BAMBosnia and Herzegovina Convertible MarkBosnia and Herzegovina Convertible Mark (BAM)
The Bosnia and Herzegovina convertible mark is the national currency of Bosnia and Herzegovina. The Central Bank of Bosnia and Herzegovina operates within a currency-board model, and BAM is the ISO code used to distinguish the convertible mark in international payment and exchange-rate systems. The mark is divided into 100 fenings. Its name is often shortened locally to KM, while BAM is the unambiguous code used by financial software and cross-border records. This distinction is useful for visitors and businesses because the local abbreviation can look different from the internationally recognized code without describing a different currency.
- ISO code
- BAM
- Symbol
- KM
- Region
- Europe
- Currency type
- Fiat currency
- Exchange system
- Bosnia and Herzegovina Convertible Mark operates under the reviewed currency-board arrangement fixed to the euro at 1 eur = 1.955830 bam arrangement, with Euro.
- Last reviewed
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Quick facts
BAM at a glance
Currency profile
How BAM works
The Bosnia and Herzegovina convertible mark is the national currency of Bosnia and Herzegovina. The Central Bank of Bosnia and Herzegovina operates within a currency-board model, and BAM is the ISO code used to distinguish the convertible mark in international payment and exchange-rate systems. The mark is divided into 100 fenings. Its name is often shortened locally to KM, while BAM is the unambiguous code used by financial software and cross-border records. This distinction is useful for visitors and businesses because the local abbreviation can look different from the internationally recognized code without describing a different currency.
Central Bank of Bosnia and Herzegovina administers BAM within a currency-board arrangement fixed to the euro at 1 eur = 1.955830 bam system.
- Introduced in 1998 as the currency of Bosnia and Herzegovina.
- The reviewed cash profile records BAM 10, BAM 20, BAM 50, BAM 100, BAM 200 for banknotes and 5, 10, 20 and 50 fenings, BAM 1, BAM 2 for coins.
Context
Why this currency matters
Bosnia and Herzegovina's currency arrangement is unusually rule-based. The Central Bank explains that the convertible mark is fixed to the euro at 1 EUR = 1.955830 BAM, with the currency-board law defining the official relationship and requiring adequate foreign-exchange backing. That is a fixed relationship to the euro, not a promise that BAM will have a fixed value against every other currency; the euro itself moves against the dollar, pound, yen and other units. The central bank also issues and manages BAM notes and coins used in domestic payments. When comparing BAM, keep the direction, date and anchor currency visible rather than treating every displayed number as an independently floating market quote. The convertible mark is a useful example of why an anchor relationship should be stated precisely. A euro reference explains the currency board, but it does not make BAM a euro-denominated currency or remove the need for a dated conversion. The code KM may appear locally, while BAM remains the international identifier in systems and records.
Monetary framework
Exchange arrangement
Bosnia and Herzegovina Convertible Mark operates under the reviewed currency-board arrangement fixed to the euro at 1 eur = 1.955830 bam arrangement, with Euro.
CurrencyHub shows daily reference rates. Banks, card networks, ATMs and transfer providers may apply different exchange rates, fees or spreads.
History timeline
Key dates for BAM
Currency-board framework agreed
The post-war monetary framework provided for a central bank operating under currency-board rules.
Central Bank of Bosnia and HerzegovinaConvertible mark introduced
BAM entered circulation as the common currency of Bosnia and Herzegovina.
Central Bank of Bosnia and HerzegovinaEuro became the anchor
The euro replaced the Deutsche Mark as the reference currency while preserving the fixed conversion relationship.
Central Bank of Bosnia and Herzegovina
Usage and economy
How BAM is used
- BAM is used for prices, salaries, taxes and settlement throughout Bosnia and Herzegovina.
- Cross-border comparisons focus on EUR and neighboring Balkan currencies because of the fixed anchor and regional commerce.
Banknotes and coins
BAM currency units
The issuing authority documents the reviewed BAM banknote denominations used in the current cash system.
The issuing authority documents the circulation coin system for BAM.
One Bosnia and Herzegovina Convertible Mark unit is recorded with 2 decimal places and uses Fening as its minor unit.
Related currencies
Currency relationships
Explore currencies connected through regional use, trade comparisons or monetary relationships.
FAQ
BAM questions
Is the convertible mark fixed to the euro?
Yes. The Central Bank of Bosnia and Herzegovina describes a currency-board arrangement with an official rate of 1 EUR = 1.955830 BAM.
Why can BAM still move against USD?
The fixed relationship is with the euro. Since the euro changes against the U.S. dollar and other currencies, BAM can change against those currencies through the cross-rate.
What are fenings?
Fenings are the smaller unit of the convertible mark. One BAM is divided into 100 fenings.
Sources
Data and editorial review
Rate source: Frankfurter
Last reviewed:
Currency identity and cash information is checked against central-bank, government, ISO and official international sources.