Rentenmark
Sign in to saveThe Rentenmark (; RM) was a currency issued on 15 November 1923 to stop the hyperinflation of 1922 and 1923 in Weimar Germany, after the previously used Papiermark had become almost worthless. It was subdivided into 100 Rentenpfennig and was replaced in 1924 by the Reichsmark.
Key facts
- Currency.pegged_with
- United States dollar = RM 4.20, in turn 1,000,000,000,000ℳ = RM 1 (1 trillion short scale (US) or 1 billion long scale (UK pre-1974, Germany, much of Europe) = 1,000,000,000,000)
- Currency.local_name
- Rentenmark
- Currency.local_name_lang
- de
- Currency.image_1
- Rentenmark (front).jpg
- Currency.image_title_1
- One Rentenmark note
- Currency.subunit_name_1
- Rentenpfennig
- Currency.symbol
- RM
- Currency.symbol_subunit_1
- Rpf.
- Currency.plural
- Rentenmark
- Currency.plural_subunit_1
- Rentenpfennig
- Currency.used_coins
- 1 Rpf, 2 Rpf, 5 Rpf, 10 Rpf, 50 Rpf
- Currency.used_banknotes
- RM 1, RM 2, RM 5, RM 10, RM 50, RM 100, RM 500, RM 1,000
- Currency.issuing_authority
- Deutsche Rentenbank
- Currency.replaced_currency
- Papiermark
- Currency.replaced_by_currency
- Reichsmark
- Currency.obsolete
- 1948
via Wikipedia infobox
Article
6 sectionsContents
- History
- Coins
- Banknotes
- See also
- References
- External links
The Rentenmark (; RM) was a currency issued on 15 November 1923 to stop the hyperinflation of 1922 and 1923 in Weimar Germany, after the previously used Papiermark had become almost worthless. It was subdivided into 100 Rentenpfennig and was replaced in 1924 by the Reichsmark.
==History== After the Occupation of the Ruhr in early 1923 by French and Belgian troops, referred to as the Ruhrkampf, the German government of Wilhelm Cuno reacted by announcing a policy of passive resistance. This caused the regional economy of the Ruhr, the industrial heartland of Germany, to almost stop. The occupation authorities reacted to strikes and sabotage with arrests and deportations. Those displaced and left without income by the Ruhrkampf and their families fell back on public income support. Tax revenues plunged as economic activity slowed. The government covered its need for funds mainly by printing money. As a result, inflation spiked and the Papiermark went into freefall on the currency market. Foreign currency reserves at the Reichsbank dwindled.