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October 14, 1991
. Vreme News Digest Agency No 3

The Slovene "tolar"

The official parity of this money substitute is allegedly 32:1 for the unavoidable German mark. This exchange rate, however, should not be taken too seriously, although tolar achieved some kind of convertibility in the black market (like dinar, its exchange rate is 40:1 DM).

It is very indicative that tolar as the means of communication between the state of Slovenia and its citizens has immediately shown its nonfinancial nature, since the national state has ordered a cash limit to be exchanged for the new currency - 20 000 dinars. Other dinars are exchanged for shares.

The function of tolar is, as we can see, non-financial. It is not ment for saving purposes, it can only be converted into dinars - which have been accepted by the Slovenes as the money substitute (rightfully), and it has not been printed according to the criteria of the official money printing. It represents, in effect, the legitimization of self-proclaimed isolation. This is why it features in our story of economic blockades.

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