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Convertible mark

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Convertible mark

Bosnia and Herzegovina convertible mark
konvertibilna marka (Bosnian) (Croatian) (Serbian)
конвертибилна марка (Serbian)
ISO 4217 code BAM
Central bank Central Bank of Bosnia and Herzegovina
 Website www.cbbh.ba
User(s) Bosnia and Herzegovina Bosnia and Herzegovina
Inflation -0.4%
 Source Pegged with euro = 1.95583 convertible marks
Subunit
 1/100 fening
Symbol KM
Plural The language(s) of this currency belong(s) to the Slavic languages. There is more than one way to construct plural forms.
Coins 5, 10, 20, 50 feninga, 1, 2, 5 maraka
Banknotes 10, 20, 50, 100, 200 maraka

The Bosnia and Herzegovina convertible mark (Bosnian, Croatian and Serbian Latin: konvertibilna marka, Serbian Cyrillic: конвертибилна марка) (sign: KM; code: BAM) is the currency of Bosnia and Herzegovina. It is divided into 100 fenings (Bosnian, Croatian and Serbian Latin: feninga, Serbian Cyrillic: фенинга). The names derive from German Mark and Pfennig, hence the occasional local spelling of the subdivision as pfeniga. Its ISO 4217 code is BAM; it is locally abbreviated KM (Latin) or КМ (Cyrillic).

History

The convertible mark was established by the 1995 Dayton Agreement and replaced the Bosnia and Herzegovina dinar, Croatian kuna and Republika Srpska dinar as the currency of Bosnia and Herzegovina in 1998. Mark refers to the German mark, the currency to which it was pegged at par. Since the replacement of the German mark by the euro in 2002, the Bosnian convertible mark uses the same fixed exchange rate to euro that the German mark has (that is, 1 EUR = 1.95583 BAM).

Plurals

Bosnian, Croatian and Serbian have a complicated case system. In combination with the numbers 2, 3, and 4, nouns use the paucal form, which is marke in this case. In combination with numbers 5 or more, nouns use the genitive plural, or maraka. As for the fening, the paucal is feninga with a short unstressed a, whereas the genitive plural is feninga with a long unstressed a.

These matters should be noted when one uses the local names in English. For example, "ten feningas" is incorrect as the final "a" in "feninga" already indicates the plural. The Central Bank of Bosnia and Herzegovina (CBBH) uses "fenings" as the English plural.[1] Likewise, "ten marks" is correct, not "ten marakas".

Coins

In December 1998, coins were introduced in denominations of 10, 20 & 50 fenings. Coins of 1,2 and 5 marka were introduced later. The coins were designed by Bosnian designer Kenan Zekic[2] and minted at the Royal mint in London.

Coins of the marka (1998–present)[3]
Image Value Technical parameters Description Date of
Diameter Mass Composition Edge Obverse Reverse minting issue withdrawal lapse
[2] 5 fening 18 mm 2,66g nickel-plated steel reeded Map of Bosnia and Herzegovina, country name, denomination Flag of Bosnia and Herzegovina, country name, year 2005 5 January 2006 Current
[3] 10 fening 20 mm 3.9 g copper-plated steel plain Map of Bosnia and Herzegovina, country name, denomination Flag of Bosnia and Herzegovina, country name, year 1998
2004
9 December 1998 Current
[4] 20 fening 22 mm 4,5 g reeded 1998
2004
[5] 50 fening 24 mm 5,15 g 1998
[6] 1 marka 23,25 mm 4,95 g nickel-plated steel milled and smooth denomination, country name, indented and inverted triangles* Coat of arms of Bosnia and Herzegovina 2000
2003
2006
31 July 2000 Current
[7] 2 marka 25,75 mm 6,9 g cupro-nickel (inner ring),
golden 5.5% nickel brass combination (outer ring)
peace dove 2000
2002
2003
[8] 5 marka 30 mm 10,35 g nickel-brass (inner ring),
copper-nickel (outer ring)
milled 2005 5 January 2006
These images are to scale at 2.5 pixels per millimetre. For table standards, see the coin specification table.
  • The triangles are intended for the visually impaired.

Banknotes

In 1998, notes were introduced in denominations of 50 fenings, 1 mark, 5, 10, 20, 50 and 100 marks. 200-mark notes were added in 2002, whilst the 50-fening note was withdrawn from circulation on March 31, 2003.

The banknotes are issued by the Central Bank of Bosnia Herzegovina, with distinct designs for the Federation of Bosnia and Herzegovina and the Republika Srpska, except for the 200-mark note. All current notes are valid throughout the country.

The withdrawal of KM 5 banknote from circulation was recommended by the CBBH Governing Board in March 2009.[4] The KM 5 banknote was legal tender until 31 December 2009 and commercial banks continued to accept KM 5 banknotes until 31 March 2010. The KM 5 coin remains in circulation.

Current BAM exchange rates
From Google Finance: HRK
From Yahoo! Finance: HRK
From XE.com: HRK
From OANDA.com: HRK
From fxtop.com: HRK

See also

References

External links

  • Current circulating currency
Preceded by:
Bosnia and Herzegovina dinar
Location: B&H except Republika Srpska
Reason: inflation
Ratio: 1 convertible mark = 100 Dinar
Currency of Bosnia and Herzegovina
1998 –
Succeeded by:
Current
Preceded by:
Yugoslav new dinar
Location: Republika Srpska
Reason: Dayton Agreement
Ratio: 1 convertible mark = 1 Deutsche Mark

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