Convertible mark
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The convertible mark ( sh-Latn-Cyrl, konvertibilna marka, конвертибилна марка, separator=" / ";
sign A sign is an object, quality, event, or entity whose presence or occurrence indicates the probable presence or occurrence of something else. A natural sign bears a causal relation to its object—for instance, thunder is a sign of storm, or me ...
: KM;
code In communications and information processing, code is a system of rules to convert information—such as a letter, word, sound, image, or gesture—into another form, sometimes shortened or secret, for communication through a communicati ...
: BAM) is the
currency A currency is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a ''system of money'' in common use within a specific envi ...
of
Bosnia and Herzegovina Bosnia and Herzegovina, sometimes known as Bosnia-Herzegovina and informally as Bosnia, is a country in Southeast Europe. Situated on the Balkans, Balkan Peninsula, it borders Serbia to the east, Montenegro to the southeast, and Croatia to th ...
. It is divided into 100 pfenig or fening ( sh-Cyrl, пфениг or фенинг) and locally abbreviated ''KM'' ( sh-Cyrl, КМ, link=no). While the currency and its subunits are uniform for both constituent polities of Bosnia and Herzegovina, namely the
Federation of Bosnia and Herzegovina The Federation of Bosnia and Herzegovina (Serbo-Croatian: ''Federacija Bosne i Hercegovine'' / ''Федерација Босне и Херцеговине'') is one of the two Political divisions of Bosnia and Herzegovina, entities composing Bo ...
(FBiH) and
Republika Srpska Republika Srpska ( sr-Cyrl, Република Српска, ; also referred to as the Republic of Srpska or Serb Republic) is one of the two Political divisions of Bosnia and Herzegovina, entities within Bosnia and Herzegovina, the other bein ...
(RS), the designs of the KM 10, KM 20, KM 50, and KM 100 banknotes are differentiated for each polity.


History

The
convertible A convertible or cabriolet () is a Car, passenger car that can be driven with or without a roof in place. The methods of retracting and storing the roof vary across eras and manufacturers. A convertible car's design allows an open-air drivin ...
mark was established by the 1995
Dayton Agreement The General Framework Agreement for Peace in Bosnia and Herzegovina, also known as the Dayton Agreement or the Dayton Accords ( sh-Latn-Cyrl, Dejtonski mirovni sporazum, Дејтонски мировни споразум), and colloquially kn ...
. It replaced the Bosnia and Herzegovina dinar, Croatian kuna and Yugoslav novi dinar as the single currency of Bosnia and Herzegovina in 1998. ''Mark'' refers to the
Deutsche Mark The Deutsche Mark (; "German mark (currency), mark"), abbreviated "DM" or "D-Mark" (), was the official currency of West Germany from 1948 until 1990 and later of unified Germany from 1990 until the adoption of the euro in 2002. In English, it ...
, the currency to which it was pegged at par.


Etymology

The names derive from
German German(s) may refer to: * Germany, the country of the Germans and German things **Germania (Roman era) * Germans, citizens of Germany, people of German ancestry, or native speakers of the German language ** For citizenship in Germany, see also Ge ...
. The three official languages of Bosnia and Herzegovina, Bosnian, Serbian and Croatian, have adopted the German nouns and as loanwords ''marka'' and ''pfenig''. The Official Gazette of BiH (Bosnian: ), Official newspaper of FBiH (Bosnian: ) and other official documents recognised ''pfenig'' or пфениг (depending on the script; Serbian and Bosnian use both Latin and Cyrillic, while Croatian uses only Latin) as the name of the subdivision. Most, however, consider the "pf" cluster in "pfenig" to be nigh unpronounceable, so the pronunciation was practically immediately reduced to "fenig", which eventually gave rise to the "fening" misspelling. Banknotes of 50 fenings circulated from 1998 to 2003. They were denoted "50 KONVERTIBILNIH PFENIGA" / "50 КОНВЕРТИБИЛНИХ ПФЕНИГА"; technically, the word ''convertible'' should not qualify the word ''pfenig'' because only the mark is convertible. ''(See Errors for all of the errors on banknotes and coins.)'' Coins of 10, 20, and 50 pfenigs have circulated since 1998 (the 5-pfenigs coin was released in 2006). All of them are inscribed "" / "" on the
obverse The obverse and reverse are the two flat faces of coins and some other two-sided objects, including paper money, flags, seals, medals, drawings, old master prints and other works of art, and printed fabrics. In this usage, ''obverse'' ...
. The misspelling / has never been corrected, and it took such a hold that it was officially adopted and not recognised as incorrect. Due to the overall confusion surrounding the foreign name of the currency, most people call the convertible mark simply "marka" ("mark") while pfennigs are referred to as "kovanice" ("nickels").


