Foreign Reserves surpassed DEM 500 Million

The foreign reserves of Central Bank of Bosnia and Herzegovina (CBBH) for the Convertible Marka (KM), surpassed the DEM 500 million mark on Friday, October 15, 1999, confirmed Governor Peter Nicholl today in Sarajevo. "This is up from only DEM 140 million in late June of 1998 when the currency was first intoduced," he said.
The Governor says the CBBH's reserves jumped from DEM 420 million on September 15th by 80 million DEM to pass the half billion mark this last Friday.
"The increase is due to widespread use of the KM currency in every corner of this country!", said Governor Nicholl. The most dramatic increase was reported in the Mostar region where the CBBH Main Unit Mostar had sold only 5.600.000,00 KM since the KM went into circulation in June 1998, but from the first of October 1999 the figure jumped by 21.000.000,00 nearly a 400% increase to more 26.000.000,00.
The current balance of CBBH reserves are in excess of 501.214.697,23

For more information please call the CBBH office of Public Relations, at 071-444-785
or e-mail: [email protected]