East German Mark


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East German Mark

The currency of the former East Germany. It was in use between 1948 and 1990, when it was theoretically pegged to the (West German) deutschemark at par, but it was largely inconvertible. After German reunification in 1990, the deutschmark replaced the East German mark.
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References in periodicals archive ?
Aa On countless occasions I was approached with whispers in my ears to swap dollars for East German marks on the black market.
In 1990, Kohl acted with uncharacteristic boldness to reunify his country, welding the two uneven sides of Germany with his decision to swap worthless East German marks for rock-solid Deutsch marks at a rate of one to one.
Sales were based on East German marks at a supposed exchange rate of 1.