5 Banica

Hrvatska Banka was the short-lived republican bank established by Croatia in the lead-up to its declaration of independence from Yugoslavia. This 5 Banica note belongs to a transitional issue of 1990 — the banica being a subdivision of the Croatian dinar, itself a currency that existed only briefly before being replaced by the kuna in 1994.

Printed in Zagreb rather than through the Yugoslav federal system, the issue was a deliberate assertion of economic separation. The banica denominations saw almost no meaningful circulation; the inflationary environment of early post-Yugoslav Croatia made small-denomination paper effectively worthless within months of issue.