The Deutsche Mark (German: [ˈdɔʏtʃə ˈmaʁk] (listen); English: German mark), abbreviated "DM" or "D-Mark" ([ˈdeːˌmaʁk] (listen)), 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. In English, it was typically called the "Deutschmark" (//). One Deutsche Mark was divided into 100 pfennigs.
|Deutsche Mark (German)|
Marka Gjermane (Albanian)
Njemačka marka / Немачка марка (Serbo-Croatian)
|Freq. used||DM5, DM10, DM20, DM50, DM100, DM200|
|Rarely used||DM500, DM1,000|
|Freq. used||1pf, 2pf, 5pf, 10pf, 50pf, DM1, DM2, DM5|
|Official user(s)||None previously|
|Central bank||Deutsche Bundesbank|
|Inflation||1.4%, December 2001|
|Pegged by||Bosnia and Herzegovina convertible mark, Bulgarian lev at par|
|Since||13 March 1979|
|Fixed rate since||31 December 1998|
|Replaced by €, non cash||1 January 1999|
|Replaced by €, cash||1 March 2002|
|€ =||DM 1.95583|
This infobox shows the latest status before this currency was rendered obsolete.
It was first issued under Allied occupation in 1948 to replace the Reichsmark and 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 of euros, until the introduction of euro notes and coins on 1 January 2002. The Deutsche Mark ceased to be legal tender immediately upon the introduction of the euro—in contrast to the other eurozone nations, where the euro and legacy currency circulated side by side for up to two months. Mark coins and banknotes continued to be accepted as valid forms of payment in Germany until 28 February 2002.
The Deutsche Bundesbank has guaranteed that all German marks in cash form may be changed into euros indefinitely, and one may do so in person at any branch of the Bundesbank in Germany. Banknotes and coins can even be sent to the Bundesbank by mail. In 2012, it was estimated that as many as 13.2 billion marks were in circulation, with one poll from 2011 showing a narrow majority of Germans favouring the currency's restoration (although only a minority believed this would bring any economic benefit).