Money and Budget in Bosnia and Herzegovina

 

novac papirniBosnia and Herzegovina is relatively cheap country if compared with the countries of Western Europe. Food, transport, night life – everything is accessible, and it gets even cheaper when you leave the major urban centers in Bosnia and Herzegovina.

Most food in Bosnia and Herzegovina is of high quality and very affordable. A fine meal in a good restaurant will cost some 10-15 euro, including modestly priced beverages. If you have much less to spend it is possible to have a 3 KM meal with pies and yoghurt or to get affordable food from any of the many supermarkets.

Going out is possible whatever your budget. Transport between cities is very reasonably priced. Mostar to Sarajevo will cost you between 10 and 18 KM, for example. Within town, buses are always cheap, but taxi prices depend on the town you're in.

5km front velikaAccommodation is a little more expensive then in the main cities. Most hotels will not accommodate you for less than 35 euro per night in a single, or less than 38 euro in a double. In smaller towns, you can find hotel/motel accommodation for 25 euro. If you are a budget traveler you should pay anything between 15 and 25 KM per night for a bed in a private house. For low budget travelers Bosnia and Herzegovina should not cost you more than 40 KM (20 euro) per day. For hikers and adventure-seekers, day trips cost between 25 and 75 KM. A weekend trip with food, guide, transport and accommodation will cost around 150-200 KM.

Currency in Bosnia and Herzegovina is called Convertible Mark (KM) and has a BAM label on the international exchange rate lists. Value of the Convertible Mark is related to the Euro (EUR) and the ratio is 1 EUR = 1.955 KM.

2km front velikaPrices in Bosnia and Herzegovina are expressed in Convertible Marks. Cash payments are also made in Convertible Marks. Pounds, dollars, yens and other major currencies can be exchanged at banks and exchange offices. When changing currency the bank takes a percentage of the total amount that is exchanged which is not fixed and may vary from bank to bank. It is recommended to inform oneself in details about the rates and the percentage that the bank takes before the actual exchange of money.

Payments can be made by international credit and debit cards. Priority is given to Visa and MasterCard. Although the use of credit cards is increasing, it is not recommended to rely only on the credit cards because for example the American Express is not received in all places, not even in the larger cities. 1km front velikaMake sure that you always have some cash especially when you are leaving the larger cities, because in smaller cities and villages there is neither ATMs nor payment is made by credit cards.

In larger cities there are many ATMs where you can withdraw cash 24 hours a day. The limits on daily cash withdrawals range from 300 KM to 1000 KM depending on the bank to which the ATM and the credit card belong. In many cases, ATMs accept only one type of cards (either Visa or MasterCard).

 

NOTE!

In Bosnia and Herzegovina, on the bills of same denominations there appear different pictures – images on bills. Most of the bills have been officially designed in two variants. Appearance and color of the bills are identical except for the figure on the front and the picture on the back. Both versions are original and are equally used on the entire territory of Bosnia and Herzegovina.

Currency exchange and the Convertible Marks bills can be viewed at the Central Bank website www.cbbh.ba.

Currency Exchange     KM Banknotes and Coins

cbbh

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