The convertible mark was established by the 1995 Dayton Agreement. It replaced the Bosnia and Herzegovina dinar, Croatian kuna and Republika Srpska dinar as the single currency of Bosnia and Herzegovina in 1998. Mark refers to the German mark, the currency to which it was pegged at par.
Currency History: Bosnia and Herzegovina. The banknotes of Bosnia and Herzegovina have images of famous writers, in a bid to avoid controversy by putting a polarizing person’s face. The notes are issued in two different versions to reflect the different cultural identities of both its states after the civil war: The Serb Republic and Croat ...
The Federation of Bosnia and Herzegovina covers 51% of Bosnia and Herzegovina's total area, while Republika Srpska covers 49%. The entities, based largely on the territories held by the two warring sides at the time, were formally established by the Dayton Agreement in 1995 because of the tremendous changes in Bosnia and Herzegovina's ethnic ...
The Currency of Bosnia and Herzegovina is the Bosnia and Herzegovina convertible mark (BAM) Bosnia and Herzegovina convertible mark (BAM) is the official currency of Bosnia and Herzegovina. It was established by the 1995 Dayton Agreement. The BAM was pegged to the German Mark at par and divided into 100 pfennigs.
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- 50 Feninga – Фенинга
- 1 Mark – Марка
- 5 Mark – Марака
- 10 Mark – Марака
- 20 Mark – Марака
- 50 Mark – Марака
- 100 Mark – Марака
- 200 Mark – Марака
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Valued at only 50 feninga, this bill was the smallest denomination bill introduced in the 1998 KM series. With a blue and purple color scheme, these handsome notes circulated for only five years before their purchasing power became negligible. Consequently, the Central Bank pulled the 50 feninga bill from circulation in 2003 and replaced it with a copper-plated steel coin. The face of the bill printed in the Federation depicts Skender Kulenović, a poet, novelist and dramatist who wrote the important essay From the Emerald Una / Iz smaragda Une and the back of the bill shows a fragment from Zgošća Stećak, a medieval tombstone. The Republika Srpska bill portrays the Yugoslav novelist Branko Ćopić, whose book Heretic Story / Jeretička pričacriticized the Socialist Yugoslav regime, and a traditional house and book on the back.
The one Mark bill lasted 10 years in circulation before being retired. Following the example of the other bills, this denomination depicts two famous writers, Ivan Frano Jukić on the Federation bill and Ivo Andrićon the Republika bill. Jukić, a Franciscan monk who in 1850 wrote Bosnia’s first European style constitutional document (Želje i molbe kristjanah u Bosni i Hercegovini, koje ponizno prikazuju njegovom veličanstvu sretnovladajućem sultanu Abdul-Medžidu), fought tirelessly against the Turkish occupation. Andrić wrote the famous book The Bridge on the Drina, which deals with life under the Turkish occupation. On the reverse of the Federation and Republika bills are a fragment of the monumental medieval tombstone Stolac Stećak and the Bridge on River Drinarespectively.
Legal tender from 1998 until December 31, 2009, the 5 Mark bill was accepted by commercial banks until March 31, 2010. Similar to the later 200 Mark bill, the 5 Mark denomination only had one series for both the Federation and Republika. The face depicted Meša Selimović, whose highly successful novel Death and the Dervish / Derviš I smrtcritiqued communist Yugoslavia through an imagined story set during the Turkish occupation. The back shows a simple forest vignette.
The smallest denomination bill in circulation today, both 10 Mark bill designs follow the pattern of depicting famous writers on the face. Mehmedalija Mak Dizdar, whose poetry ranks among some of the most important Bosnian poetry of the 20th century, is shown on the Federation bill, while Aleksa Šantić, who wrote poetry about the suffering of the Serb people, is on the Republika bill. The Križevićitombstone is shown on the back of the Federation bill and a simple loaf of bread on the Republika bill.
Antun Branko Šimić, an important Croatian poet, appears on the face of the Federation 20 Mark bill and a close up of the Radimljatombstone on the back. The Republika Srpska bill portrays the famous Bosnian Serb poet and guslar musician Filip Višnjić. The back of the Republika bill depicts a Gusle similar to the one played by Višnjić.
A striking red color, the 50 Mark bill is the workhorse of the Bosnian economy, and as such millions of people handle these bills every day. The writer Musa Ćazim Ćatić appears on the Federation bill while the strident anti-Nazi poet and diplomat Jovan Dučićis depicted on the Republika bill. As on the other Federation bills, the 50 Mark’s back depicts the Zgošća Tombstone and the Republika bill a pen, spectacles, and a book.
While not the largest circulating bill since the introduction of the 200 Mark in 2002, the 100 Mark still widely circulates. The Federation version shows the Bosnian Croat poet Nikola Šop and another example of the famous Bosnian tombstones, the Zgošća Stećak. Meanwhile, the Republika version depicts Petar Kočićwho was the most important Bosnian Serb writer of the Austrian-Hungarian period on the face. Another design duplication occurs on the back of the Republika 100 Mark bill where a pen, eyeglasses, and book similar to the 50 Mark bill appears.
While the 200 Mark bill has only one design for both entities (like the discontinued 5 Mark bill), there is a more interesting aspect to this bill: the 200 Mark has almost the same design as the one Mark bill from the Republika Srbska, despite the fact that their circulation overlapped from 2002 to 2008. They both depict the writer Ivo Andrić on the front and the Bridge on River Drina on the back. * * *
“Bosnia and Herzegovina“, Encyclopædia Britannica. https://enacademic.com/dic.nsf/enwiki/11576130 https://www.cbbh.ba/Content/Read/19 O’Brien. O’Brien Currency Guide: Bosnia & Herzegovina (Convertible Mark). Old Currency Exchange. (April 30, 2015). THE CONSTITUTION OF THE REPUBLIC OF SRPSKA. Retrieved September 10, 2020. Coats, Warren. One Currency for Bosnia: Creating the Central Bank of Bosnia and Herzegovina. Jameson Books, Inc. (2007).
Tyler Rossi is currently a graduate student at Brandeis University’s Heller School of Social Policy and Management and studies Sustainable International Development and Conflict Resolution. Before graduating from American University in Washington D.C., he worked for Save the Children creating and running international development projects. Recently, Tyler returned to the US from living abroad in the Republic of North Macedonia, where he served as a Peace Corps volunteer for three years. Tyler is an avid numismatist and for over a decade has cultivated a deep interest in pre-modern and ancient coinage from around the world. He is a member of the American Numismatic Association (ANA).
- Tyler Rossi
In Bosnia and Herzegovina national currencyIt is the Convertible Mark (Konvertibilna marka), abbreviated name or KM YOU. These names originated from the brand of German origin, and Fanning, which originally was pegged currency is a ratio of 1: 1.
This answer is all good: answer to Why is the currency of Bosnia & Herzegovina called 'Convertible Mark'? Anyway, I’d like to add the reason for this is that B&H isn’t a stable country, if it had its own money to has its own value based on its own...
Keywords: currency board, the conditions of establishing a system, measuring the effectiveness of the currency board, currency board in Bosnia anad Herzegovina 1. INTRODUCTION Currency board system in the 50 - ty years of the last century was extended in some seventy countries, and this is his peak.
Konvertibilna marka (KM) or Convertible Mark in English is the currency used in Bosnia and Herzegovina. It’s about 4x more valuable than the Croatian Kuna (KN), but less worthy than your average currency like the British Pound or the American Doll...