Plurals and cases

Serbo-Croatian Serbo-Croatian ( / ), also known as Bosnian-Croatian-Montenegrin-Serbian (BCMS), is a South Slavic language and the primary language of Serbia, Croatia, Bosnia and Herzegovina, and Montenegro. It is a pluricentric language with four mutually i ...
is subject to a
case system A grammatical case is a category of nouns and noun modifiers (determiners, adjectives, participles, and numerals) that corresponds to one or more potential grammatical functions for a nominal group in a wording. In various languages, nominal ...
. For the purposes of pluralizing currency terms, three situations are relevant: *In combination with numbers 1, 21, 31, 41, 51, 61, 71, 81, 101, 1001, et cetera (i. e. all numbers ending in "1" except 11), nouns use the
nominative In grammar, the nominative case ( abbreviated ), subjective case, straight case, or upright case is one of the grammatical cases of a noun or other part of speech, which generally marks the subject of a verb, or (in Latin and formal variants of E ...
case
singular Singular may refer to: * Singular, the grammatical number that denotes a unit quantity, as opposed to the plural and other forms * Singular or sounder, a group of boar, see List of animal names * Singular (band), a Thai jazz pop duo *'' Singula ...
(the base form): ::''màrka'' (màr: ''a'' – short vowel, rising tone) and ''pfénig''/''féning'' ((p)fé: ''e'' – short vowel, rising tone) *In combination with numbers whose final digit is 2, 3, or 4 (except 12, 13, and 14), nouns use the genitive case
singular Singular may refer to: * Singular, the grammatical number that denotes a unit quantity, as opposed to the plural and other forms * Singular or sounder, a group of boar, see List of animal names * Singular (band), a Thai jazz pop duo *'' Singula ...
(the "
paucal In linguistics, grammatical number is a feature of nouns, pronouns, adjectives and verb agreement that expresses count distinctions (such as "one", "two" or "three or more"). English and many other languages present number categories of singula ...
form"): ::''màrke'' (màr: ''a'' – short vowel, rising tone) and ''pféniga''/''féninga'' ((p)fé: ''e'' – short vowel, rising tone) *In combination with numbers 0, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 100, 1000, 10000, et cetera (i. e. all numbers ending in 5, 6, 7, 8, 9, 0, 11, 12, 13, or 14), nouns use the
genitive In grammar, the genitive case ( abbreviated ) is the grammatical case that marks a word, usually a noun, as modifying another word, also usually a noun—thus indicating an attributive relationship of one noun to the other noun. A genitive can ...
case plural: ::''mȁrākā'' (mȁr: ''a'' – short vowel, falling tone; vowels ''ā'' are not accented but have genitive length) and ''pfénīgā''/''fénīngā'' ((p)fé: ''e'' – short vowel, rising tone; vowels ''ī'' and ''ā'' are not accented but have genitive length) :''(For further information on accents in BSC, see
Serbo-Croatian phonology Serbo-Croatian is a South Slavic language with four national standards. The Eastern Herzegovinian Neo-Shtokavian dialect forms the basis for Bosnian, Croatian, Montenegrin, and Serbian (the four national standards). Standard Serbo-Croatian ...
and Shtokavian dialect#Accentuation.)''
For the pfenig, the plural is ''pfeniga''/''feninga'' with a short unaccented ''a'', whereas the genitive plural is the same ''pfeniga''/''feninga'' but with a long unaccented ''i'' and ''a''. A syllable after an accented syllable whose vowel is pronounced long and with a continuous tone, i. e. neither rising or falling, is said to have a genitive length (although the word does not necessarily have to be in the genitive case in order to have genitive length on its syllable; it can be in the
locative In grammar, the locative case ( ; abbreviated ) is a grammatical case which indicates a location. In languages using it, the locative case may perform a function which in English would be expressed with such prepositions as "in", "on", "at", and " ...
also). These matters should be noted when the local names are used in English. For example, the English plural "ten pfenigas" / "ten feningas" is incorrect because the final ''a'' in the BSC plural ''pfeniga''/''feninga'' already indicates the plural. Therefore "ten pfenigs" / "ten fenings" should be used. The Central Bank of Bosnia and Herzegovina (CBBH) uses "fenings" as the English plural. Likewise, "twenty-one markas", "two markes", and "twelve marakas" are incorrect; "twenty-one marks", "two marks", and "twelve marks", respectively, are correct.


