The Konvertibilna Marka was introduced in 1998 under the Dayton Agreement's financial architecture, pegged at parity to the Deutsche Mark — and, after 2002, to the euro at the fixed DEM/EUR conversion rate of 1.95583. The currency was deliberately designed to function without a functioning central government, with the issuing authority split between entity-level boards. That political compromise is baked into the coin's very existence.
Bosnia has never floated its currency. The peg holds by law, not by market confidence.
The Konvertibilna Marka was introduced in 1998 under the Dayton Agreement's financial architecture, pegged at parity to the Deutsche Mark — and, after 2002, to the euro at the fixed DEM/EUR conversion rate of 1.95583. The currency was deliberately designed to function without a functioning central government, with the issuing authority split between entity-level boards. That political compromise is baked into the coin's very existence.
Bosnia has never floated its currency. The peg holds by law, not by market confidence.