Tuesday, February 14, 2023

What Was the Exchange Rate of the East German Ostmark for the West German D-Mark?

 One to one.

Prior to the Wall coming down....if you were walking around East Germany and wanted to exchange D-Marks....the rate was generally five to ten Ostmarks....to buy one single D-Mark.

There was some discussion after the Wall came down and the fairness rule created....was that it'd be a one-to-one exchange.  

In the end...East Germans brought in 431-billion Ostmarks, and were given D-Marks.  Yeah, you could say that the true value here was crap, but that was among forty-odd things done to make it fair.  431-billion D-Marks were more or less invented out of thin air, in the end.  

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