid in cash, workers had to rush out and spend their wages before they lost their value overnight. Many businesses started to pay wages in goods instead, and a simple barter system developed. Businesses with good connections to politicians could still get access to hard currency. Some shops, instead of rewriting their prices several times
4000-598: The last coins issued before the Second World War . In 1945, zinc 50 para, 1, 2 and 5 dinara were introduced, followed in 1953 by aluminium coins for the same denominations. In 1955, aluminium-bronze 10, 20 and 50 dinara were added. In 1966, brass 5, 10, 20 and 50 para, and cupro-nickel 1 dinar coins (dated 1965) were introduced. In 1971, nickel-brass 2 and 5 dinara were introduced, followed by cupro-nickel 10 dinara in 1976. Production of 5, 10 and 20 para coins ceased in 1981, with bronze 25 and 50 para being introduced
4080-408: The letters' Greek ancestors . Computer fonts for early Cyrillic alphabets are not routinely provided. Many of the letterforms differ from those of modern Cyrillic, varied a great deal between manuscripts , and changed over time. In accordance with Unicode policy, the standard does not include letterform variations or ligatures found in manuscript sources unless they can be shown to conform to
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#17327727282154160-642: The name of the country changed to the Kingdom of Yugoslavia and this was reflected on the currency. In 1931, an exchange rate of 56.4 dinara to the U.S. dollar was set, which changed to 44 dinara in 1933. In 1937, a tourist exchange rate of 250 dinara to the British pound was established. In 1941, Yugoslavia was invaded and split up, with the dinar remaining currency in Territory of the Military Commander in Serbia (as Serbian dinar ). The kuna
4240-580: The name was abandoned in 2000. In 2003, as Yugoslavia became the State Union of Serbia and Montenegro , the Yugoslav dinar in the constituent Republic of Serbia was replaced by the Serbian dinar (CSD) at par. 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
4320-478: The native typeface terminology in most Slavic languages (for example, in Russian) does not use the words "roman" and "italic" in this sense. Instead, the nomenclature follows German naming patterns: Similarly to Latin typefaces, italic and cursive forms of many Cyrillic letters (typically lowercase; uppercase only for handwritten or stylish types) are very different from their upright roman types. In certain cases,
4400-432: The novi dinar, was approximately 1 DM = 13 million dinara. Despite not being pegged to the newest currency, the previous dinar did not fall further in value, remaining at about 12 million "1994" dinar to the novi dinar. The overall impact of the hyperinflation was that 1 novi dinar equalled approximately 1.2 × 10 third (hard) dinara from before 1990, 1.2 × 10 Federation dinara, or 2.4 × 10 pre-war dinara. The "novi" portion of
4480-706: The official script for their national languages, with Russia accounting for about half of them. With the accession of Bulgaria to the European Union on 1 January 2007, Cyrillic became the third official script of the European Union , following the Latin and Greek alphabets. The Early Cyrillic alphabet was developed during the 9th century AD at the Preslav Literary School in the First Bulgarian Empire during
4560-459: The one hand and Latin glyphs on the other hand, e.g. by having an ascender or descender or by using rounded arcs instead of sharp corners. Sometimes, uppercase letters may have a different shape as well, e.g. more triangular, Д and Л, like Greek delta Δ and lambda Λ. Notes: Depending on fonts available, the Bulgarian row may appear identical to the Russian row. Unicode approximations are used in
4640-529: The overwhelming majority of Americans who buy American-made products in America, your dollar will be worth just as much tomorrow as it is today. The effect of this action, in other words, will be to stabilize the dollar. The Nixon shock has been widely considered to be a political success, but an economic failure for bringing on the 1973–1975 recession , the stagflation of the 1970s, and the instability of floating currencies. Politically, Nixon's actions were
4720-479: The rates of exchanged being 1 Yugoslav dinar = 20 Serbian dinara = 40 kuna. Yugoslavia was a founding member of the International Monetary Fund . At the time, other Communist countries avoided signing up to it. The dinar was initially pegged to the US dollar at a rate of 50 dinars to the dollar. By 1955, the peg had been depreciated to 300 dinars to the dollar, but this was only applicable to
