Fixed to the euro, since 1998.
The convertible mark is pegged to the euro at 1.95583 under a currency board, so the exchange rate is not a line item in your nearshore budget.
Stability in three figures
- 1.95583
- BAM per euroConvertible marks per euro, fixed rate
- 1998
- Peg sinceCurrency board in place since
- EU
- Candidate countryCandidate country since December 2022
What the currency board gives you.
A rate that does not move
The convertible mark is fixed to the euro under a currency board: every mark issued is covered at least 100% by foreign currency reserves. There is no managed float to re-forecast every quarter.
Quotes that hold
We invoice in euro, so the currency does not sit between your budget and the team. A price you give your own customer is not exposed to an exchange rate in the middle.
And what it does not.
Four things the peg is regularly asked to cover and does not.
- It is not EU membership: Bosnia and Herzegovina is a candidate country, not a member state
- It is not an inflation shield: local prices move like anywhere else, and wages with them
- It is a policy, maintained by the central bank under currency board rules, not a law of nature
- It does not remove political risk: your protection there comes from the contract, not the currency
Moving towards EU rules.
Accession in progress
The European Council granted candidate status in December 2022 and decided in March 2024 to open accession negotiations. The work that follows pulls national rules towards EU ones, data protection and labour law included.
What accession does to cost
Being outside the EU is part of why the cost base is what it is. In Poland, Croatia, Romania and the Baltics, membership pulled wages and prices up towards the rest of the union. Bosnia is looking at ten years or more before it gets there, and when it does, the same pressure applies here.
How we handle data
Teams work in your systems, under your access controls. The specifics, including data processing terms, go into the contract rather than onto a web page.
Sources: Central Bank of Bosnia and Herzegovina on the currency board and the fixed rate; European Commission on accession status. Checked 20 August 2026. What accession does to labour cost is our own reading of what happened in Poland, Croatia, Romania and the Baltics.
The rest of the case.
Strategic Location
CET timezone, central position in Europe, European business culture, direct flights from major Western hubs.
Read moreCost vs Quality
A significantly lower cost base without compromising on competence or quality.
Read moreTalent & Education
Six universities, a growing IT ecosystem and strong English and German skills.
Read moreWalk through the commercial setup with us, currency included.
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