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TheReichsmark(German:[ˈʁaɪçsˌmaʁk] ;sign:ℛ︁ℳ︁;abbreviation:RM) was thecurrencyofGermanyfrom 1924 until the fall ofNazi Germanyin 1945, and in theAmerican, British and French occupied zones of Germany,until 20 June 1948. The Reichsmark was then replaced by theDeutsche Mark,to become the currency ofWest Germanyand then all of Germany after the 1990 reunification. The Reichsmark was used in theSoviet occupation zone of Germanyuntil 23 June 1948, where it was replaced by theEast German mark.The Reichsmark was subdivided into 100Reichspfennig(Rpf or ℛ︁₰).[1]TheMarkis an ancient Germanic weight measure, traditionally a half pound, later used for several coins;Reich(empirein English) comes from the official name for the German state from 1871 to 1945,Deutsches Reich.
Unit | |
---|---|
Plural | Reichsmark |
Symbol | ℛ︁ℳ︁ |
Denominations | |
Subunit | |
1⁄100 | Reichspfennig |
Plural | |
Reichspfennig | Reichspfennig |
Banknotes | 5 ℛ︁ℳ︁, 10 ℛ︁ℳ︁, 20 ℛ︁ℳ︁ 50 ℛ︁ℳ︁, 100 ℛ︁ℳ︁, 1,000 ℛ︁ℳ︁ |
Coins | 1 ℛ︁₰, 2 ℛ︁₰, 5 ℛ︁₰, 10 ℛ︁₰, 50 ℛ︁₰, 1 ℛ︁ℳ︁, 2 ℛ︁ℳ︁, 5 ℛ︁ℳ︁ |
Demographics | |
Date of introduction | 1924 |
Replaced | German Rentenmark |
Date of withdrawal |
|
Replaced by |
|
User(s) | |
Issuance | |
Central bank | Reichsbank |
Valuation | |
Pegged by | Belgian franc,Bohemian and Moravian koruna,Bulgarian lev,Danish krone,French franc,Italian lira,Luxembourg franc,Dutch gulden,Norwegian krone,Polish złoty,Serbian dinar,Slovak koruna (1939–1945),Ukrainian karbovanetsinWorld War IIas similar rates |
This infobox shows the latest status before this currency was rendered obsolete. |
History
editThe Reichsmark was introduced in 1924 as a permanent replacement for thePapiermark.This was necessary due to the1920s German inflationwhich had reached its peak in 1923. The exchange rate between the oldPapiermarkand the Reichsmark was 1 ℛ︁ℳ︁ = 1012 ℳ︁(one trillion in American English and French, one billion in German and other European languages and British English of the time; seelong and short scale). To stabilize the economy and to smooth the transition, thePapiermarkwas not directly replaced by the Reichsmark, but by theRentenmark,an interim currency backed by theDeutsche Rentenbank,owning industrial and agricultural real estate assets. The Reichsmark was put on thegold standardat the rate previously used by theGerman mark,with theU.S. dollarworth 4.20 ℛ︁ℳ︁.[2]
Expansion outside the Reichsmark
editDuring this period a number ofshell companieswere created and authorized to issue bonds outside the Reichsmark in order to finance state projects.[3]Nominally exchangeable at a 1:1 rate for Reichsmarks but then discounted by the Reichsbank this created secret monetary expansion without formally renouncing the gold standard of the Reichsmark.[4]
World War II
editWith theannexationof theFederal State of Austriaby Germany in 1938, the Reichsmark replaced theAustrian schilling.During theSecond World War,Germany established fixed exchange rates between the Reichsmark and the currencies of theoccupiedandallied countries,often set so as to give economic benefits to German soldiers and civilian contractors, who were paid their wages in local currency. The rates were as follows:
Currency | Date set | Value per 10 ℛ︁ℳ︁ |
---|---|---|
Belgian franc | May 1940 | Fr100 |
July 1940 | Fr125 | |
Bohemia and Moravia crown | April 1939 | K100 |
Bulgarian lev | 1940 | Lev333.33 |
Danish crown | 1940 | DKr10 |
French franc | May 1940 | Fr200 |
Italian lira | 1943 | Lit100 |
Luxembourg franc | May 1940 | Fr40 |
July 1940 | Fr100 | |
Dutch guilder | 10 May 1940 | ƒ6.66 |
17 July 1940 | ƒ7.57 | |
