Catalog
20 Konvertibilnih Maraka
| Issuer | Central Bank of Bosnia and Herzegovina |
|---|---|
| Year | 1998-2002 |
| Type | Standard circulation banknote |
| Value | Log in to see details |
| Currency | Log in to see details |
| Composition | Log in to see details |
| Size | Log in to see details |
| Shape | Log in to see details |
| Printer | Log in to see details |
| Designer(s) | Log in to see details |
| Engraver(s) | Log in to see details |
| In circulation to | Log in to see details |
| Reference(s) | Log in to see details |
| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Log in to see details |
| Reverse lettering | Log in to see details |
| Signature(s) | Log in to see details |
| Protection type | Watermark, Security thread |
| Protection description | the Central Bank emblem visible when held to light; embedded security thread running vertically through the note |
| Variants | Log in to see details |
| Comments |
The Konvertibilna Marka was introduced in June 1998 as part of the post-Dayton monetary architecture imposed on Bosnia and Herzegovina, replacing the Bosnian Dinar at a rate of 100:1. Crucially, the new currency was pegged to the Deutsche Mark at par — and when Germany adopted the euro in 2002, the peg transferred automatically to the euro at the fixed DM conversion rate, a transition Bosnia never formally legislated but simply inherited.
The currency board arrangement underpinning it, administered by the Central Bank established in 1997, legally prohibited the bank from acting as a lender of last resort — an unusual constitutional constraint written directly into the Dayton-derived banking law to reassure creditors and prevent inflationary policy by any of the three constituent peoples.