The Deutsche Mark was introduced in Germany in 1948 to replace the nearly worthless Reichsmark.
The currency reform took place in the western occupation zones on 20 June 1948. Each resident initially received a limited amount of the new currency, while old Reichsmark holdings were converted under rules that reduced the money supply. The reform helped end the postwar monetary disorder that had made the Reichsmark unreliable.
The Deutsche Mark became the currency of the Federal Republic of Germany in 1949. The currency reform was accompanied by the removal of many price controls, a decision associated with a rapid revival of goods appearing in shops and markets.
The Deutsche Mark remained West Germany’s currency until the euro replaced it for accounting purposes in 1999 and for cash transactions in 2002. It should not be confused with the earlier Rentenmark, introduced in 1923 during Germany’s previous hyperinflation crisis.