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The Deutsche Mark earned a reputation as a strong store of value at times when other national currencies succumbed to periods of inflation. [ citation needed ] It became a source of national pride and an anchor for the country's economic prosperity, [ citation needed ] particularly during the years of the Wirtschaftswunder in the 1950s.
From June 21, 1948, the Deutsche Mark ("DM", also "D-Mark") was the sole legal tender there. The two previously valid means of payment, the Reichsmark and the Rentenmark of equivalent value (both abbreviated as "RM"), were removed from circulation and replaced by the Deutschmark. The currency reform of 1948 is one of the most significant ...
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 ...
1 1950s and 1960s. 2 1970s. 3 1980s. 4 1990s. 5 2000s: Marks. Toggle the table of contents. ... For regular coins, see Deutsche Mark and German euro coins.
Deutsche Mark Germany (unified) West Germany: 1990 (unified) 1948 (West Germany) 2002 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 ...
The gold.mark, introduced by the German Coinage Act of 1871, was the currency of the newly founded German Empire, divided into 100 pfennigs. This partition was retained through all German currencies (including the Rentenpfennig, the Reichspfennig, and the pfennig of the Deutsche Mark) until 2001. German Empire: 25 pfennig iron coin 1918.
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 ...
These initial problems were overcome by the time of the currency reform of 1948, which replaced the Reichsmark with the Deutsche Mark as legal tender, halting rampant inflation. This act to strengthen the West German economy had been explicitly forbidden during the two years that JCS 1067 was in effect. JCS 1067 had directed the U.S. forces of ...