The Deutsche Mark (German pronunciation: [ˈdɔʏtʃə ˈmaʁk]; abbreviated "DM") was the official currency of West Germany (1948–1990) and Germany (1990–2002) until the adoption of the euro in 2002. It is commonly called the "Deutschmark" in English but not in German. Germans often say "Mark" or "D-Mark". It was first issued under Allied occupation in 1948 replacing the Reichsmark, and served as the Federal Republic of Germany's official currency from its founding the following year until 1999, when the mark was replaced by the euro.
One Deutsche Mark was divided into 100 pfennigs.
Obverse: Portrait of a young Venetian woman ("Junge Venezianerin") (1505) by Albrecht Dürer. Oil on elm panel. Kunsthistorisches Museum, Vienna, Austria
Reverse: Oak sprig
The German mark had a reputation as one of the world's most stable currencies; this was based on the monetary policy of the Bundesbank. The policy was "hard" in relation to the policies of certain other central banks in Europe. The "hard" and "soft" was in respect to the aims of inflation and political interference. This policy was the foundation of the European Central Bank's present policy towards the euro.
Before the switch to the euro, the mark was considered a major international reserve currency, second only to the United States dollar.
Watermark: Young Venetian woman by A. Dürer.
Many thanks to Michael P. from Germany.
