Deutschemark

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Deutschemark

The former currency of Germany. It was introduced in 1948, replacing the Reichsmark. It became one of the most important currencies in the world. For example, it was one of the currencies included in the basket that determined the value of Special Drawing Rights. After 1990, the deutschemark became the currency of the unified Germany. It was replaced by the euro in 1999 and ceased circulation in 2002.
References in periodicals archive ?
Analysis at the height of the crisis suggested that had the eurozone broken up, a neue deutsche mark would have gone up at least 40 percent and probably more.
For example, if our Nigerian company owes the German supplier DM10m and is concerned that the deutsche mark may strengthen against the naira or the dollar before payment is made, it will buy the deutsche mark at the spot rate today.
All other currencies devalued against the deutsche mark.
The dealer cannot convert the deutsche mark liability embedded in the swap into a U.
This would effectively have resulted in an upward revaluation of the German currency and would have automatically devalued the euro against the deutsche mark, thereby allowing the peripheral eurozone countries to achieve growth and debt repayment without the crushing austerity that has now driven unemployment to record levels.
The Deutsche mark was a symbol of West German stability and economic strength in the decades after World War Two and former Chancellor Helmut Kohl struggled to convince the public of the benefits of the euro in the 1990s before its introduction.
For the Deutsche Mark-to-dollar spot market as a whole, the authors find that net dollar purchases of $1 billion increase the Deutsche Mark price of a dollar by about one pfennig.
The Deutsche mark has become the de facto "pan-European" lead currency during the past 20 years.
dollar, but against the Deutsche mark and the Swiss franc.
This study tests that hypothesis by examining the causality (in the Granger sense) of the deutsche mark and West Germany's trade balance during the current floating exchange rate regimes.
Soros bet successfully that the pound was overvalued against the deutsche mark in 1992, culminating in the so-called Black Wednesday when British Prime Minister John Major was forced to pull the currency out of the European Exchange Rate Mechanism (ERM).

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