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    Currency in Bosnia and Herzegovina BAM - Things to know

    Foreign exchange guide to Bosnia and Herzegovina and the Bosnia-Herzegovina Convertible mark

    Bosnia and Herzegovina

    What currency is used in Bosnia and Herzegovina?

    The official currency of Bosnia and Herzegovina (country code: BA) is the Bosnia-Herzegovina Convertible mark, with symbol and currency code BAM.

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    Things to know about the Bosnia-Herzegovina Convertible mark

    The currency code "BAM" refers to the Bosnia and Herzegovina convertible mark, which is the official currency of Bosnia and Herzegovina. It is represented by the symbol "KM" and is abbreviated as BAM. The physical currency consists of coins and banknotes. The coins come in denominations of 1, 2, 5, 10, 20, and 50 feninga. The banknotes come in denominations of 10, 20, 50, 100, 200, 500, and 1,000 convertible marks. The banknotes feature images of famous Bosnian and Herzegovinian historical figures, such as Mehmed Pasha Sokolovic and Ivan Franjo Jukic. The design of the currency is constantly being updated, so the physical appearance of the coins and banknotes may vary slightly over time.

    An example Bosnia-Herzegovina Convertible mark banknote


    Travel money for Bosnia and Herzegovina

    Save money and time by Ordering your Bosnia-Herzegovina Convertible mark online from Travelex, you get better rates and can pick up the BAM cash locally or even on travel day at the airport.

    Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.

    For card purchases if offered a choice of currencies always select to Pay in Bosnia-Herzegovina Convertible mark otherwise you may get much worst exchange rates.


    Travel Ideas and Money Tips for Bosnia and Herzegovina

    Bosnia and Herzegovina, often referred to simply as Bosnia, is a country in Southeastern Europe known for its rich history, diverse cultures, and stunning landscapes. As with any international trip, understanding the country's monetary system and planning your travel money is essential. Here's a guide to help you navigate your financial needs while traveling in Bosnia.

    The official currency of Bosnia and Herzegovina is the Bosnian Convertible Mark (BAM or KM). It is divided into 100 fenings.

    Money Tips:

    1. Cash vs. Card: While credit and debit cards are accepted in most major cities and tourist areas, it's a good idea to carry some cash for smaller towns, local markets, and public transportation. Visa and MasterCard are the most widely accepted, but it's less common to see establishments accepting American Express or Diners Club.

    2. ATMs: ATMs are widely available in larger cities like Sarajevo, Mostar, and Banja Luka. Before withdrawing money, check if your bank charges international transaction fees.

    3. Currency Exchange: It's recommended to exchange a small amount of money before arriving or at the airport for immediate expenses. For better exchange rates, consider changing money at local banks or licensed exchange bureaus in the cities. Avoid changing money with street vendors.

    4. Tipping: Tipping is common but not obligatory. In restaurants, it's customary to leave around 10% of the bill if service was satisfactory. It's also polite to tip guides, drivers, and hotel staff for good service.

    5. Bargaining: In open markets or with street vendors, bargaining can be part of the shopping experience. However, it's essential to do so politely and respectfully.

    6. Budgeting: Bosnia and Herzegovina is generally more affordable than many Western European countries. Accommodation, food, and local transportation can be quite reasonable. However, always budget for unexpected expenses.

    7. Receipts: Keep all receipts, especially if you're claiming VAT refunds.

    Safety Tips:

    1. Avoid Carrying Large Amounts: It's safer to carry only the cash you need for the day and leave the rest, along with important documents, in a hotel safe or other secure location.

    2. Use Money Belts: Consider using a money belt or hidden pouch to keep your cash and cards safe from pickpockets, especially in crowded areas.

    3. Check Bank Statements: Regularly check your bank and card statements to ensure there are no unauthorized transactions.

    4. Emergency Numbers: Make a note of emergency numbers, including your bank's international number, in case you lose your card or face any financial issues.

    Bosnia and Herzegovina offers a rich and diverse experience for travelers. Being prepared financially will ensure you make the most of your trip without unnecessary stress. Whether you're exploring the historical streets of Sarajevo, enjoying the natural beauty of the Kravica waterfalls, or tasting traditional Bosnian coffee, having your travel money sorted will make your experience smoother and more enjoyable. Safe travels!


    USD/BAM Market Data

    The below interactive chart displays the USD/BAM change and UP📈 DOWN📉 trends over the past 1 Year.

    1 USD =
    1.8229We compare provider deals to this wholesale mid-market rate. Read more
      1 BAM = 0.5486 USD   (Inverse rate)
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    Frequently Asked Questions

    What currency should I use in Bosnia and Herzegovina?

