Bosnian Currency — The Convertible Mark (BAM) in 2026

Q: What is the currency of Bosnia and Herzegovina?

Bosnia and Herzegovina's currency is the convertible mark (Latin: konvertibilna marka , Cyrillic: конвертибилна марка ; symbol KM , ISO 4217 code BAM ). It has been BiH's currency since 22 June 1998.

Q: Who manages Bosnian monetary policy?

The Central Bank of Bosnia and Herzegovina (CBBH) — but only within the constraints of the currency-board arrangement. CBBH cannot set an independent policy rate; its job is to ensure every BAM in circulation is backed by euro reserves, maintaining the 1.95583 peg. Governor: Jasmina Selimović since 2021.

Key Facts: The Convertible Mark

ISO 4217 code: BAM · Symbol: KM. Full name konvertibilna marka (Latin) / конвертибилна марка (Cyrillic). Subdivided into 100 fening.
Pegged to EUR: 1 EUR = 1.95583 BAM. A currency board established in 1997 — the same fixed rate Germany's Deutsche Mark had to the euro. The peg has been unbroken for 28 years.
Central bank: Central Bank of Bosnia & Herzegovina. Sarajevo-based, est. 1997. Governor Jasmina Selimović (since 2021). Cannot set independent policy rate — operates under the currency-board rules.
Banknotes exist in two parallel versions. Each denomination has a Latin-script version for the Federation of BiH and a Cyrillic-script version for Republika Srpska — both fully interchangeable nationwide.
EU candidate since 2022. Not in the Eurozone and not in ERM II. Because of the currency-board peg, the conversion rate to euro is essentially pre-set at 1.95583 KM = 1 EUR whenever adoption eventually happens.

What Is the Currency of Bosnia and Herzegovina?

Bosnia and Herzegovina’s currency is the convertible mark (konvertibilna marka in Latin, конвертибилна марка in Cyrillic; symbol KM, ISO 4217 code BAM). It has been BiH’s currency since 22 June 1998, two and a half years after the Dayton Peace Agreement ended the Bosnian War. Subdivided into 100 fening.

The convertible mark is issued by the Central Bank of Bosnia and Herzegovina (CBBH), established 1997. The currency is managed under a currency-board arrangement: every BAM in circulation is fully backed by euro reserves, and the exchange rate is fixed at 1 EUR = 1.95583 BAM — the same conversion the Deutsche Mark had to the euro in 1999. The peg has never been adjusted.

Euro to US Dollar — 1-Year Chart

Because the convertible mark is rigidly pegged to the euro at 1.95583 BAM = 1 EUR, the BAM/USD rate simply mirrors EUR/USD multiplied by 1.95583. The chart below shows EUR/USD directly; the BAM/USD rate derives from it.

Euro (EUR) to US Dollar — 1 Year
	Aug 20	Aug 24	Aug 26	Aug 28	Sep 01	Sep 03	Sep 07	Sep 09	Sep 11	Sep 15	Sep 17	Sep 21	Sep 23	Sep 25	Sep 29	Oct 01	Oct 05	Oct 07	Oct 09	Oct 13	Oct 15	Oct 19	Oct 21	Oct 23	Oct 28	Oct 30	Nov 03	Nov 05	Nov 07	Nov 11	Nov 13	Nov 17	Nov 19	Nov 21	Nov 25	Nov 27	Dec 01	Dec 03	Dec 05	Dec 09	Dec 11	Dec 15	Dec 17	Dec 19	Dec 23	Dec 26	Dec 30	Jan 02	Jan 06	Jan 08	Jan 12	Jan 14	Jan 16	Jan 20	Jan 22	Jan 26	Jan 28	Jan 30	Feb 03	Feb 05	Feb 09	Feb 11	Feb 13	Feb 17	Feb 19	Feb 23	Feb 25	Feb 27	Mar 03	Mar 05	Mar 09	Mar 11	Mar 13	Mar 17	Mar 19	Mar 23	Mar 25	Mar 27	Mar 30	Apr 01	Apr 05	Apr 07	Apr 09	Apr 13	Apr 15	Apr 19	Apr 21	Apr 23	Apr 27	Apr 29	May 03	May 05	May 07	May 11	May 13	May 17	May 19	May 21	May 25	May 27	May 31	Jun 02	Jun 04	Jun 08	Jun 10	Jun 14	Jun 16	Jun 18	Jun 22	Jun 24	Jun 28	Jun 30	Jul 02	Jul 06	Jul 08	Jul 12	Jul 14	Jul 16	Jul 20	Jul 22	Jul 26	Jul 28	Jul 30	Aug 03	Aug 05	Aug 09	Aug 11	Aug 13	Aug 17	Aug 19	Aug 21
USD per EUR	1.17	1.17	1.16	1.17	1.17	1.17	1.17	1.17	1.17	1.18	1.18	1.17	1.18	1.17	1.17	1.17	1.17	1.17	1.16	1.16	1.16	1.17	1.16	1.16	1.17	1.16	1.15	1.15	1.15	1.16	1.16	1.16	1.16	1.15	1.15	1.16	1.16	1.16	1.16	1.16	1.17	1.17	1.17	1.17	1.18	1.18	1.18	1.18	1.17	1.17	1.16	1.16	1.16	1.16	1.17	1.19	1.2	1.2	1.18	1.18	1.18	1.19	1.19	1.18	1.18	1.18	1.18	1.18	1.17	1.16	1.15	1.16	1.15	1.15	1.15	1.16	1.16	1.15	1.15	1.16	1.15	1.17	1.17	1.18	1.18	1.17	1.17	1.17	1.17	1.17	1.17	1.17	1.17	1.18	1.17	1.16	1.16	1.16	1.16	1.16	1.16	1.16	1.16	1.15	1.15	1.16	1.16	1.15	1.14	1.14	1.14	1.14	1.14	1.14	1.14	1.14	1.14	1.14	1.14	1.14	1.14	1.14	1.15	1.15	1.16	1.16	1.15	1.15	1.16	1.17	1.17

