Bosnia and Herzegovina Convertible Mark

Overview

Economy

• Bosnia and Herzegovina is a member of EU candidate, CEFTA, Council of Europe, OSCE, PfP.
• Main industries include: Steel, Coal, Iron ore, Lead, Zinc, Manganese, Bauxite, Aluminum, Motor vehicles, Textiles.
• Bosnia and Herzegovina is part of the World Trade Organization.
• Imports are machinery, equipment, chemicals, fuels, foodstuffs.
• Major exports include metals, clothing, wood products, furniture, electricity.
• GDP: $23.9 billion (2023 est.).
• GDP per capita: $7,263 (2023 est.).
• Unemployment rate: 15.7% (2023 est.).
• Inflation rate: 6.1% (2023 est.).
• Main trading partners: Germany, Croatia, Serbia, Italy, Slovenia, Austria.
• Trade agreements: CEFTA, EU SAA, Various bilateral agreements.

History

• Previous currencies used: Yugoslav dinar, Bosnian dinar, Croatian kuna (in some areas), Serbian dinar (in some areas).
• The convertible mark was introduced on June 22, 1998, replacing the Bosnian dinar. It was established as part of the Dayton Agreement peace process and currency stabilization efforts.
• 1998: BAM introduced, replacing Bosnian dinar
• 1998: Currency board arrangement established with DEM peg
• 2002: Peg switched from DEM to EUR at 1.95583:1
• 2006: New banknote series introduced
• 2009: EU candidate status achieved
• Exchange rate peg: EUR (2002-present) at 1.95583 BAM = 1 EUR.
• Exchange rate peg: DEM (1998-2002).
• Currently pegged to EUR at 1.95583 BAM = 1 EUR.

General Information

• ISO 4217 Code: BAM
• Symbols: BAM/KM
• Currency Subunits: 100 fenings
• Central Bank: Central Bank of Bosnia and Herzegovina
• Monetary Policy: Currency board system maintaining EUR peg. Focus on monetary stability and supporting EU integration process.
• Bills: 10 KM, 20 KM, 50 KM, 100 KM, 200 KM
• Coins: 5 fenings, 10 fenings, 20 fenings, 50 fenings, 1 mark, 2 marks, 5 marks
• USD Exchange Rate: Variable (approximately 1.80 BAM per USD)
• Pegged To: EUR at 1.95583 BAM = 1 EUR
• Capital: Sarajevo
• Population: 3,270,943 (2023 est.)
• Area: 51,197 km²
• Languages: Bosnian (official), Croatian (official), Serbian (official)
• Time Zones: UTC+1 (CET), UTC+2 (CEST in summer)
• Government Type: Federal parliamentary republic
• Head of Government: Council of Ministers Chairman (head of government), Presidency (collective head of state)
• Independence: March 3, 1992 (from Yugoslavia)
• Ethnic Groups: Bosniak 50.1%, Serb 30.8%, Croat 15.4%, Other 2.7%, Not declared 1%
• Religions: Muslim 50.7%, Orthodox 30.7%, Roman Catholic 15.2%, Other 1.2%, Atheist 0.8%, Agnostic 0.3%, Not declared 1.1%
• Literacy Rate: 98.5% (2018 est.)
• Transport: Road networks, Sarajevo International Airport, limited rail system, Neretva and Sava river ports
• Communications: Good telecommunications coverage, 69% internet penetration, 4G networks
• Energy: Coal 47%, Hydroelectric 40%, Natural gas 9%, Other renewables 4%
• Countries Using This Currency: Bosnia and Herzegovina
• Data Sources: Central Bank: Central Bank of Bosnia and Herzegovina (cbbh.ba), Economic Data: Agency for Statistics of Bosnia and Herzegovina, World Bank, IMF, Trade Data: Bosnia and Herzegovina Foreign Trade Chamber, Demographic Data: Agency for Statistics of Bosnia and Herzegovina, Geographic Data: Federal Hydrometeorological Institute, Historical Data: Central Bank archives
• Last Updated: 2025