    The domestic currency in Bosnia and Herzegovina is the Bosnia-Herzegovina Convertible mark.

    What is the Bosnia-Herzegovina Convertible mark currency code and symbol?

    The three letter currency code for the Bosnia-Herzegovina Convertible mark is BAM.

    Which countries use the Bosnia-Herzegovina Convertible mark?

    It is the domestic currency in    Bosnia and Herzegovina.

    Is the Bosnia-Herzegovina Convertible mark a closed currency?

    No, the Bosnia-Herzegovina Convertible mark is freely available and convertible. See guide: What is a closed currency?

    What are equivalent amounts of USD and BAM?

    Here are some popular conversion amounts for USD to BAM (US dollar to Bosnia-Herzegovina Convertible mark)*.

    $ 1 1.8229
    $ 5 9.1145
    $ 10 18.23
    $ 20 36.46
    $ 50 91.15
    $ 100 182.29
    $ 250 455.73
    $ 500 911.45
    $ 1,000 1,823
    $ 2,000 3,646
    $ 5,000 9,115
    $ 10,000 18,229
    $ 20,000 36,458
    $ 50,000 91,145
    $ 100,000 182,290
    $ 0.5486 1
    $ 2.7430 5
    $ 5.4860 10
    $ 10.97 20
    $ 27.43 50
    $ 54.86 100
    $ 137.15 250
    $ 274.30 500
    $ 548.60 1,000
    $ 1,097 2,000
    $ 2,743 5,000
    $ 5,486 10,000
    $ 10,972 20,000
    $ 27,430 50,000
    $ 54,860 100,000

    More amounts

    *Converted at the current USDBAM interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.

    Send Money to Bosnia and Herzegovina - Best Rates

    To get a good (and fair) exchange rate when sending money to Bosnia and Herzegovina you need to find and compare exchange rates for International Money Transfers (IMTs).

    The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.

    You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.

    Get a better deal for foreign transfers to Bosnia and Herzegovina

    When sending money to Bosnia and Herzegovina it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :

    1. Open an account with a BER reviewed FX provider (id docs may be required)
    2. You specify the local or Bosnia-Herzegovina Convertible mark amount you want to transfer
    3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
    4. Once your funds are received by the provider the converted BAM amount will be transfered to the recipient account you specify in Bosnia and Herzegovina.

    Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Bosnia-Herzegovina Convertible mark deposited into the recipient bank account and less margins and fees kept by the banks!


    Expat Money & Business Guide to Bosnia and Herzegovina

    Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.

    By following these tips and managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Bosnia and Herzegovina.

    How is the Economy in Bosnia and Herzegovina?

    The economy of Bosnia and Herzegovina is classified as a developing market economy by the International Monetary Fund (IMF). The country has made progress in rebuilding its economy since the end of the Bosnian War in 1995, but it remains one of the poorest countries in Europe.

    The main industries in Bosnia and Herzegovina include manufacturing, mining, and tourism. The country has a well-developed industrial sector, with a focus on metals, textiles, and wood products. It is also home to a number of mineral deposits, including coal, iron ore, and bauxite. In recent years, the tourism industry has become increasingly important to the economy, with visitors attracted to the country's natural beauty and cultural heritage.

    Despite these strengths, the economy of Bosnia and Herzegovina faces a number of challenges. The country has a high unemployment rate, and many of its citizens live in poverty. Inflation is also a problem, and the government has struggled to implement structural reforms to improve the business climate and boost economic growth. In recent years, the country has received financial assistance from international organizations such as the IMF to help stabilize its economy.

    Managing your finances in Bosnia and Herzegovina

    Here we list some key points for expats and businesses to consider when managing financial dealings in Bosnia and Herzegovina:

    1. Understand Bosnia-Herzegovina Convertible mark currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the BAM exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.

    2. Use a local Bosnia-Herzegovina Convertible mark bank account: A local BAM bank account can make it easier for you to manage your finances and pay bills while you are in Bosnia and Herzegovina. It may also be more convenient to use a local BAM bank account to make purchases and withdraw cash.

    3. Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Bosnia and Herzegovina. This can help you avoid legal issues and ensure that you are complying with local requirements.

    4. Consider the tax implications: It is important to understand the tax implications of living or doing business in Bosnia and Herzegovina. This can help you plan your finances and ensure that you are paying the correct amount of tax.

    5. Seek financial advice: If you are unsure of how to manage your finances in Bosnia and Herzegovina, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.


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