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The euro officially came into existence on 1 January 1999, as part of efforts to create an economic and monetary union within the European Union. Germany was one of the first countries to adopt the euro, with the Deutsche Mark ceasing to be legal tender after 31 December 2001. [9] [10]
The Deutsche Mark (German: [ˈdɔʏtʃə ˈmaʁk] ⓘ; "German mark"), abbreviated "DM" or "D-Mark" ([ˈdeːˌmaʁk] ⓘ), was the official currency of West Germany from 1948 until 1990 and later the unified Germany from 1990 until the adoption of the euro in 2002.
For regular coins, see Deutsche Mark and German euro coins. Those prior to 2002 were denominated in Deutsche Marks; subsequent ones have been denominated in euros.
Euro Germany: 1999 current currency Deutsche Mark Germany (unified) West Germany: 1990 (unified) 1948 (West Germany) 2002 East German mark
The German mark was replaced by the euro, first as an accounting currency on 1 January 1999, at a conversion rate of 1.95583 marks per euro. Thereafter, the mark-denominated notes and coins represented the euro at that conversion rate, and remained legal tender until 1 January 2002, when they were replaced by euro notes and coins.
In Germany, Deutsche Telekom modified 50,000 pay phones to take Deutsche Mark coins in 2005, at least on a temporary basis. [32] Callers were allowed to use DM coins, at least initially, with the Deutsche Mark pegged to equal one euro, almost twice the usual rate.
German Euro coins are minted at 5 locations in Germany A, D, F, G, J: ... Mint master mark on Finnish euro coins 1999–2006; Mark Mark description Name of mint master
The convertible mark, the currency of Bosnia and Herzegovina, was fixed to 1 German mark when it was introduced on the basis of the Dayton agreement. Consequently, after introduction of the euro, the convertible mark has used the German-mark-to-euro rate at 1.95583 BAM per euro.