Over the past 12 months EUR/USD has moved in a 1.10–1.18 range. The implied BAM/USD has therefore moved between roughly 1.66 and 1.78 BAM per USD. Since Bosnia’s currency board means CBBH does not set an independent monetary policy, the relevant policy context is the ECB’s 2.00% deposit rate.

Banknotes and Coins

Bosnia’s banknotes are unique in European currency design: each denomination is issued in two parallel versions — one with Latin script featuring Federation of BiH figures, one with Cyrillic script featuring Republika Srpska figures. Both versions are fully interchangeable and legal tender across the whole country.

Denomination	Figure / Motif	Context	Colour
10 KM	Mak Dizdar (Latin) / Aleksa Šantić (Cyrillic)	Both 20th-c. Bosnian poets	Purple
20 KM	Antun Branko Šimić (Latin) / Filip Višnjić (Cyrillic)	Poet / Serbian-Bosnian epic singer	Orange
50 KM	Musa Ćazim Ćatić (Latin) / Jovan Dučić (Cyrillic)	Both poets	Brown
100 KM	Nikola Šop (Latin) / Petar Kočić (Cyrillic)	Poet / writer and political figure	Blue-green
200 KM	Ivo Andrić	Nobel laureate, 1961 — SAME on both versions	Red-pink

Convertible mark banknotes — Latin and Cyrillic versions where they differ.

Coins come in five denominations, all with the official coat of arms of Bosnia and Herzegovina on the obverse and a common motif on the reverse.

Denomination	Composition & Design	Notes
5 fening	Brass-plated steel	Since 1998
10 fening	Brass-plated steel	Since 1998
20 fening	Brass-plated steel	Since 1998
50 fening	Cupro-nickel	Since 1998
1 KM, 2 KM, 5 KM	Bi-metallic	Since 2000

Bosnian convertible mark coins in circulation.

Detailed editorial infographic of all banknotes and coins of Bosnian Currency — The Convertible Mark (BAM) in 2026, showing each denomination's front, back, size, main color and motif, plus all circulating coins with their physical specifications. Portrait layout, editorial magazine style. — All notes and coins of Bosnian Currency — The Convertible Mark (BAM) in 2026 — denominations, motifs, and physical specifications.

History of The Convertible Mark

The convertible mark was created from scratch in 1997 as part of the post-Dayton reconstruction of Bosnia’s monetary system. Before it, Bosnia had no single national currency — Federation of BiH used the Bosnian dinar, Republika Srpska used the Republika Srpska dinar (also called the srpski dinar), and the German mark circulated widely. The currency-board design was chosen for credibility and has held for nearly three decades.

Year	Event
1992	Bosnia and Herzegovina declares independence 3 March.
1992–1995	Bosnian War; multiple parallel currencies circulate; German mark widely used for stability.
1995	Dayton Peace Agreement signed 14 December, establishes post-war BiH state.
1997	Central Bank of Bosnia and Herzegovina established; currency-board law adopted.
1998	22 June: convertible mark (KM) introduced, replacing the Bosnian dinar and Republika Srpska dinar at varying rates.
2002	Peg re-expressed from DEM to EUR at the same rate (1 EUR = 1.95583 KM).
2021	Jasmina Selimović becomes Governor of CBBH.
2022	Bosnia and Herzegovina granted EU candidate status.
2026	Peg enters its 28th year unbroken — one of the world’s longest continuous currency-board pegs.

Key milestones in Bosnian convertible mark history, 1992–2026.

The Bosnian Economy and the Convertible Mark

Bosnia and Herzegovina is a small Western-Balkan economy — population ~3.2 million, GDP around $28 billion nominal. The economy is concentrated in services, light manufacturing (automotive parts, footwear, wood products), and remittances from the Bosnian diaspora in Germany, Austria, Switzerland, and Scandinavia, which together account for about 8% of GDP. Tourism has grown rapidly since 2015, especially in Mostar, Sarajevo, and the Dinaric mountains.

