Catalog
5 Konvertibilnih Maraka
| Issuer | Central Bank of Bosnia and Herzegovina |
|---|---|
| Year | 2005-2022 |
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| Value | 5 Konvertibilnih Maraka |
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| Composition | Log in to see details |
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| Obverse description | The nickel-brass centre features a dove in flight facing right, carrying an olive branch in its beak, rendered in fine relief against a smooth field, with the date appearing above the bird. The copper-nickel outer ring bears the bilingual country name in both Latin and Cyrillic scripts, reading 'Bosna i Hercegovina' and 'Босна и Херцеговина', arranged along the upper and lower periphery respectively. Four small triangular ornaments serve as separators between the inscriptions on the ring. The overall design is symbolic of peace and reconciliation, reflecting the post-war identity of the Bosnian state. |
|---|---|
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| Obverse lettering | Bosna i Hercegovina 2005 Босна и Херцеговина |
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| Additional information |
The Convertible Mark was introduced in 1998 as part of the Dayton Agreement's economic provisions, pegged at exactly 1:1 with the Deutsche Mark and later, when Germany adopted the euro, re-pegged at 1.95583 KM to one euro — a rate it has held without adjustment ever since. The currency is jointly managed by the three constituent peoples of Bosnia and Herzegovina, a political arrangement that makes even routine central bank decisions subject to ethnic-bloc negotiation.
Bosnia has no independent monetary policy as a result. The fixed peg is maintained by a currency board structure that requires full foreign reserve backing for every mark in circulation.