CBBH Will Continue to Accept DEM After March 1

Central Bank of Bosnia and Herzegovina will continue to purchase DEM from commercial banks from March 1 2002 until May 31 2002. CBBH has made the arrangement with Deutsche Bundesbank (German Central Bank) to continue acceptance of DEM banknotes for the next three months. CBBH will charge the banks 0,5 percent for purchase and transport of DEM banknotes to the country of origin.

Central Bank of Bosnia and Herzegovina emphasizes that in the period from March 1 until May 31 it will continue to accept only DEM banknotes from the commercial banks, but not the other national currencies of the European Monetary Union countries.

Central Bank wants to assist the commercial banks in BH, taking into consideration the complexity of money transport procedures abroad, as well as to enable citizens to exchange remaining DEM banknotes in BH.

In 2001, the Central Bank of Bosnia and Herzegovina purchased and transported back to Germany DEM 2,5 billion. Since the beginning of this year until February 27 approximately DEM 1,7 billion was sent back to Germany.

From March 1, the German Mark will not be in circulation the country of origin, Germany. It will be completely replaced by euro. Deutsche Bundesbank (German Central Bank) will continue to exchange DEM banknotes and coins for the indefinite period of time in its branch offices and units in Germany.

 

Public Relations Office
Duška Jurišić