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The Reichsmark was then replaced by the Deutsche Mark, to become the currency of West Germany and then all of Germany after the 1990 reunification. The Reichsmark was used in the Soviet occupation zone of Germany until 23 June 1948, where it was replaced by the East German mark. The Reichsmark was subdivided into 100 Reichspfennig (Rpf or ...
Denominations of the Deutsche Mark currency. Only the denominations DM 1 ⁄ 2, 1, 2, 5, 10, 20, 50, and 100 were instituted on the initial date of June 20, 1948.. The currency reform of 1948 went into effect on June 20, 1948, in the Trizone, the three western occupation zones of Germany.
By the end of the war, the oversupply of banknotes and coins (RM 3.9 bn in 1933, RM 60 bn in 1945) became obvious, openly showing up in inflated black market prices. From 1944 the Allies printed occupation marks (also called military marks), decreeing that these were to be accepted at par with the Rentenmark and the Reichsmark.
The East German mark (German: Mark der DDR [ˈmaʁk deːɐ̯ ˌdeːdeːˈʔɛʁ] ⓘ), commonly called the eastern mark (German: Ostmark [ˈɔstmaʁk] ⓘ) in West Germany and after reunification, was the currency of the German Democratic Republic (East Germany).
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 German states 1857 1873 South German gulden: South German states 1754 1873 North German thaler
Reichsmark, Rentenmark, AM-Mark Reason: intended to protect West Germany from the second wave of hyperinflation and stop the rampant barter and black market trade Ratio: 1 DM = 1 RM (either) below 600 RM 1 DM = 10 RM above 600 RM and each person received 40 DM: Currency of West Germany (incl. West Berlin) 21 (24 W-Berlin) June 1948 – 30 June 1990
Historically, soldiers serving overseas had been paid in local currency rather than in their "home" currency. [1] Most cash drawn by soldiers would go directly into the local economy, and in a damaged economy the effects of a hard currency such as the dollar circulating freely alongside weaker local currencies could be very problematic, risking severe inflation.
As the market was experiencing a glut and prices for petroleum were low, the Nazi government made a profit-sharing agreement with IG Farben in 1933, guaranteeing them a 5 percent return on capital invested in their synthetic oil plant at Leuna. Any profits in excess of that amount would be turned over to the Reich.