Countries that use the Convertible Mark
The Convertible Mark was established in 1999 as an official national currency and is used only in Bosnia and Herzegovina. 1 Mark is devided into 100 Fening.
The Convertible Mark is tied to the Euro
with a fixed exchange rate. Therefore, 1 Mark always equals to 0.5113 Euro.
1.00 Convertible Mark = 0.60 US Dollar
Exchange rate history 1 BAM in USD
Convertible Mark as currency
Currency reserves for the Convertible Mark
According to the International Monetary Fund, the total broad money (M3) amounted to BAM 22.10 billion at the end of 2017. For currency hedging, reserves were held in a total amount of 9.94 billion Marks. This corresponds to a ratio of 1:2.2. Or in other words: 1 of 2 Marks is deposited with a countervalue, which is internationally already above average.
Approximately 212.8 million Marks (2.1%) of the currency reserves exist in gold reserves, the remainder consists of foreign currencies, special drawing rights in the International Monetary Fund and other reserve positions.Worldwide currency and gold reserves
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