deutsche mark (DM)

The national currency unit, consisting of 100 pfennigs. The value of the deutsche mark has fluctuated with international monetary developments--generally upward since its introduction in the currency reform of 1948. The number of deutsche marks per US$1 averaged 4.20 in 1950, 4.20 in 1960, 4.00 in 1965, 3.65 in 1970, 2.62 in 1975, 1.96 in 1980, 2.94 in 1985, 1.62 in 1990, 1.56 in 1992, 1.65 in 1993, 1.64 in 1994, and 1.43 in 1995.