<p>Countries can get foreign currency from tourists, exports or intergovernmental aid programs. (And several other ways, but these should suffice here.)</p>

CC BY-SA 4.0
2018-12-13T21:19:01.897Z
Tourism is an export. And Kosovo's or Montenegro's balances of trade are negative... Intergovernmental aid is a possibility, but this is far from being unequivocal. Please, would you mind sharing your sources?
keepAlive
CC BY-SA 4.0
2018-12-13T22:28:11.083Z
@Kanak I have no sources. I also don't see what the balances of trade have to do with of this? The question is how they actually get the physical banknotes. These are several channels to get them. If they have debt, some countries/institutions are obviously willing to give credit, but that is a separate issue.
Giskard
CC BY-SA 4.0
2018-12-13T23:03:17.337Z
Know that when you are talking about exports, you are actually talking about one of the two components of balances of trade. Then the mecanism you are involving via exports cannot be at the source of the circulation of physical banknotes in these regions, one first reason is that having a neg. tr. balance means that you sell more your currency than you are holding it. Search for *economy of montenegro* or *of kosovo* on wikipedia, and read the *main import and/or export partners* sections. You will see that those two countries mainly deal with non-euro nations (less clear for Kosovo).
keepAlive
CC BY-SA 4.0
2018-12-13T23:16:56.267Z
Dear @Kanak it seems to me that you make no difference between credit and physical currency. I don't care at all if Kosovo owes someone €20,000 while they get physical banknotes worth €10,000. This could mean a negative trade balance, and yet Kosovo will have some physical banknotes denominated in euros.
Giskard
CC BY-SA 4.0
2018-12-13T23:29:59.350Z
Dear Denesp, please stay calm and polite. With no national central bank, the only possible and sustainable channel through which physical banknotes can exist in these countries  is the bank system as such. Read the articles I have mentioned in the OP's comment-section. Sorry, I didn't want to bother you.
keepAlive
CC BY-SA 4.0
2018-12-14T06:38:50.003Z
@Kanak "Dear Denesp, please stay calm and polite." I have no idea what you are referring to.
Giskard
CC BY-SA 4.0
2018-12-13T18:04:24.213Z
2018-12-13T22:25:40.973Z
2018-12-13T22:25:40.973Z
Giskard
<p>Both Montenegro and Kosovo have unilaterally (?) decided to use euros as their official currencies. I think that most of their capital exists only as records in bank registers, so there is not much problem with that, but what about physical notes and coins that are in circulation? Where do they get them from? </p>

CC BY-SA 4.0
2018-12-13T23:38:43.013Z
@Kanak In fact I did and did not find any conclusive answer there. The article on Kosovo mentions that almost 20 years ago ECB transferred some cash to Kosovo (the fact it supported introduction of Euro baffles me and it was why I have written "unilaterally (?)" in my question). It does not however explain the situation of Montenegro and I do not really believe that Kosovo did not need new notes and coins after the initial transfer.
lukeg
CC BY-SA 4.0
2018-12-14T00:12:56.997Z
Do you speak french? [This source](https://www.latribune.fr/actualites/economie/international/20140617trib000835575/ce-pays-qui-veut-abandonner-l-euro-le-kosovo.html) is actually explaining that Kosovo, still isolated in terms of trade flows (actually, not having a sufficient level of exports) considers the possibility of making its own money, having difficulties to maintain a good level of physical liquidity in its economy, on the verge of *anemization*.
keepAlive
<currency>
Where do Montenegro and Kosovo get their euros from?
lukeg
# Where do Montenegro and Kosovo get their euros from?

(Asked by: username_0 on 2018-12-13)

Both Montenegro and Kosovo have unilaterally (?) decided to use euros as their official currencies. I think that most of their capital exists only as records in bank registers, so there is not much problem with that, but what about physical notes and coins that are in circulation? Where do they get them from?

**Tags:** currency

> **Comments:**
> **username_0**: @Kanak In fact I did and did not find any conclusive answer there. The article on Kosovo mentions that almost 20 years ago ECB transferred some cash to Kosovo (the fact it supported introduction of Euro baffles me and it was why I have written "unilaterally (?)" in my question). It does not however explain the situation of Montenegro and I do not really believe that Kosovo did not need new notes and coins after the initial transfer.  
> **username_1**: Do you speak french? [This source](https://www.latribune.fr/actualites/economie/international/20140617trib000835575/ce-pays-qui-veut-abandonner-l-euro-le-kosovo.html) is actually explaining that Kosovo, still isolated in terms of trade flows (actually, not having a sufficient level of exports) considers the possibility of making its own money, having difficulties to maintain a good level of physical liquidity in its economy, on the verge of *anemization*.  

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## 1 answers

### Answer by username_2 on 2018-12-13. Score: 1

Countries can get foreign currency from tourists, exports or intergovernmental aid programs. (And several other ways, but these should suffice here.)

> **Comments:**
> **username_1**: Tourism is an export. And Kosovo's or Montenegro's balances of trade are negative... Intergovernmental aid is a possibility, but this is far from being unequivocal. Please, would you mind sharing your sources?  
> **username_2**: @Kanak I have no sources. I also don't see what the balances of trade have to do with of this? The question is how they actually get the physical banknotes. These are several channels to get them. If they have debt, some countries/institutions are obviously willing to give credit, but that is a separate issue.  
> **username_1**: Know that when you are talking about exports, you are actually talking about one of the two components of balances of trade. Then the mecanism you are involving via exports cannot be at the source of the circulation of physical banknotes in these regions, one first reason is that having a neg. tr. balance means that you sell more your currency than you are holding it. Search for *economy of montenegro* or *of kosovo* on wikipedia, and read the *main import and/or export partners* sections. You will see that those two countries mainly deal with non-euro nations (less clear for Kosovo).  
> **username_2**: Dear @Kanak it seems to me that you make no difference between credit and physical currency. I don't care at all if Kosovo owes someone €20,000 while they get physical banknotes worth €10,000. This could mean a negative trade balance, and yet Kosovo will have some physical banknotes denominated in euros.  
> **username_1**: Dear Denesp, please stay calm and polite. With no national central bank, the only possible and sustainable channel through which physical banknotes can exist in these countries  is the bank system as such. Read the articles I have mentioned in the OP's comment-section. Sorry, I didn't want to bother you.  
> **username_2**: @Kanak "Dear Denesp, please stay calm and polite." I have no idea what you are referring to.  

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