USA HISTORY

Detailed explanation-1: -The German mark, the Deutsche Mark (DM), was introduced in all the Western zones and replaced the Reichsmark, which had lost all its value. This monetary reform enabled the shops to be filled once again with goods that had, until then, only been obtainable on the black market.

Detailed explanation-2: -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.

Detailed explanation-3: -The Federal Republic of Germany, known commonly as West Germany, adopted the Deutschmark (DEM) formally in 1948 as its national currency. The D-mark was later used in reunified Germany until it was replaced in 2002 by the common euro currency.

Detailed explanation-4: -The euro banknotes and coins were introduced in Germany on 1 January 2002, after a transitional period of three years when the euro was the official currency but only existed as ‘book money’.

Detailed explanation-5: -The currency reform of June 20, 1948, introduced the Deutsche Mark (DM) in the Western occupation zones. As part of its launch, every resident was given start-up money in the amount of 40 DM. (A second installment of 20 DM was paid out later.)