What is the currency in Bosnia?

The currency of Bosnia and Herzegovina is the Bosnia Herzegovina convertible mark, abbreviated as BAM. 

The official Bosnia and Herzegovina currency is the Bosnia Herzegovina convertible mark (BAM), the country’s official money used across both the Federation of Bosnia and Herzegovina and Republika Srpska.

Its symbol is “KM”, which stands for “konvertibilna marka”. The pronunciation is similar to the English word “convertible mark”.

Bosnia and Herzegovina has three official languages – Bosnian, Croatian, and Serbian, so you may see the Bosnia currency name written slightly differently depending on the region.

The Bosnia currency symbol is KM, short for konvertibilna marka, and it’s commonly displayed on price tags in shops, cafes, and hotels.

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A brief history of Bosnia and Herzegovina currency

The history of currency in Bosnia and Herzegovina is quite interesting, reflecting the region’s complex history and political changes. Here’s an overview:

Ottoman era (15th century – 1878)

During Ottoman rule, various forms of currency circulated in Bosnia and Herzegovina. This includes gold and silver coins like the Ottoman Lira.

Austro-Hungarian period (1878 – 1918)

When the Austro-Hungarian Empire annexed Bosnia and Herzegovina, the Austro-Hungarian Krone became the official currency.

Kingdom of Yugoslavia (1918 – 1941)

After World War I, Bosnia and Herzegovina became part of the Kingdom of Serbs, Croats, and Slovenes (later Yugoslavia). The Yugoslav Dinar was introduced.

World War II (1941 – 1945)

During World War II, various currencies circulated, including the Independent State of Croatia Kuna, in areas under Croatian control.

Socialist Yugoslavia (1945 – 1992)

After the war, Bosnia and Herzegovina rejoined Yugoslavia, and the Yugoslav Dinar was reinstated.

Bosnian war and early Independence (1992 – 1998)

The early years of independence after the breakup of Yugoslavia were marked by economic turmoil. Initially, the Yugoslav Dinar was used, but hyperinflation soon rendered it obsolete.

The Bosnian Dinar was introduced in 1992, soon after independence from Yugoslavia, but it was quickly replaced due to extreme inflation.

The Croatian Kuna and Serbian Dinar followed in their respective areas of influence.

Introduction of the convertible mark (1998 – present) 

The Dayton Agreement in 1995 introduced the Bosnian convertible mark (BAM) as legal tender in Bosnia in 1998. Designed to replace the multiple currencies circulating in the region. 

Since 1998, the central bank of Bosnia has managed the peg of the Bosnia and Herzegovina convertible mark to the German mark, and later to the euro, ensuring stable conversion rates that give travellers confidence when handling money. 

The convertible mark’s design reflects the diverse cultural and historical heritage of Bosnia and Herzegovina. 

Each banknote and coin often depicts important historical figures and landmarks, symbolising the country’s rich past and diverse culture.

Whether you’re exploring Sarajevo, the capital city, or venturing into the Bosnian countryside, you’ll find that the Bosnia and Herzegovina convertible mark is the universally accepted form of payment.

Bosnia currency notes    

The Bosnian convertible mark (BAM) features a range of visually distinctive and historically significant banknotes in various denominations.

Each denomination has its own unique design, featuring important figures, architecture, and motifs from Bosnian history and culture. 

Here’s a detailed look at the current banknotes:

10 BAM note:

• Front: Portrait of Anto Kovačević, a Bosnian Croat writer and playwright.
• Back: Depicts a scene from the play “Hasanaginica,” a well-known Bosnian ballad.
• Colour: Predominantly green.

20 BAM note:

• Front: Features the portrait of Safvet-beg Bašagić. He was a Bosnian Muslim poet and one of the pioneers of modern Bosnian literature.
• Back: Illustrates an excerpt from the manuscript of Bašagić’s collection of poems.
• Colour: Mainly blue.

