50 000 000 Dinara

Republika Srpska's hyperinflationary spiral of 1993 produced denominations that would have been unthinkable eighteen months earlier. The 50,000,000 dinar note was not an outlier — it was quickly overtaken by even larger denominations as monthly inflation rates ran into the billions of percent. ZIN in Belgrade printed the series throughout, which was a practical arrangement given the political alignment between Pale and Belgrade at the time, though it made the Narodna Banka Republike Srpske something closer to a distribution mechanism than an independent issuing authority.

A watermark is the sole security feature — appropriate for a note whose purchasing power evaporated within days of issue.