What currency did the euro replace in Germany?

What currency did the euro replace in Germany? The answer is the Deutsche Mark.

The Deutsche Mark, commonly called the D-Mark or DM, was Germany’s national currency before the euro cash changeover. It was introduced in the western occupation zones on 20 June 1948 during a currency reform, replacing the severely devalued Reichsmark. After German reunification, it also became the currency of the former East Germany in 1990.

The euro replaced the Deutsche Mark in two stages. On 1 January 1999, the euro became Germany’s accounting and electronic currency, while prices and cash transactions still used marks. On 1 January 2002, euro banknotes and coins became legal tender and the D-Mark ceased to be legal tender, although a short dual-use period allowed some cash payments in both currencies until 28 February.

The conversion rate was fixed at €1 = DM 1.95583. Unlike some former national currencies, Deutsche Mark banknotes and coins can still be exchanged indefinitely and without charge at German Bundesbank branches. The Italian lira, French franc and Austrian schilling were replaced in their own countries, not Germany.