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BOSNIA & HERZEGOVINA (from 1997) - convertible mark [BAM]

1 marka = 100 feninga

Announcing independence of Bosnia and Herzegovina in 1992 triggered a domestic war. Currency circulation was really limited, but Bosnians issued Bosnian dinar [BAD]. At the moment of issuing the first banknotes (which were counter-stamped Yugoslavian banknotes) Bosnian dinar was equal to the reformed Yugoslavian dinar (Serbian actually) [YUR]. After two years of domestic war Bosnian dinar was so devalued that a new dinar [BAN] was introduced exchangable into 10000 BAD. The new dinar exactly like the old one was valid only on territories inhabitated by Bosnians. Serbian citizens were using Yugoslavian dinars [YUR, YUO, YUG and YUM] and the Croatians were using kunas [HDR]. All these currencies were anyway useless for people living under gun-fire, because they trusted only stable currency of German mark [DEM]. The Dayton Agreement, which negotiated the end of domestic war, included also decision on creation of the new currency in Bosnia based on German marks already held in Bosnian hands. Thus on August 11, 1997 a convertible mark [BAM] was issued equal to German mark. After Germans had entered the euro [EUR] zone, the convertible mark is holding the same fixed exchange rate to euro as German marks, which is 1.95583 BAM for 1 EUR.

last update: 14 XI 2014

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