Note: This currency has been replaced by the Euro.
Overview
The Slovenian Tolar was the currency of Slovenia from 1991 until the introduction of the Euro on January 1, 2007. The name Tolar comes from the Thaler, a silver coin used throughout Europe for hundreds of years whose name lives on in currencies such as the “Dollar.”
The Tolar was partitioned into a hundred statins (cents). Banknotes were in denominations of 10, 20, 50, 100, 200, 500, 1,000, 5,000, 10,000 tolarjev; coins in 10, 20, 50 stotinov and 1, 2, 5, 10, 20, 50 tolarjev.
The Tolar was replaced by the Euro on January 1, 2007 at a rate of 239.640 Tolars = 1 Euro.
Economy
Slovenia has a developed economy and is per capita the richest of Slavic states, thanks to its location at the crossroads of several major trade routes, its well-educated workforce, and its well-developed infrastructure.
Since the introduction of democracy in September, 1989, Slovenia experienced one of the most stable political and economic transitions in Central and Southeastern Europe. It became the first transition country to graduate from borrower status to donor partner at the World Bank in March 2004.
Almost two thirds of Slovenians are employed in services, and over one third in industry and construction. Slovenia's economy is highly dependent on foreign trade, mainly towards Germany, Austria, Italy, and France.
In 2009, the global economic crisis reduced Slovenia’s exports and industrial production, causing its economy to contract and unemployment to rise. Growth has resumed, but unemployment remains high.
History
The Slovenian Tolar was introduced on 8 October 1991. It replaced the 1990 convertible version of the Yugoslav Dinar at par.
On 28 June 2004, the Slovenian Tolar was pegged to the Euro in ERM II (the European Union exchange rate mechanism).
Slovenia became the first 2004 European Union entrant to adopt the Euro (on January 1, 2007).
