About the AUD/RSD rate
The AUD/RSD rate is how many RSD one Australian dollar buys. It moves constantly with interest-rate expectations, commodity prices and global risk sentiment - see what moves the rate. Tradergy shows the mid-market reference rate and does not forecast where it’s heading. For the 52-week highs and lows and a daily table, see the AUD/RSD rate history.
Reading the same rate from the other side: the reverse rate, RSD → AUD, is on the receiving Serbian dinar view, and sending Australian dollars to Serbia is covered on the AUD → RSD transfer page. Every AUD pair sits on the convert hub, and to work in more than one currency at once there is the currency converter.
What hyperinflation did to the denominations
There is an object at the centre of this story. At the end of 1993 the National Bank of Yugoslavia put a note into circulation with a face value of five hundred billion dinars, and by the time it reached anyone's hands it could not buy a single German mark on the street. The monetary historian Milica Stojković, writing in the Open Journal for Studies in History, reproduces it as the highest denomination the episode produced.
The rate of change behind that number is difficult to hold in the head. Stojković, drawing on the study by Petrović, Bogetić and Vujošević in the Journal of Comparative Economics, puts the peak monthly inflation rate at 313,563,558 per cent in January 1994, which works out at 62 per cent a day. The episode ran from March 1992 to January 1994, which Stojković ranks among the longest in recorded economic history. The United Nations Security Council imposed its embargo on the Federal Republic of Yugoslavia on 30 May 1992, two months after the episode had begun.
Money in that condition stops being used, and Stojković puts a number on the abandonment. By January 1994 the money supply had fallen to 0.4 per cent of gross domestic product, against a normal range Stojković gives as 25 to 30 per cent. Serbians settled in German marks, or in dinars at a black rate that changed several times a day.
Ending it took a reconstruction programme designed by Dragoslav Avramović and, on 24 January 1994, the sixth redenomination of the dinar since the Second World War. The first had come in August 1965 at a hundred to one. The last introduced the novi dinar. Today's Serbian dinar descends directly from it, issued now by the National Bank of Serbia, successor to the Yugoslav institution whose notes carried those denominations.