4800-580: The reform. Today, many languages in the Balkans , Eastern Europe, and northern Eurasia are written in Cyrillic alphabets. Cyrillic script spread throughout the East Slavic and some South Slavic territories, being adopted for writing local languages, such as Old East Slavic . Its adaptation to local languages produced a number of Cyrillic alphabets, discussed below. Capital and lowercase letters were not distinguished in old manuscripts. Yeri ( Ы )
4880-401: The reign of Tsar Simeon I the Great , probably by the disciples of the two Byzantine brothers Cyril and Methodius , who had previously created the Glagolitic script . Among them were Clement of Ohrid , Naum of Preslav , Constantine of Preslav , Joan Ekzarh , Chernorizets Hrabar , Angelar , Sava and other scholars. The script is named in honor of Saint Cyril . Since the script
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#17327727282154960-576: The same as modern Latin types of the same typeface family. The development of some Cyrillic computer fonts from Latin ones has also contributed to a visual Latinization of Cyrillic type. Cyrillic uppercase and lowercase letter forms are not as differentiated as in Latin typography. Upright Cyrillic lowercase letters are essentially small capitals (with exceptions: Cyrillic ⟨а⟩ , ⟨е⟩ , ⟨і⟩ , ⟨ј⟩ , ⟨р⟩ , and ⟨у⟩ adopted Latin lowercase shapes, lowercase ⟨ф⟩
5040-431: The same name for its currency until 2003, though Montenegro stopped exclusively using it in 1999 and moved away from it in 2000. In the early 1990s, economic mismanagement made the government bankrupt and forced it to take money from the savings of the country's citizens. Following the breakup of Yugoslavia , this caused severe and prolonged hyperinflation in the Federal Republic of Yugoslavia , which has been described as
5120-706: The school influenced Russian, Serbian, Wallachian and Moldavian medieval culture. This is known in Russia as the second South-Slavic influence. In 1708–10, the Cyrillic script used in Russia was heavily reformed by Peter the Great , who had recently returned from his Grand Embassy in Western Europe . The new letterforms, called the Civil script , became closer to those of the Latin alphabet; several archaic letters were abolished and several new letters were introduced designed by Peter himself. Letters became distinguished between upper and lower case. West European typography culture
5200-590: 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. Serbian enclaves in Bosnia and Herzegovina and in occupied territories in Croatia also issued currencies in dinar, equivalent to and revalued together with
5280-606: The suspension of one of its key components effectively rendered the Bretton Woods system inoperative. While Nixon publicly stated his intention to resume direct convertibility of the dollar after reforms to the Bretton Woods system had been implemented, all attempts at reform proved unsuccessful. By 1973, the current regime based on freely floating fiat currencies de facto replaced the Bretton Woods system for other global currencies . In 1944, representatives from 44 nations met in Bretton Woods, New Hampshire , to develop
5360-444: The whole of Bulgaria. Paul Cubberley posits that although Cyril may have codified and expanded Glagolitic, it was his students in the First Bulgarian Empire under Tsar Simeon the Great that developed Cyrillic from the Greek letters in the 890s as a more suitable script for church books. Cyrillic spread among other Slavic peoples, as well as among non-Slavic Romanians . The earliest datable Cyrillic inscriptions have been found in
5440-430: The worst in history. Large amounts of money were printed, with coins becoming redundant and inflation rates reaching over one billion per cent per year. This hyperinflation caused five revaluations between 1990 and 1994; in total there were eight distinct dinari. Six of the eight have been given distinguishing names and separate ISO 4217 codes. The highest denomination banknote was 500 billion dinars, which became worthless
5520-708: Was Abur , used for the Komi language . Other Cyrillic alphabets include the Molodtsov alphabet for the Komi language and various alphabets for Caucasian languages . A number of languages written in a Cyrillic alphabet have also been written in a Latin alphabet , such as Azerbaijani , Uzbek , Serbian , and Romanian (in the Moldavian SSR until 1989 and in the Danubian Principalities throughout
5600-604: Was able to cover foreign holdings as the rest was covering domestic holdings. By 1971, the money supply had increased by 10%. In May 1971, West Germany left the Bretton Woods system, unwilling to sell further Deutsche Mark for dollars. In the following three months, this move strengthened its economy. Simultaneously, the dollar dropped 7.5% against the Deutsche Mark. Other nations began to demand redemption of their dollars for gold. Switzerland redeemed $ 50 million in July. France acquired $ 191 million in gold. On August 5, 1971,
