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25 Denari

Uitgever National Bank of Macedonia
Jaar 1992
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Samenstelling Paper
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Opschrift voorzijde РЕПУБЛИКА МАКЕДОНИЈА
25
ДВАЕСЕТ И ПЕТ
Beschrijving keerzijde Central vignette of a tobacco harvest scene, illustrating workers in the field gathering tobacco leaves, a historically significant agricultural commodity for Macedonia. The issuing authority's name and denomination inscriptions appear in Cyrillic script, with an underprint of guilloche ornamentation framing the design. A warning against falsification is printed along the lower portion of the note.
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Opmerkingen

Macedonia's first domestic currency issue followed independence from Yugoslavia in 1991, but the transition was not clean. The country initially continued using the Yugoslav dinar, and it wasn't until 1992 that the denar was introduced — initially as a transitional currency pegged at parity with the Yugoslav dinar before hyperinflation in Belgrade made that arrangement untenable. These low-denomination notes were issued almost simultaneously with the new state itself.

The watermark security on this series was notably minimal by contemporary standards, reflecting both the urgency of the print run and the limited procurement options available to a newly independent central bank with no established supplier relationships.