1948: The introduction of Deutsche Mark (DM) in West Germany

1948: The introduction of Deutsche Mark (DM) in West Germany
Photo Credit To Wikipedia Commons/A 10 Deutsche Mark banknote from Germany 1999 showing Carl Friedrich Gauss

Story Highlights

  • Historical event
  • 20 June 1948
  • The Soviets were against this process and their reaction vas fierce. It is particularly interesting that the famous Soviet blockade of Berlin started just four days after the introduction of the German mark.

On this day, in 1948, the introduction of the German mark (Deutsche Mark – DM) as currency in the western part of Germany began.

Earlier, the German tender was Reichsmark (RM), which was introduced in 1924, after inflation.

Reichsmark was the official currency during the government of Adolf Hitler, during World War II. After the war ended, Germany was occupied by the Allies and currency has become problematic.

For example, the Soviets printed large amounts of marks, which decreased its value. As a result, American cigarettes were used as currency.

In order to strengthen the German monetary system, Deutsche Mark (DM) was introduced within the area occupied by the Western powers The Soviets were against this process and their reaction vas fierce.

It is particularly interesting that the famous Soviet blockade of Berlin started just four days after the introduction of the German mark.

German Mark, as well as the famous Marshall Plan, has greatly contributed to the economic recovery of Germany after the war.

German Mark became known as one of the most stable currencies in the world and remained the official currency until the adoption of the euro in 2002

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