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The name "dinar" (arab and pers. Dynạr) originates from the most famous Roman monetary "denarius" (plural denarii), which means a tenth.

When the formation of independent states in Europe occurred in the Middle Ages, every ruler emphasized his political independence by minting his own money. Thus, the dinar represented one of the most important features of the independence and statehood of the Serbian state in the Middle Ages.

Due to the loss of independence of the Serbian state, until the middle of the 19th century there were a large number of different foreign currencies on the territory of modern day Serbia, from Turkish and Russian coins, to Spanish and Dutch. The exchange value for these many types of money, was determined twice a year - in May, on Djurđevdan ( the feast of Saint George), and in November, on Mitrovdan (Orthodox holiday devoted to Dimitri of Thessaloniki, an ancient Roman commander, who was punished and greatly suffered for spreading Christianity).

From this time of Serbian monetary history, only the PARA, as the 100th part of the Serbian dinar, was taken into modern monetary money, which will soon appear in the Principality of Serbia. Today, few people know what the word itself really means. The name of this monetary term is actually derived from the Arabic word BARA, which means silver.