Para (currency) Para (currency) The para (Cyrillic: пара, from Turkish "para", from Persian "pārah", "piece" ) was a former currency of the Ottoman Empire, Turkey, Montenegro, Albania and Yugoslavia and is the current subunit, although rarely used, of the Serbian dinar. As a former Ottoman and Turkish currency, it was 1/40 of a "kuruş", which was, in turn, 1/100 of a Turkish lira. It was also earlier 3 "akçe" The modern Turkish lira is only divided into "kuruş". In Serbia, the "para" has been the subunit of the dinar since the 19th century. The Montenegrin perper was subdivided into 100 "pare" during
Korean currency when it became a floating currency, but was then immediately devalued at nearly half of its value because of the East Asian financial crisis. Korean currency Korean currency dates back as far as the Goryeo dynasty (918–1392) when the first iron coins were minted. During that period, even though some imported Chinese currency was also in circulation, commodity currency such as grain and linen continued in general circulation. It was not until the beginning of the Joseon period that copper coins were minted for wide circulation. Jeohwa (저화/楮貨), which was made of standardized mulberry-bark paper early in the Joseon period,