Norwegian crown | 1940 | NKr13.33 |
? | NKr17.50 | |
Polish zloty | 1939 | zl20 |
Sterling(Channel Islands) | 1940 | £017s4+1⁄2d |
Croatian kuna | April 1941 | Kn200 |
Slovak crown | 1939 | Sk100 |
1 October 1940 | Sk116.20 | |
Finnish mark | 1941 | FMk197.44 |
Post-war
editAfter theSecond World War,the Reichsmark continued to circulate in Germany, but with new banknotes (Allied Occupation Marks) printed in the US and in theSoviet Zone,as well as with coins (withoutswastikas). Inflation in the final months of the war had reduced the value of the Reichsmark from 2.50 ℛ︁ℳ︁ = $1US to 10 ℛ︁ℳ︁ = $1US and a barter economy had emerged due to the rapid depreciation. The Reichsmark was replaced by theDeutsche Markat a rate of 10:1 (1:1 for cash and current accounts) in June 1948 in theTrizone[5]and later in the same year by theEast German markin the Soviet Occupation Zone (colloquially also "Ostmark", since 1968 officially "Mark der DDR"). The 1948 currency reform under the direction ofLudwig Erhardis considered the beginning of theWest German economic recovery;however, the secret plan to introduce the Deutsche Mark in the Trizone was formulated by economistEdward A. Tenenbaumof theUS military government,and was executed abruptly on 21 June 1948. Three days later, the new currency also replaced the Reichsmark in thethree Western sectors of Berlin.In November 1945, the Reichsmark was superseded by the Second Austrianschillingin Austria. In 1947, theSaar mark,later replaced with theSaar franc,was introduced in theSaar.[6]
Coins
editDenominations
editIn 1924, coins were introduced in denominations of1 ℛ︁₰,2 ℛ︁₰,5 ℛ︁₰,10 ℛ︁₰, and50 ℛ︁₰,and 1 ℳ︁ and 3 ℳ︁.[7]
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Prewar bronze 1 ℛ︁₰ (reverse). Made of pure bronze
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Prewar 5 ℛ︁₰ (reverse). Made of aluminium-bronze
-
Prewar 10 ℛ︁₰ (reverse). Struck in the same aluminium-bronze as the 5 ℛ︁₰.
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Prewar 10 ℛ︁₰ (obverse)
-
Wartime zinc 1 Reichspfennig (reverse)
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Wartime zinc 5 Reichspfennig (reverse)
-
Wartime zinc 10 Reichspfennig (reverse)
-
Aluminum 50 Reichspfennig coin (reverse)
4Reichspfennig
edit4 Reichspfennigcoins were issued in 1932 as part of a failed attempt by theReichskanzlerHeinrich Brüningto reduce prices through use of 4 ℛ︁₰ pieces instead of 5 ℛ︁₰ coins. Known as theBrüningtalerorArmer Heinrich('poor Heinrich'), they were demonetized the following year. SeeBrüningtaler(in German).The quality of the Reichsmark coins decreased more and more towards the end of World War II and misprints happened more frequently.[8][9]Since the 4 ℛ︁₰ coin was only slightly larger than the 1 ℳ︁ coin and the imperial eagle looked similar, an attempt was made to pass it off as a 1-reichsmark coin by silvering the 4 ℛ︁₰ coin.[10]
10Reichspfennig
editValue | 10Reichspfennig |
---|---|
Mass | 3.52 g |
Diameter | 21 mm |
Thickness | 1.5 mm |
Edge | Plain |
Composition | 100%Zn |
Years of minting | 1940–1945 |
Obverse | |
Design | Reichsadlerwithswastika. Lettering: Deutsches Reich 1940 |
Reverse | |
Design | Denominationand two oak leaves.Mintmarkbelow the denomination and between leaves. Lettering: 10 Reichspfennig J |
The zinc10Reichspfennigcoin was minted byNazi Germanybetween 1940 and 1945 during World War II, replacing the aluminium-bronze version, which had a distinct golden colour. It is worth1⁄10or.10 of a Reichsmark. Made entirely ofzinc,the 10 ℛ︁₰ is an emergency issue type, similar to the zinc 1 ℛ︁₰ and5 ℛ︁₰,and thealuminium50 ℛ︁₰coins from the same period.
