WORLD HISTORY

Detailed explanation-1: -A loaf of bread in Berlin that cost around 160 Marks at the end of 1922 cost 200, 000, 000, 000 Marks by late 1923. By November 1923, one US dollar was worth 4, 210, 500, 000, 000 German marks.

Detailed explanation-2: -In 1923, at the most fevered moment of the German hyperinflation, the exchange rate between the dollar and the Mark was one trillion Marks to one dollar, and a wheelbarrow full of money would not even buy a newspaper.

Detailed explanation-3: -A new currency, the Rentenmark, was introduced on November 20, 1923, in strictly limited quantities. It was backed by a mortgage on the entire industrial and agricultural resources of the country. The process of stabilization was painful but was pushed through with determination by Hjalmar Schacht, who was made…

Detailed explanation-4: -Nine years later, hyperinflation hit its peak in 1923. A loaf of bread in 1922, Germany cost 163 marks. In September 1923, it cost 1, 500, 000 marks and at the peak of German hyperinflation, a loaf of bread cost 200, 000, 000, 000 Marks.

Detailed explanation-5: -Even these very large numbers understate the rates of inflation experienced during the worst days of the hyperinflations. In October 1923, German prices rose at the rate of 41 percent per day.