5680-451: Was allowed to float in May 1971. It forced Japan's central bank to intervene significantly in the foreign exchange market to prevent the yen from increasing in value. Within two days August 16–17, 1971, Japan's central bank had to buy $ 1.3 billion to support the dollar and keep the yen at the old rate of ¥360 to the dollar. Japan's foreign exchange reserves rapidly increased: $ 2.7 billion (30%)
5760-570: Was also adopted. The pre-reform letterforms, called 'Полуустав', were notably retained in Church Slavonic and are sometimes used in Russian even today, especially if one wants to give a text a 'Slavic' or 'archaic' feel. The alphabet used for the modern Church Slavonic language in Eastern Orthodox and Eastern Catholic rites still resembles early Cyrillic. However, over the course of the following millennium, Cyrillic adapted to changes in spoken language, developed regional variations to suit
5840-538: Was also used by Catholic and Muslim Slavs. Cyrillic and Glagolitic were used for the Church Slavonic language , especially the Old Church Slavonic variant. Hence expressions such as "И is the tenth Cyrillic letter" typically refer to the order of the Church Slavonic alphabet; not every Cyrillic alphabet uses every letter available in the script. The Cyrillic script came to dominate Glagolitic in
5920-534: Was conceived and popularised by the followers of Cyril and Methodius in Bulgaria, rather than by Cyril and Methodius themselves, its name denotes homage rather than authorship. The Cyrillic script was created during the First Bulgarian Empire . Modern scholars believe that the Early Cyrillic alphabet was created at the Preslav Literary School , the most important early literary and cultural center of
6000-603: Was dropped as part of a general revaluation of the Group of Ten (G-10) currencies, which under the Smithsonian Agreement were thereafter allowed 2.25% devaluations from the agreed exchange rate. According to Douglas Irwin in World Trade Review ' s report "The Nixon Shock After Forty Years: The Import Surcharge Revisited", for several months, U.S officials could not get other countries to agree to
6080-422: 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. In 1945, as Yugoslavia began to be reconstituted, the Yugoslav dinar replaced the Serbian dinar , Independent State of Croatia kuna and other occupation currencies, with
6160-562: Was originally a ligature of Yer and I ( Ъ + І = Ы ). Iotation was indicated by ligatures formed with the letter І: Ꙗ (not an ancestor of modern Ya, Я, which is derived from Ѧ ), Ѥ , Ю (ligature of І and ОУ ), Ѩ , Ѭ . Sometimes different letters were used interchangeably, for example И = І = Ї , as were typographical variants like О = Ѻ . There were also commonly used ligatures like ѠТ = Ѿ . The letters also had numeric values, based not on Cyrillic alphabetical order, but inherited from
6240-431: Was replaced by the Serbian dinar . In practice, the introduction of the Serbian dinar functioned as a name change with their values being at par and maintaining essentially the same banknote and coin designs except for the name of the state. Old Yugoslav banknotes remained in official use in parallel with the new Serbian notes until January 1, 2007, and old banknotes could be exchanged for new ones with services provided by
6320-719: Was similar to that of coins of the fifth dinar, except that the sixth dinar coins bore the state title "FR Yugoslavia" (SR Jugoslavija in Latin and СР Југославија in Cyrillic). Only one coin type was struck for this short-lived currency, a brass 1 dinar. In 1994, brass 1 and 5 para, and nickel-brass 10 and 50 para, and 1 novi dinar were introduced. In 2000 the word novi was dropped from the currency and new, brass 50 para, 1, 2 and 5 dinara coins were introduced. Cyrillic script Co-official script in: The Cyrillic script ( / s ɪ ˈ r ɪ l ɪ k / sih- RIL -ik ), Slavonic script or simply Slavic script
6400-522: Was the effect of a series of economic measures, including wage and price freezes , surcharges on imports, and the unilateral cancellation of the direct international convertibility of the United States dollar to gold , taken by United States President Richard Nixon on 15th August 1971 in response to increasing inflation. Although Nixon's actions did not formally abolish the existing Bretton Woods system of international financial exchange,
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