Mint marks
editNazi Germany had a number of mints. Each mint location had its own identifiable letter. It is therefore possible to identify exactly which mint produced what coin by noting the mint mark on the coin. Not all mints were authorized to produce coins every year. The mints were also only authorized to produce a set number of coins with some mints allocated a greater production than others. Some of the coins with particular mint marks are therefore scarcer than others. With the silver 2 ℛ︁ℳ︁ and 5 ℛ︁ℳ︁ coins, the mint mark is found under the date on the left side of the coin. On the smaller denomination Reichspfennig coins, the mint mark is found on the bottom center of the coin.[11]
Mint mark | Mint location | Notes | References |
---|---|---|---|
A | State MintBerlin,Germany | Capital of Germany | [11] |
B | Austrian MintVienna,Austria | Capital of Austria | [11] |
D | Bavarian Central MintMunich,Germany | Capital of Bavaria | [11] |
E | Muldenhütten Mint nearDresden,Germany | Capital of Saxony | [11] |
F | State MintStuttgart,Germany | Capital of Württemberg | [11] |
G | State MintKarlsruhe,Germany | Capital of Baden | [11] |
J | Mint ofHamburg,Germany | [11] |
Mintage
editYear | Mintage | Notes |
---|---|---|
1940 A | 212,948,000 | |
1940 B | 76,274,000 | |
1940 D | 45,434,000 | |
1940 E | 34,350,000 | |
1940 F | 27,603,000 | |
1940 G | 27,308,000 | |
1940 J | 41,678,000 |
Year | Mintage | Notes |
---|---|---|
1941 A | 240,284,000 | |
1941 B | 70,747,000 | |
1941 D | 77,560,000 | |
1941 E | 36,548,000 | |
1941 F | 42,834,000 | |
1941 G | 28,765,000 | |
1941 J | 30,525,000 |
Year | Mintage | Notes |
---|---|---|
1942 A | 184,545,000 | |
1942 B | 16,329,000 | |
1942 D | 40,852,000 | |
1942 E | 18,334,000 | |
1942 F | 32,690,000 | |
1942 G | 20,295,000 | |
1942 J | 29,957,000 |
Year | Mintage | Notes |
---|---|---|
1943 A | 157,357,000 | |
1943 B | 11,940,000 | |
1943 D | 17,304,000 | |
1943 E | 10,445,000 | |
1943 F | 24,804,000 | |
1943 G | 3,618,000 | Rare |
1943 J | 1,821,000 | Rare |
Year | Mintage | Notes |
---|---|---|
1944 A | 84,164,000 | |
1944 B | 40,781,000 | |
1944 D | 30,369,000 | |
1944 E | 29,963,000 | |
1944 F | 19,639,000 | |
1944 G | 13,023,000 |
Year | Mintage | Notes |
---|---|---|
1945 A | 7,112,000 | Rare |
1945 E | 4,897,000 | Rare |
Banknotes
editThe first Reichsmark banknotes were introduced by theReichsbankand state banks such as those ofBavaria,SaxonyandBaden.The first Reichsbank issue of 1924 came in denominations of 10 ℛ︁ℳ︁, 20 ℛ︁ℳ︁, 50 ℛ︁ℳ︁, 100 ℛ︁ℳ︁, and 1,000 ℛ︁ℳ︁. This was followed by a second issue in the same denominations, dated between 1929 and 1936. The second issue commemorated persons who made contributions to German agriculture, industry, economy, science, and architecture: 10 ℛ︁ℳ︁ issued in 1929 commemorated agronomistAlbrecht Thaer;20 ℛ︁ℳ︁ issued in 1929 commemorated engineer, inventor, and industrialistWerner von Siemens;50 ℛ︁ℳ︁ issued in 1933 commemoratedPrussianpolitician and bankerDavid Hansemann;100 ℛ︁ℳ︁ issued in 1935 commemorated chemist and "father of fertilizer industry"Justus von Liebig;1,000 ℛ︁ℳ︁ issued in 1936 commemoratedPrussianarchitectKarl Friedrich Schinkel.
