Bosnia and Herzegovina Convertible Mark
The convertible mark provides Bosnia and Herzegovina with one currency whose parallel banknote designs were created to function equally across the entire state.
Quick Facts
Country: Bosnia and Herzegovina
Code: BAM
Symbol: KM
System: Decimal (1 Convertible Mark = 100 Feninga)
Status: In circulation
The Story of the Bosnia and Herzegovina Convertible Mark
The Bosnia and Herzegovina convertible mark entered circulation on 22 June 1998. The first banknotes were 50 feninga and 1, 5 and 10 convertible marks, followed by 20, 50 and 100 marks in July 1998 and 200 marks in 2002.
The currency was introduced after a period in which several different monetary units circulated within the country. Its name reflected convertibility at parity with the Deutsche Mark, which provided the original reference for the new national unit.
The Central Bank of Bosnia and Herzegovina issues the currency under a currency-board arrangement. The bank may issue convertible marks only against full backing in convertible foreign-currency reserves, creating a rules-based monetary structure rather than a discretionary national issue.
After the euro replaced the Deutsche Mark, the legal conversion rate became EUR 1 = KM 1.95583. The convertible mark remains Bosnia and Herzegovina’s current currency under ISO code BAM and is divided into 100 feninga.
Design & Symbolism
Most convertible-mark banknote denominations were created in two design versions: one associated with the Federation of Bosnia and Herzegovina and one with Republika Srpska. The versions differ in portraits, reverse subjects and the order of Latin and Cyrillic inscriptions.
Despite these visual differences, the notes share the same dimensions, colours and security structure for each denomination. Both versions are legal tender and circulate equally throughout Bosnia and Herzegovina.
Literary and cultural figures dominate the portrait programme, while manuscripts, monuments and landscapes extend the historical narrative on the reverse. The 200-mark note uses one common design for the whole country rather than two parallel versions.
This dual-design system makes institutional unity visible through consistent technical specifications while preserving more than one cultural presentation within the same currency.
For collectors
The convertible mark can be collected by denomination, year, signature and design version. For the 10, 20, 50 and 100 mark denominations, specialists may seek both Federation and Republika Srpska versions.
Collectors should not treat the two versions as separate currencies. They belong to one BAM monetary system and were designed to circulate on equal terms across the country.
Introduced in 1998 and fixed at EUR 1 = KM 1.95583; the convertible mark remains in circulation.