The currency-board arrangement means CBBH has no independent monetary policy. Its mandate is to maintain the fixed BAM/EUR peg by ensuring that every BAM issued is backed by euro reserves. The central bank’s ‘policy rate’ is simply the ECB’s rate transmitted through the peg. Inflation therefore tracks the euro area closely; 2026 Bosnian inflation is forecast around 2.5–3%, close to the ECB’s 2% target.

Using Convertible Marks in Bosnia

Cash is still dominant in Bosnia, though card acceptance has improved. In Sarajevo, Mostar, and Banja Luka, Visa and Mastercard work in chain cafés, larger restaurants, supermarkets, and hotels. Smaller family-run places, village shops, and taxis often accept only cash. Euros are widely accepted informally — especially in tourist areas — though change comes in marks.

Typical prices in KM (2026): espresso in a Sarajevo café 2–3 KM; a ćevapi dinner 10–18 KM; a meal in a mid-range restaurant 20–40 KM; a pint of beer 4–6 KM; a mid-range Sarajevo hotel room 100–180 KM. ATMs at UniCredit Bank, Raiffeisen Bank, and Sparkasse Bank are widespread. Euros can also be withdrawn from some ATMs, but locals mostly use KM.

The Convertible Mark in Regional Context

Bosnia sits in the Western Balkans with a patchwork of monetary regimes. Three of Bosnia’s neighbours use the euro in different ways: Croatia (full Eurosystem since 2023), Montenegro and Kosovo (unilateral euro), while Serbia and North Macedonia retain their own currencies.

Country	Code	Regime	Inflation	Policy rate
🇧🇦 Bosnia and Herzegovina	BAM	Currency board to EUR	~2.5%	2.00% (via peg)
🇭🇷 Croatia	EUR	Eurosystem	3.5%	2.00%
🇷🇸 Serbia	RSD	Managed float	~3–4%	5.75%
🇲🇪 Montenegro	EUR (unilateral)	Uses euro	~3%	2.00% (ECB)
🇲🇰 North Macedonia	MKD	De facto EUR peg	~2%	~6%
🇦🇱 Albania	ALL	Managed float	2.4%	2.50%

Bosnia and its Western Balkan neighbours.

Frequently Asked Questions

What is the currency of Bosnia and Herzegovina?

Bosnia and Herzegovina’s currency is the convertible mark (Latin: konvertibilna marka, Cyrillic: конвертибилна марка; symbol KM, ISO 4217 code BAM). It has been BiH’s currency since 22 June 1998.

Why is it called the ‘convertible’ mark?

The name reflects the currency’s defining feature: under the 1997 currency-board law, each BAM is freely convertible to euros at the fixed rate 1 EUR = 1.95583 BAM. The name was chosen to signal credibility after the instability of wartime currencies. The ‘mark’ part honours the Deutsche Mark, which had been the de facto stable currency in Bosnia during and after the war.

Is BiH in the Eurozone?

No. Bosnia and Herzegovina is not an EU member — it is an EU candidate since December 2022. It is not in ERM II. However, because of its currency-board peg, the convertible mark’s rate to the euro is already fixed at 1.95583, so euro adoption if and when it happens would be at that same rate with no additional exchange-rate risk.

Who manages Bosnian monetary policy?

The Central Bank of Bosnia and Herzegovina (CBBH) — but only within the constraints of the currency-board arrangement. CBBH cannot set an independent policy rate; its job is to ensure every BAM in circulation is backed by euro reserves, maintaining the 1.95583 peg. Governor: Jasmina Selimović since 2021.

How many marks is one US dollar worth?

Because BAM is pegged to EUR at 1.95583, the BAM/USD rate mirrors EUR/USD × 1.95583. At the latest close with EUR/USD ≈ 1.18, 1 USD ≈ 1.66 BAM. The rate fluctuates only with EUR/USD.

Why are there two versions of each Bosnian banknote?

Because BiH is a federation of two entities — the Federation of Bosnia and Herzegovina (majority Bosniak and Croat) and Republika Srpska (majority Serb). The 1995 Dayton Agreement required the banknotes to reflect this balance. Each denomination from 10 KM to 100 KM is issued in two parallel versions: one in Latin script featuring Federation-associated figures (mostly poets from Bosniak and Croat traditions), one in Cyrillic script featuring RS-associated figures. Both are fully interchangeable, legal tender across the whole country. The 200 KM note, introduced later, carries the same design on both versions — Ivo Andrić, the only Nobel laureate from former Yugoslavia.

Can I use euros in Bosnia?

Yes, quite often — especially in Mostar, Sarajevo’s old town, and around popular tourist sites. Many hotels, restaurants, and tour operators accept euros informally. Change is usually given in KM at the peg rate (1 EUR = 1.95583 BAM), so there is no meaningful exchange-rate loss either way.