20 Konvertibilnih Maraka

The Konvertibilna Marka was introduced in 1998 under the Dayton Agreement's financial architecture, pegged first to the Deutsche Mark and then, automatically, to the Euro at the fixed rate of 1.95583 KM — a peg the Central Bank maintains without discretionary monetary policy, operating essentially as a currency board. That arrangement was a deliberate constraint imposed on a central bank that the international community did not yet trust to act independently.

The 2008 series represented a security upgrade over the first-generation notes, with Oberthur Fiduciaire — long active in francophone Africa and Eastern European markets — handling production at their Chantepie facility. The P#74 is the standard-issue denomination of this revision, not a commemorative or emergency print.