why the value of german currency (mark) fell?
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Answered by
8
The German Mark (DEM), also known as the Deutsche Mark, was the official currency of Germany. It was replaced by the Euro in 1999. Deutsche Mark banknotes and coins stayed in circulation until 2002. The Deutsche Bundesbank guaranteed indefinite exchange of German Mark cash to Euros. The Deutsche Mark was subdivided to pfennings; 100 pfennings = 1 German Mark.
Economy
The German economy is rated as the largest economy in Europe.In 2009, Germany exported 750 billion Euros worth of goods.The main industries are cement, steel, vehicles, textiles, shipbuilding, and coal.Export products are textiles, foodstuffs, metals, chemicals, machinery, and vehicles.Import products are metals, foodstuffs, machinery, textiles, and vehicles.The unemployment rate is 6.1%.The country relies on the service industry, accounts for 67.8% of the GDP income.The main products produced in Germany are engineering products.Agriculture, forestry, and mining account for only 9% of the GDP.Some of the largest international trade fairs and congresses are held in Germany.Germany’s wind and solar power technology is rated the best in the world.Natural resources for Germany are brown coals, gas, and oil.
History
From 1948 to 1990, the Deutsche Mark was the official currency of West Germany.From 1990 to 2002 the Deutsche Mark was the official currency for all of Germany.Four series of Deutsche Mark banknotes were used after from 1948.In 1998 the German mark was fixed to the Euro.In 1999 the Mark was replaced by the Euro, but Deutsche Mark banknotes and coins remained in circulation until 2002.
Economy
The German economy is rated as the largest economy in Europe.In 2009, Germany exported 750 billion Euros worth of goods.The main industries are cement, steel, vehicles, textiles, shipbuilding, and coal.Export products are textiles, foodstuffs, metals, chemicals, machinery, and vehicles.Import products are metals, foodstuffs, machinery, textiles, and vehicles.The unemployment rate is 6.1%.The country relies on the service industry, accounts for 67.8% of the GDP income.The main products produced in Germany are engineering products.Agriculture, forestry, and mining account for only 9% of the GDP.Some of the largest international trade fairs and congresses are held in Germany.Germany’s wind and solar power technology is rated the best in the world.Natural resources for Germany are brown coals, gas, and oil.
History
From 1948 to 1990, the Deutsche Mark was the official currency of West Germany.From 1990 to 2002 the Deutsche Mark was the official currency for all of Germany.Four series of Deutsche Mark banknotes were used after from 1948.In 1998 the German mark was fixed to the Euro.In 1999 the Mark was replaced by the Euro, but Deutsche Mark banknotes and coins remained in circulation until 2002.
Answered by
109
The Weimar Republic faced violent uprisings from various groups, not to mention devastating economic problems. The German state was financially declined due to overwhelming war debts which had to be paid in gold. Consequently, god reserves depleted and value of German mark fell.
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