In Slovenia, currency has experienced some dramatic transformations in recent years. Thus was once a member of the collection of small nations that were formed into Yugoslavia after the First World War. This country gained independence in the early 1990’s. Once free, they changed from one currency to another. Their recent induction into the European Union led to their adoption of the Euro.
When Slovenia was part of the Yugoslavian confederacy, they used the Yugoslav dinar as their currency. Their use of this currency continued from 1918 until 1991. As the Cold War ended, Slovenia joined the ranks of many countries that separated from communist regimes and formed their own independent nations.
In 1991, the newly formed government of Slovenia introduced the tolar. This word is taken from the name for an ancient European currency known as the Thaler. The word dollar shares this ancestry with the tolar.
When the tolar came into use, it was issued in both coin and bill format. The single tolar was issued only as a coin. Other coins for divisions of the tolar represented 10, 20 and 50 stotins. These are comparable to cents for the American dollar. There were no coins for the single stotin. The government minted coins for s many as 50 tolars. The series of bank notes began at 10 tolars.
The Slovenian government adopted the Euro as its official Slovenia currency in 2006 and 2007. Tolars were exchanged for the new international currency through that period of time. Both were permitted for use during that time period. Toward the end of 2007, payments could still be made in tolars but all change was issued in the form of Euros. Like most nations in the Eurozone, Slovenia mints and issues its own Euro coins.