Word: dinar
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Dates: during 1950-1959
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Marshal Tito's government took a step toward making its money honest. It announced last week that the Yugoslav dinar, pegged at a phony rate of 50 to $1 while its free market value dropped as low as 700 to $1, was being devalued to a rate of 300 to $1. The cut came after two months of conference with a visiting mission of the 5O-nation International Monetary Fund, which advised Yugoslavia that its best chance of trading with the West would come from cleaning up its currency...