page_title: East German mark
section_title: International exchange
hierarchical_section_title: East German mark / Currency reform / International exchange
caption_attribution_description: For documentary purposes the German Federal Archive often retained the original image captions, which may be erroneous, biased, obsolete or politically extreme. Mark der DDR, 20 Mark, Gedenkmünze ADN-ZB Repro 8.4.83-Bl-Berlin: Marx-Münze-Zur Ehrung von Karl Marx gibt die Staatsbank der DDR eine Gedenkmünze zu 20 Mark in Umlauf. Sie hat einen Durchmesser von 33 Millimetern, eine Masse von 15 Gramm und besteht aus einer Neusilberlegierung. Der Entwurf für diese Münze wurde von der Grafikerin Sneschana Russewa-Hoyer und dem Bildhauer Heinz Hoyer gestaltet-
context_page_description: The East German mark, commonly called the eastern mark, in East Germany only Mark, was the currency of the German Democratic Republic. Its ISO 4217 currency code was DDM. The currency was known officially as the Deutsche Mark from 1948 to 1964, Mark der Deutschen Notenbank from 1964 to 1967, and from 1968 to 1990 as the Mark der DDR. It was divided into 100 Pfennig.
context_section_description: The East German mark was officially valued by the East German government at parity with the (West German) Deutsche Mark. However, due to limited convertibility and a restricted export profile, it was practically worthless outside East Germany. The few East Germans able to visit the West often found themselves having to rely on their West German relatives as a result.
  Beginning in 1964, the East German government instituted a Zwangsumtausch (forced exchange) (or Mindestumtausch — minimum exchange), whereby most visitors from non-socialist foreign countries were required to exchange a set amount of Deutsche Mark (or other hard currencies) for East German marks at the ratio of one Deutsche Mark to one East German mark for every day of their stay. Starting on 13 October 1980, Western visitors to the GDR were required to exchange a minimum of 25 Deutsche Mark for East German marks per day. Some exceptions were authorized: for example, tourists who booked hotel stays in the GDR that were paid in hard currency were exempted from the minimum exchange requirements.  (Of course, such accommodation charges almost always exceeded the 25 mark daily exchange threshold.) At other times, West Berliners, retirees, children, and youth were granted either exemptions or were authorized reduced minimum exchange amounts.  Members of the Western Allied military forces stationed in West Berlin were also exempt from these rules when visiting East Berlin, in part because the Western Allies did not recognize the authority of the GDR to regulate the activities of their military personnel in East Berlin; only the Soviet Union was considered competent to do so.
  On the black market, the exchange rate was about 5 to 10 Mark der DDR to one Deutsche Mark. In the mid-1980s, one could easily visit foreign currency exchange offices in West Berlin and purchase East German banknotes (in denominations of 50 and 100 Mark der DDR) at the rate of 5 (East) = 1 (West).  However, the GDR forbade the import or export of East German currency (as well as currencies of other socialist countries) into or out of the GDR, and penalties for violation ranged from confiscation of smuggled currency to imprisonment.  The East German mark could not be spent in Intershops to acquire Western consumer goods; only hard currencies or Forum checks were accepted. As a result, the main purchasers of black market East German banknotes were Allied military personnel entering East Berlin, as they were exempt from East German customs inspection.
caption: 20 Mark coin featuring Karl Marx. Issued in 1983 to commemorate the 100th anniversary of his death
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