The tolar is the former Slovenian currency. The ISO code and the abbreviation are SIT. The symbol is also shown with SIT.
Exchanging the Slovenian tolar into euros
An exchange of the Slovenian tolar is only possible at Banka Slovenije in Ljubljana. The banknotes of the Slovenian tolar can be exchanged there without any time limit. The coins can only be exchanged until December 31, 2016. For 239,640 SIT you get 1 euro.
History of the Slovenian tolar
The tolar was the only currency in Slovenia. It was introduced in 1991 after Slovenia gained independence.
The Yugoslav dinar was previously the currency. The exchange of the Yugoslav dinar for the Slovenian tolar was 1: 1. The term tolar was derived from thaler.
One tolar equals 100 stotin. Coins were available in denominations of 10, 20 and 50 stotin, as well as 1, 2, 5, 10, 20 and 50 tolar. The banknotes had a value of 10, 20, 50, 100, 200, 500, 1,000, 5,000 or 10,000 tolar.
After Slovenia joined the EU in 2004, the tolar was replaced by the euro on January 1st, 2007. Slovenia is so far the only country in the former Yugoslavia that has been able to introduce the euro.
This currency exchange came in handy for Slovenia, as the tolar had become almost worthless due to high inflation. With the entry into force of the new currency, an irrevocable exchange rate was set. 1 euro thus corresponds to 239.640 SIT.
The changeover was quick and straightforward. All ATMs and electronic POS terminals were successfully converted on the first day.
After two weeks, all the cash that was in circulation was also changed. Since January 15, 2007, the Slovenian tolar can no longer be used as a means of payment.