A newer version of 20 ℛ︁ℳ︁ note was introduced in 1939, using a design taken from an unissued AustrianS100 banknote type. 5 ℛ︁ℳ︁ notes were issued in 1942. Throughout this period, the Rentenbank also issued banknotes denominated in Rentenmark, mostly in RM 1 and RM 2 denominations.
In preparation for the occupation of Germany, the United States issued occupation banknotes dated 1944, printed by the Forbes Lithograph Printing Company of Boston. These were printed in similar colours with different sizes for groups of denominations. Notes were issued for1⁄2 ℳ︁, 1 ℳ︁, 5 ℳ︁, 10 ℳ︁, 20 ℳ︁, 50 ℳ︁, 100 ℳ︁, and 1,000 ℳ︁. The issuer was theAlliierte Militärbehörde('Allied military authorities') withIn Umlauf gesetzt in Deutschland('in legal circulation in Germany') printed on the obverse.
These notes were convertible to US dollars at a rate of 10:1. Seeing an opportunity to procure foreign hard currency, theSoviet Uniondemanded copies of the engraving plates, ink, and associated equipment in early 1944, and on 14 April 1944Henry MorgenthauandHarry Dexter Whiteof theU.S. Treasury Departmentauthorized the air transfer of these to the USSR. Using a printing plant in occupiedLeipzig,the Soviet authorities printed large runs of occupation marks to fill Soviet coffers with dollars causing inflation and financial instability. An investigation by theUnited States Congress(Occupation Currency Transactions Hearings before the Committee on Appropriations, Armed Services and Banking and Currency,U.S. Senate,1947) found that about $380,000,000 "more currency than there were appropriations for" had been circulated.
In 1947Rhineland-Palatinateissued 5₰ and 10₰ notes withGeldscheinon them.
-
20 ℛ︁ℳ︁, 1924
-
10 ℛ︁ℳ︁, 1929
-
20 ℛ︁ℳ︁, 1929
Occupation Reichsmark
editCoins and banknotes for circulation in the occupied territories during the war were issued by theReichskreditkassen.Holed, zinc coins in 5 ℛ︁₰ and 10 ℛ︁₰ denominations were struck in 1940 and 1941. Banknotes were issued between 1939 and 1945 in denominations of 50 ℛ︁₰, 1 ℛ︁ℳ︁, 2 ℛ︁ℳ︁, 5 ℛ︁ℳ︁, 20 ℛ︁ℳ︁, and 50 ℛ︁ℳ︁. These served as legal tender alongside the currency of the occupied countries.
The coins were originally planned in great numbers of 100 million and 250 million each of the 5 ℛ︁₰ and 10 ℛ︁₰ coins respectively. The first embossing order, which was issued in April 1940, was about 40 million × 5 ℛ︁₰ and 100 million × 10 ℛ︁₰. The total amount was divided between each of the seven German mints after the embossing key of 1939. The contract was stopped in August 1940 as the Wehrmacht, which had requested the coins for Belgium and France, had no more need of it. When the embossing stopped, only Berlin ( "A" ) and Munich ( "D" ) produced significant quantities, but they still came to only a small extent of original production plans. The majority were melted down due to the limited supply of metal and thus, most mint marks are now quite rare (except for 1940 5 A and D, and 1940 10 A).
-
Currency of the occupied countries (1940 10 J)
-
Currency of the occupied countries (1940 5 B)
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50 ℛ︁₰, 1938–1945
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1 ℛ︁ℳ︁, 1938–1945
-
2 ℛ︁ℳ︁, 1938–1945
-
5 ℛ︁ℳ︁, 1938–1945
-
20 ℛ︁ℳ︁, 1938–1945
-
50 ℛ︁ℳ︁, 1938–1945
Concentration camp and POW Reichsmark currency
editVarious special issues of Reichsmark currency were issued for use inconcentrationandprisoner of war(POW) camps (Stalag). None were legal tender in Germany itself. From 1942 to 1943 tokens were struck for use within theŁódź Ghetto.[13][citation needed]
Military Reichsmark currency
editSpecial issues of Reichsmark currency were issued for use by theWehrmachtfrom 1942 to 1944. The first issue was denominated in 1 ℛ︁₰, 5 ℛ︁₰, 10 ℛ︁₰, and 50 ℛ︁₰ and 1 ℛ︁ℳ︁, but was valued at 1 military Reichspfennig = 10 civilian Reichspfennig. This series was printed on only one side. The second issue notes of 1 ℛ︁ℳ︁, 5 ℛ︁ℳ︁, 10 ℛ︁ℳ︁, and 50 ℛ︁ℳ︁ were equal in value to the ordinary German Reichsmark and were printed on both sides.
