Deutsche Mark

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The Deutsche Mark (German: [ˈdɔʏtʃə ˈmaʁk] ; 'German mark'), abbreviated "DM" or "D-Mark" ([ˈdeːˌmaʁk] ), was the official currency of the Federal Republic Of Germany from 1948 until the adoption of the euro in 2002. In English, it was typically called the "Deutschmark" ( DOYTCH-mark). One Deutsche Mark was divided into 100 pfennigs. From July 1990, East Germany also used the DM until acceding to the smaller FRG commonly called West Germany on 3 October, after which the unified country is called Germany. The Deutschmark was first issued in a surprise move under Allied occupation in 1948 to replace the Reichsmark. It served as the Federal Republic of Germany's official currency from its founding the following year. On 31 December 1998, the Council of the European Union fixed the irrevocable exchange rate, effective 1 January 1999, for German mark to euros as DM 1.95583 = €1. In 1999, the Deutsche Mark was replaced by the euro; its coins and banknotes remained in circulation, defined in terms...

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