Serbian central bank report indicates slow progress on reversing ‘euroisation’
Most loans and deposits are still denominated in foreign currency, report shows
Serbia's central bank has published its latest quarterly report on "dinarisation", the process of reversing the use of the euro, rather than the official domestic currency, the dinar.
Citizens in the Balkan republic effectively stopped using the dinar in the late 1990s in the face of hyperinflation caused by political instability and war. They initially used the German Deutschmark, replacing it with the euro after the advent of the single European currency in a phenomenon dubbed "euroisation".
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