The 5 Mark note pictured, front and back, is Allied military currency ( "AMC" ) printed at Forbes Lithograph Manufacturing Company in Boston for occupied Germany. There were different AMCs for each liberated area of Europe.[14]
See also
edit- Öffa bills1932 German government promissory notes
- MEFOFinancial instrument used to finance Nazi German rearmament
- AM-Mark
- Pictorial list of postage stamps in Nazi Germany
References
edit- ^"Reichspfennig – Schreibung, Definition, Bedeutung, Synonyme, Beispiele".DWDS(in German). 2023-02-14.Retrieved2024-06-23.
- ^Kofner, Yuri (2023-01-03)."MIWI Institute – 150 years of German monetary history".MIWI Institute.Retrieved2024-06-23.
- ^Bastisch, Andre (2007).Arbeitsbeschaffungsmaßnahmen im Dritten Reich von 1933-1936.GRIN Verlag.ISBN978-3-638-68655-6.OCLC724193260.
- ^Kopper, Christopher (April 1998)."Banking in National Socialist Germany, 1933–39".Financial History Review.5(1): 49–62.doi:10.1017/s0968565000001414.ISSN0968-5650.S2CID154770245.
- ^"The Deutsche Mark and its Legacy".ThoughtCo.Retrieved2024-06-23.
- ^"Law 1947-2158 of 15 November 1947".Journal Officiel de la République Française(in French) (1947–268): 11294. 15 November 1947.Retrieved21 October2020.
- ^"worldcoingallery.com/countries/Germany_all3.html".World Coin Gallery.Retrieved2024-06-23.
- ^Matthias Kordes:Die Geschichte der Münzen in Westfalen von 1855–2005.In: Sparkasse Vest Recklinghausen (Hrsg.):150 Jahre Sparkasse Vest Recklinghausen. Gut für die Region.Sparkasse Vest Recklinghausen, Recklinghausen
- ^Dieter Petzina:Hauptprobleme der deutschen Wirtschaftspolitik 1932/33.In:Vierteljahrshefte für Zeitgeschichte.1967, 15. Jahrgang, Heft 1, S. 18–55 (PDF).
- ^Ausgabe neuer Reichskupfermünzen zu 4 Reichspfennig.In:Die Fahrt,hrsg:Berliner Verkehrs-Aktiengesellschaft,4. Jg., Nr. 7 (1. April 1932), S. 49
- ^abcdefgh"Nazi Germany Coin Mint Marks".Archived fromthe originalon 2017-12-11.Retrieved2013-01-16.
- ^"10 Reichspfennig - Germany - 1871-1948 - Numista".Numista.Retrieved2013-01-16.
- ^"Lodz Ghetto Token Coinage".www.pcgs.com.Archived fromthe originalon 2018-03-01.Retrieved2018-03-01.
- ^"Allied Military Currency".Strictly G.I. Archived fromthe originalon 6 January 2009.Retrieved18 March2015.
- Krause, Chester L.; Clifford Mishler (1991).Standard Catalog of World Coins:1801–1991(18th ed.). Krause Publications.ISBN0873411501.
- Pick, Albert (1994).Standard Catalog of World Paper Money:General Issues.Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications.ISBN0-87341-207-9.
Further reading
edit- Ahamed, Liaquat(2009).Lords of Finance: The Bankers Who Broke the World.Penguin Books.ISBN978-1-59420-182-0.
