February 15, 2002 - Final Date for the Exchange of the DEM and Other Currencies of the Euro Zone 2/8/2002 Tweet Central Bank of Bosnia and Herzegovina is reminding the BH citizens to exchange their German Marks and banknotes of other countries of the euro zone before February 15, 2002. Exchange can be done in all commercial banks in Bosnia and Herzegovina. After the February 15, exchange of the currencies from the euro zone will be possible in some commercial banks, but that process will be much slower and more expensive. Until the February 7 2002, Central Bank of Bosnia and Herzegovina purchased DEM 5,5 billion from commercial banks and transferred them back to Germany. During the last four months (from November 1 2001 until February 7 2002), CBBH purchased DEM 2,23 billion from the commercial banks in Bosnia and Herzegovina. CBBH hasn't been charging the banks any commission for the purchase of the DEM since October 1, last year. The decision not to charge the commission, that used to be 0,1%, will continue until February 28, 2002. On the February 5 2002, CBBH received new shipment of the euro banknotes worth euro 45 million. There were five shipments before this one in January worth euro 210 million and another shipment that arrived in December, worth euro 15 million. The largest part of the entire volume worth euro 270 million has been distributed in accordance to the needs of the commercial banks in Bosnia and Herzegovina. CBBH charges 0,1% fee for euro purchase to the commercial banks. Since the January 1, all commercial banks can purchase euro directly from the foreign banks, without the mediation of the Central Bank. CBBH reminds that its obligation is to provide BH commercial banks with sufficient amount of the domestic currency, the Convertible Mark, at any time, not with the foreign currencies. Public Relations Office Almir Salihović