Coins

In December 1998, coins were introduced in denominations of 10, 20 and 50 fenings. Coins of 5 fenings, KM 1, KM 2 and KM 5 were introduced later. The coins were designed by Bosnian designer Kenan Zekić and minted at the
Royal Mint The Royal Mint is the United Kingdom's official maker of British coins. It is currently located in Llantrisant, Wales, where it moved in 1968. Operating under the legal name The Royal Mint Limited, it is a limited company that is wholly ow ...
in
Llantrisant Llantrisant (; "Parish of the Three Saints") is a town and community in the county borough of Rhondda Cynon Taf, Wales. It lies within the historic county boundaries of Glamorgan, on the River Ely and the Afon Clun. The three saints of the t ...
(
Wales Wales ( ) is a Countries of the United Kingdom, country that is part of the United Kingdom. It is bordered by the Irish Sea to the north and west, England to the England–Wales border, east, the Bristol Channel to the south, and the Celtic ...
, UK).


Banknotes

In 1998, notes were introduced in denominations of 50 fenings, KM 1, KM 5, KM 10, KM 20, KM 50, and KM 100. KM 200 notes were added in 2002, while the 50-fening and KM 1 and KM 5 notes were later withdrawn from circulation. All current notes are valid throughout the nation. The Central Bank of Bosnia Herzegovina issues the banknotes, with distinct designs for the constituent polities of the
Federation of Bosnia and Herzegovina The Federation of Bosnia and Herzegovina (Serbo-Croatian: ''Federacija Bosne i Hercegovine'' / ''Федерација Босне и Херцеговине'') is one of the two Political divisions of Bosnia and Herzegovina, entities composing Bo ...
and the
Republika Srpska Republika Srpska ( sr-Cyrl, Република Српска, ; also referred to as the Republic of Srpska or Serb Republic) is one of the two Political divisions of Bosnia and Herzegovina, entities within Bosnia and Herzegovina, the other bein ...
,1 except for the largest denomination, i. e. the KM 200 note. The banknotes are legal tender throughout the country. On the notes for the Republika Srpska, inscriptions are printed first in Cyrillic and then Latin script, and vice versa. Banknotes, with the exception of the KM 200 note, are printed by the French company Oberthur.


Federation of Bosnia and Herzegovina issues


Republika Srpska issues


Nationwide issues

The portraits of Ivan Franjo Jukić and Meša Selimović, which are both writers, were featured by consensus between both entities on all KM 1 and KM 5 notes used between 1998 and 2010. On 15 May 2002, a KM 200 banknote, designed by Robert Kalina, was introduced during a promotion that was held in the Central Bank of BH. The reverse design which depicts a bridge is meant to resemble the euro banknotes, which were also designed by Robert Kalina. After an international tender, the Austrian company Oesterreichische Banknoten und Sicherheitsdruck GmbH (OeBS) in
Vienna Vienna ( ; ; ) is the capital city, capital, List of largest cities in Austria, most populous city, and one of Federal states of Austria, nine federal states of Austria. It is Austria's primate city, with just over two million inhabitants. ...
was chosen to print the notes. Initially, six million were ordered.


Exchange rates

Initially the mark was pegged to the
Deutsche Mark The Deutsche Mark (; "German mark (currency), mark"), abbreviated "DM" or "D-Mark" (), was the official currency of West Germany from 1948 until 1990 and later of unified Germany from 1990 until the adoption of the euro in 2002. In English, it ...
at par. Since the replacement of the German mark by the
euro The euro (currency symbol, symbol: euro sign, €; ISO 4217, currency code: EUR) is the official currency of 20 of the Member state of the European Union, member states of the European Union. This group of states is officially known as the ...
in 2002, the Bosnian convertible mark uses the same
fixed exchange rate A fixed exchange rate, often called a pegged exchange rate, is a type of exchange rate regime in which a currency's value is fixed or pegged by a monetary authority against the value of another currency, a currency basket, basket of other currenc ...
to euro that the German mark had (that is,


Errors

Banknotes and coins of Bosnia and Herzegovina have many mistakes and inconsistencies. Officially, only one banknote has not been released in circulation because of a mistake, even though other banknotes with mistakes had been issued.


