DEFINITION of 'Bosnia-Herzegovina Convertible Mark - BAM'
The currency of Bosnia and Herzegovina. The Bosnia-Herzegovina convertible mark uses two types of coins: maraka (for higher denominations) and fening (lower denominations). It also uses banknotes denominated in maraka (derived from the word "mark"). The currency is issued by the Central Bank of Bosnia and Herzegovina.
BREAKING DOWN 'Bosnia-Herzegovina Convertible Mark - BAM'
The currency was established in 1995, and replaced the Bosnian dinar and Croatian kuna. It was initially pegged to the German mark (hence "mark" in its name), but switched to being pegged to the euro when Germany adopted it in 2002.