Macedonian Denar was introduced on April 26, 1992. At the time of its introduction, Macedonian Denar was equivalent to the Yugoslavian Convertible dinar. On May 5, 1993, Macedonian denar was denominated from being an Old denar to a New denar, with one New denar (MKD) being equal to 100 Old denar (MKN).

Currently, the exchange rate regime in Republic of Macedonia is what is referred to as a “managed float.” The denar exchange rate against the euro serves as a fundamental of the Republic of Macedonia monetary policy. Money supply and interest rates are dictated by the exchange rate target, which (as of mid-2005) is set at 61.5 Macedonian denars to one euro, and has remained more or less constant at that level. With this exchange rate target, Macedonian central bank (the National Bank of the Republic of Macedonia) has been maintained a stable denar exchange rate against the euro.

Macedonian citizens and any foreign guests can freely exchange foreign money for denars and vice versa in the banks and many exchange offices.
Recently the new law is passed by the Macedonian Parliament about the use of the foreign currency. Services and goods in Macedonia, can be paid by denars only and not with foreign currency.

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Macedonia Currency
Macedonian Wine Production
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Skopje History, Landmarks, Photo Gallery
Tourism in Macedonia, famous landmarks and places