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The Deutsche Mark played an important role in the reunification of Germany. It was introduced as the official currency of East Germany in July 1990, replacing the East German mark (Mark der DDR), in preparation for unification on 3 October 1990. East German marks were exchanged for Deutsche Marks at a rate of 1:1 for the first M 4,000 and 2:1 ...
This is a list of tables showing the historical timeline of the exchange rate for the Indian rupee (INR) against the special drawing rights unit (SDR), United States dollar (USD), pound sterling (GBP), Deutsche mark (DM), euro (EUR) and Japanese yen (JPY). The rupee was worth one shilling and sixpence in sterling in 1947.
The Plaza Accord was a joint agreement signed on September 22, 1985, at the Plaza Hotel in New York City, between France, West Germany, Japan, the United Kingdom, and the United States, to depreciate the U.S. dollar in relation to the French franc, the German Deutsche Mark, the Japanese yen and the British pound sterling by intervening in currency markets.
East German mark East Germany: 1948 1990 Saar franc: Saarland: 1947 1959 Saar mark: Saarland: 1947 1947 Reichsmark Allied-occupied Germany Nazi Germany Weimar Republic: 1924 1948 German Rentenmark Weimar Republic: 1923 1924 German Papiermark Weimar Republic German Empire: 1914 1923 German gold mark German Empire: 1873 1914 Vereinsthaler: North ...
Upon adoption of the Deutsche Mark in East Germany on 1 July 1990, the East German Mark was converted at par for wages, prices and basic savings (up to a limit of M 4,000 per person, except a smaller number for children and a larger number for pensioners). Larger amounts of savings, company debts and housing loans were converted at a 2:1 rate ...
After World War II and the rebuilding of the German economy, the German mark gained the status of the second most important reserve currency after the US dollar. When the euro was introduced on 1 January 1999, replacing the mark, French franc and ten other European currencies, it inherited the status of a major reserve currency from the mark.
The remaining convertible mark of Bosnia and Herzegovina is a currency that officially replaced the German mark as de facto currency of the ruptured economy and hyper-inflation of local divided currencies after the Bosnian war, pegged to the German mark 1:1 at the time, and further pegged to Euro at the rate at which German mark was replaced, i ...
The US dollar continued to weaken in 1987 against the Deutsche Mark and other major currencies, reaching a low of 1.57 marks per dollar and 121 yen per dollar in early 1988. The dollar then strengthened over the next 18 months, reaching over 2.04 marks per dollar and 160 yen per dollar, in tandem with the Federal Reserve raising interest rates ...