50 BAM note:

• Front: Displays the portrait of Ivan Franjo Jukić, a Bosnian Franciscan and writer.
• Back: On the back, the note features an image of the Old Bridge of Mostar, a 16th-century Ottoman bridge over the Neretva River
• Colour: Mostly red.

100 BAM note:

• Front: Portrait of Meša Selimović, a renowned Bosnian novelist and author.
• Back: Depicts a scene from Selimović’s famous novel “Death and the Dervish.”
• Colour: Predominantly brown.

200 BAM note:

• Front: Features the portrait of Musa Ćazim Ćatić, a Bosnian poet.
• Back: Illustrates elements inspired by Ćatić’s poetry.
• Colour: Mainly green and yellow.

These notes are designed to reflect Bosnia and Herzegovina’s rich cultural heritage and diversity. 

The notes also have modern security features to prevent counterfeiting, including watermarks, security threads, and special inks. 

Bosnian coins 

The Bosnia and Herzegovina convertible mark is divided into 100 smaller units called fenings. 

You’ll find everyday coins minted in denominations of 5, 10, 20, and 50 fenings, as well as larger 1 KM, 2 KM, and 5 KM pieces. 

These round coins are durable, easy to carry, and widely accepted in shops, markets, and cafés across Bosnia and Herzegovina.

1 fening:

• Design: It typically features a small, simple design.
• Material: The coin is made of steel coated with copper.
• Size: It’s the smallest denomination and is quite small.

5 fenings:

• Design: This coin often displays a floral or geometric design.
• Material: Made of copper-plated steel.
• Size: Slightly larger than the 1 fening coin.

10 fenings:

• Design: The design might include cultural or historical symbols.
• Material: Constructed from a blend of copper and nickel.
• Size: Noticeably larger and thicker than the 1 and 5 fening coins.

20 fenings:

• Design: Features more intricate designs, possibly historical figures or landmarks.
• Material: Made from a copper-nickel alloy.
• Size: Larger and heavier than the 10 fening coin.

50 fenings:

• Design: Often the most detailed, showcasing significant national symbols or heritage sites.
• Material: A mix of copper, nickel, and zinc, giving it a distinctive appearance.
• Size: The largest and heaviest of the fening coins.

The coins are also practical for small transactions, providing a convenient means for everyday purchases. Their durability and design make them functional and a small representation of the country’s heritage.

Bosnia Herzegovina convertible mark currency – 5 fascinating facts

1. Coins named after a medieval unit. The term “fening” for the coins comes from “pfennig,” a medieval coin used in the Holy Roman Empire. Highlighting the region’s deep historical roots and influences.
2. Collector’s delight – rare commemorative issues. Bosnia and Herzegovina occasionally issues special, limited-edition banknotes and coins for collectors.
   These editions often commemorate significant national events or historical figures. They’re highly sought after by numismatists (coin collectors) for their rarity and unique designs.
3. Designs that never were. Several proposed designs for the BAM have never made it into circulation. These designs, often reflecting the country’s diverse cultural and historical tapestry, provide a fascinating “what-if” scenario for currency enthusiasts. They showcase alternative artistic visions for the national currency.
4. Unusual anti-counterfeiting measures. Some Bosnian banknotes use unconventional anti-counterfeiting techniques. Certain notes feature tactile elements to aid the visually impaired, also serving as an anti-counterfeiting measure. These tactile elements are not commonly found in many other currencies.
5. A tale of three currencies. During the immediate post-war period, before the introduction of BAM, Bosnia and Herzegovina experienced a unique situation. Three different currencies were simultaneously in circulation! The Bosnian Dinar, Croatian Kuna, and Yugoslav Dinar. This tri-currency period was a rare instance in modern economics.
6. Everyday practicality
   Many of the smaller fening coins are small, light, and perfectly round, making them convenient for day-to-day use in markets, shops, and traditional cafes.

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