Bosnia-Herzegovina Convertible Mark
BAMOfficial currency of Bosnia and Herzegovina
About the Bosnia-Herzegovina Convertible Mark
The Convertible Mark was established by the 1995 Dayton Peace Agreement, which ended the Bosnian War. It replaced the Bosnian and Herzegovinian dinar, Croatian kuna, and Republika Srpska dinar.
The name 'Mark' comes from the German Deutsche Mark, to which it was originally pegged. 'Fening' is derived from the German 'Pfennig'.
Interesting Facts
Pegged to the Euro
The Convertible Mark is pegged to the Euro at a fixed exchange rate (1 EUR = 1.95583 BAM) under a currency board arrangement.
Two Versions of Banknotes
There are two series of banknotes, one for the Federation of Bosnia and Herzegovina and one for Republika Srpska, with different designs but equal value.
A Symbol of Peace
The introduction of a single, stable currency was a crucial step in the economic and political reconstruction of post-war Bosnia and Herzegovina.
Historical Timeline
The Dayton Agreement is signed, providing for a new central bank and currency.
The Central Bank of Bosnia and Herzegovina is established.
The Convertible Mark (KM) is introduced, pegged 1:1 to the German Deutsche Mark.
With the introduction of the Euro, the peg is switched to 1 EUR = 1.95583 BAM.
Denominations
Banknotes
Coins
Security Features
Quick Facts
- ISO Code
- BAM
- Symbol
- KM
- Numeric Code
- 977
- Subunit
- Fening (1/100)
- Introduced
- 1998-06-22
Central Bank
- Name
- Central Bank of Bosnia and Herzegovina
- Headquarters
- Sarajevo, Bosnia and Herzegovina
- Founded
- 1997
- Current Governor
- Jasmina Selimović (since 2023)
Economic Data
- Reserve Currency Share
- 0.0%
- Forex Volume Share
- 0.0%
- Inflation Rate
- 6.0%
- Interest Rate
- 3.75%
Exchange Rates
What Affects the BAM Exchange Rate?
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