External links
edit- Weimar coins(in English)
- Third Reich coins(in English)
- Weimar coins(in Russian)
- Third Reich coins(in Russian)
- Historical Currency Conversion Tables, Reichsmarks to Dollars, 1870s–2012
Preceded by: Rentenmark Reason:hyperinflation Ratio:1 Rentenmark = 1,000,000,000,000 Papiermark, and 4.2 Rentenmark =US$1 |
Currency of Germany (Weimar Republicborders) 1924 – 1948 Note:In parallel withRentenmark |
Succeeded by: East German Mark Reason:reaction to the changeover inTrizone(later West Germany andWest Berlin) Ratio:1 Mark = 7 Rentenmark on the first 70 Rentenmark for private individuals, otherwise 1 Kuponmark = 10 Rentenmark |
Succeeded by: Deutsche Mark Reason:intended to protect West Germany from the second wave ofhyperinflationand stop the rampant barter andblack markettrade Ratio:1 Deutsche Mark = 1 Rentenmark for first 600 ℛ︁ℳ︁, 1 Deutsche Mark = 10 Rentenmark thereafter, plus each person received 40 Deutsche Mark | ||
Succeeded by: Polish złoty Reason:Transfer of the "Recovered Territories"toPoland Ratio:None | ||
Succeeded by: Soviet ruble Reason:Transfer of modernKaliningrad OblasttoSoviet Union Ratio:None | ||
Preceded by: French franc Reason:annexation toGermany Ratio:? |
Currency ofSaarland 1935 – 1947 Note:In parallel withRentenmark |
Succeeded by: Saar mark Reason:creation of theprotectorate Ratio:? |
Preceded by: Austrian schilling Reason:annexation to Germany Ratio:1 Mark = 1.5 Schilling |
Currency of Austria 1938 – 1945 Note:In parallel withRentenmark |
Succeeded by: Austrian schilling Reason:restoration of independence Ratio:1:1 for first 150 Schilling |
Preceded by: Czechoslovak koruna Reason:annexation toGermany Ratio:? |
Currency ofSudetenland 1938 – 1945 Note:In parallel withRentenmark |
Succeeded by: Czechoslovak koruna Reason:re-integration toCzechoslovakia Ratio:? |
Preceded by: Lithuanian litas Reason:annexation toGermany Ratio:1 Mark = 2.5 litas |
Currency ofKlaipėda(Memel) 1939 – 1945 Note:In parallel withRentenmark |
Succeeded by: Soviet ruble Reason:re-integration toSoviet Union Ratio:? |
Preceded by: Danzig gulden Reason:annexation toGermany Ratio:1 Mark = 1.43 Gulden |
Currency of theFree City of Danzig 1939 – 1945 Note:In parallel withRentenmark |
Succeeded by: Polish złoty Reason:annexation toPoland Ratio:? |
Preceded by: Polish złoty Reason:annexation toGermany Ratio:1 Mark = 2 złote |
Currency ofPolish areas annexed by Nazi Germany 1939 – 1945 |
Succeeded by: Polish złoty Reason:re-integration toPoland Ratio:? |
Preceded by: Belgian franc Reason:annexation toGermany Ratio:1 Mark = 12.5 franc |
Currency ofEupen-Malmedy 1940 – 1945 Note:In parallel withRentenmark |
Succeeded by: Belgian franc Reason:re-integration to Belgium Ratio:1 Mark = 12.5 franc |
Preceded by: Luxembourgish franc Reason:annexation toGermany Ratio:1 Mark = 10 Franc |
Currency ofLuxembourg 1940 – 1945 Note:In parallel withRentenmark |
Succeeded by: Belgian franc Luxembourgish franc Reason:restoration of independence Ratio:? |
Preceded by: French franc Reason:annexation toGermany Ratio:? |
Currency ofAlsace-Lorraine 1940 – 1945 Note:In parallel withRentenmark |
Succeeded by: French franc Reason:re-integration to France Ratio:? |
Preceded by: Yugoslav dinar Reason:annexation toGermany Ratio:1 Mark = 20 dinars |
Currency of northernSlovenia 1941 – 1945 Note:In parallel withRentenmark |
Succeeded by: Yugoslav dinar Reason:re-integration toYugoslavia Ratio:? |
Preceded by: Italian lira Reason:annexation toGermany Ratio:? |
Currency of southernSlovenia 1943 – 1945 Note:In parallel withRentenmark |
Succeeded by: Yugoslav dinar Reason:re-integration toYugoslavia Ratio:? |
Preceded by: Soviet ruble Reason:annexation toRomania Ratio:? |
Currency ofTransnistria 1941 – 1945 |
Succeeded by: Soviet ruble Reason:re-integration toSoviet Union Ratio:? |