DEFINITION of 'Deutschmark'

The official currency of Germany until Germany's adoption of the euro in 1999. The deutschmark replaced the Reichsmark in 1948, following the second World War. It was the currency of West Germany until reunification.

BREAKING DOWN 'Deutschmark'

Deutschmark coins and bank notes were left in circulation from 1999 until 2002, at which time they were taken out of circulation and ceased to be legal tender. The German central bank, the Deutsche Bundesbank, continues to allow the conversion of the deutschmark into euros.

The deutschmark was long-considered one of the most stable currencies, especially compared to the currencies of other European countries.

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