Banknote examples

These are the most important mistakes that have been noticed to date: * Both designs of the 50 fening banknote imprinted the adjective "convertible" next to the noun "pfenig", although only the mark has the "convertible" prefix ("50 KONVERTIBILNIH PFENIGA" / "50 КОНВЕРТИБИЛНИХ ПФЕНИГА"). * The KM 1 banknote for
Republika Srpska Republika Srpska ( sr-Cyrl, Република Српска, ; also referred to as the Republic of Srpska or Serb Republic) is one of the two Political divisions of Bosnia and Herzegovina, entities within Bosnia and Herzegovina, the other bein ...
was imprinted "ИВО АНДРИЂ / IVO ANDRIĐ" instead of "ИВО АНДРИЋ / IVO ANDRIĆ". This banknote was immediately removed from circulation. * Both designs of the KM 5 banknote had the Cyrillic word "five" incorrectly printed in Latin script on its reverse ("PET КОНВЕРТИБИЛНИХ МАРАКА", instead of "ПЕТ ..."). Also, Meša Selimović's name is written in Cyrillic as "Меща Селимовић" instead of "Meша Селимовић" (the letter '' щ'' is not even used in any of the official languages of Bosnia and Herzegovina). * The KM 10 banknote for
Republika Srpska Republika Srpska ( sr-Cyrl, Република Српска, ; also referred to as the Republic of Srpska or Serb Republic) is one of the two Political divisions of Bosnia and Herzegovina, entities within Bosnia and Herzegovina, the other bein ...
, first series, 1998, had
Aleksa Šantić Aleksa Šantić ( sr-Cyrl, Алекса Шантић, (); 27 May 1868 – 2 February 1924) was a Herzegovinian Serb poet and writer from Mostar, Bosnia and Herzegovina. Šantić wrote about the urban culture of his hometown Mostar and Herzegovi ...
's name printed in Latin script although it should have been printed in Cyrillic script as it is on all other examples of the 1998 series. * Both designs of the KM 100 banknote were incorrectly printed with the Cyrillic abbreviation of the Central Bank of Bosnia and Herzegovina with "Џ / Dž" instead of "Ц / C" (i. e. "ЏББХ / DžBBH" instead of "ЦББХ / CBBH") in the safety bar. * In 2017, Edin Bujak of the Department of Archaeology of the Faculty of Philosophy in
Sarajevo Sarajevo ( ), ; ''see Names of European cities in different languages (Q–T)#S, names in other languages'' is the Capital city, capital and List of cities in Bosnia and Herzegovina, largest city of Bosnia and Herzegovina, with a population of 2 ...
noticed a mistake on the KM 10 banknote for the Federation of B&H. The picture of the
stećak Stećak (plural stećci; Cyrillic стећак, стећци) is the name for monumental medieval tombstones, that lie scattered across Bosnia and Herzegovina, and the border parts of Croatia, Montenegro and Serbia. An estimated 60,000 are found w ...
on the reverse is actually a picture of a stećak from Križevići, Olovo and not from the Radimlja necropolis as stated on the banknote. The Central Bank of Bosnia and Herzegovina confirmed this mistake, and it will be corrected in future printing of the banknote.


Coin examples

* The name of the subdivision of the convertible mark has been incorrectly engraved on coins: the word "pfenig" has been engraved as "fening". This mistake has taken such a hold, especially because there were and are no 50 pfenig/fening banknotes in circulation, that "fening" was officially adopted as the name of the hundredth unit of the KM and is not recognized as incorrect.


See also

*
Currencies related to the euro The euro, which is the currency of the European Union member states in the eurozone, has been used internationally since its launch in 1999. On 1 January 2002, when the currency formally replaced 12 currencies of the original eurozone stat ...
*
Economy of Bosnia and Herzegovina The economy of Bosnia and Herzegovina is a developing, upper-middle income economy. Bosnia and Herzegovina declared independence from socialist Yugoslavia on 1 March 1992. The main trading partners are Germany, Italy, Austria, Turkey and neighb ...


Notes


References


External links


Historical and current banknotes of Bosnia and Herzegovina
{{DEFAULTSORT:Bosnia And Herzegovina Convertible Mark Circulating currencies Currencies introduced in 1998
currency A currency is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a ''system of money'' in common use within a specific envi ...
Fixed exchange rate Currencies with multiple banknote issuers Currencies of Europe