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There was, once again, severe inflation in Germany. The Reichsmark was often not accepted and for many purposes cigarettes were used ... In June 1948 the Reichsmark (RM) was replaced by a new currency, the Deutsche Mark (DM), in the three Western Zones of occupation. RM were converted into DM at the rate of 10:1 on balances up to RM5,000 and 13.5:1 above that.

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16y ago

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