The official currency of Serbia is the Serbian dinar (ISO code: RSD; locally abbreviated as din.) which is made up of 100 para. Paper notes in denominations of 10, 20, 50, 100, 200, 500, 1000, 2000 and 5000 dinars, and coins in denominations of 1, 2, 5, 10 and 20 dinars are in circulation. There are no para denominators in circulation. When paying in cash, all prices are rounded to whole dinars. If paying with a credit/debit card, the exact amount will be charged (no rounding).

Dinar is the only legal tender in Serbia. Exchange offices are ubiquitous in major cities, and they routinely accept euros, U.S. dollars and pounds sterling. If exchanging U.S. dollars, you might be required to present a valid form of ID and the procedure may take longer as note serial numbers are recorded. There are no such formalities when exchanging other currencies. Officially aepproved exchange offices display licenses with the seal of the National Bank of Serbia. Banks also perform currency exchange, but almost always at less favorable exchange rates than small exchange offices. Either way, there is no commission charged. There are also exchange machines which can be found at the airport and in major shopping malls. The exchange rate can fluctuate in excess of 1% from one day to the other, but in overall, major fluctuations do not occur over short periods of time.

All high-way toll stations will accept euros, but may return change in dinars, depending on the amount. Most major petrol stations feature exchange offices, so if you're only transiting, exchange shouldn't present any problem.

Both credit and debit cards are now widely accepted, though the situation is somewhat different in rural areas. The most commonly accepted cards are Visa, Visa Electron, Master and Maestro. Diners and American Express are less prevalent. Cards are rarely used in bakeries, fast food outlets and tobacco stores, and never in farmers' markets so it's good to have some cash handy, if shopping at these.  ATMs are numerous in major cities. Most banks[1] will not charge a commission for retrieving cash at their ATMs, but your own bank may impose additional expenses. Check before you leave.

Traveler's cheques can be difficult to cash in, as not all banks will accept them, and finding one that will may prove to be a time-consuming effort. Unless you have no alternative, try not to rely on these for your visit to Serbia.

 

[1]: Travellers tested: Aik Banka; add other banks to the list as you tested it.