22 years ago, the Convertible Mark was introduced as a means of payment in Bosnia and Herzegovina

(Patria) - The Convertible Mark was first issued on June 22, 1998. This currency is the legal tender for all public and private obligations and debts in Bosnia and Herzegovina.

The Convertible Mark (KM) became the national currency in Bosnia and Herzegovina on June 22, 1998, with the international abbreviation for the convertible mark being BAM. The initial exchange rate was 1 KM for 1 DM. The German Mark was a very stable currency for a long time, widely used, and a currency that had the trust of the citizens of BiH. Today, the Convertible Mark is pegged to the euro by a decision of the Central Bank of Bosnia and Herzegovina, and each issued banknote is backed by euros.

In the first series, with nominal issue dates of June 22 and July 27, 1998, banknotes were issued in denominations of 50 feninga, 1 mark, 5, 10, 20, 50, and 100 marks. The banknotes are recognizable by the fact that on the face of the banknote, in the lower right corner, below the signature of the Governor of the Central Bank of BiH, there is no year of issue.