200 Konvertibilnih Maraka

The convertible mark was introduced in 1998 as part of the Dayton Agreement's economic provisions, pegged at parity to the Deutsche Mark and — after 2002 — by extension to the euro at the fixed rate of 1.95583 KM. That peg has held without interruption, making the BAM one of the most stable currencies in the Western Balkans, backed by a currency board arrangement that legally prohibits the Central Bank from extending credit to any level of government.

OeBS in Vienna has printed the entire convertible mark series. The 200 KM is the highest denomination in regular circulation, which in a currency board system carries particular weight — every note in existence must be covered by foreign reserve assets.