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In macroeconomics , hard currency , safe-haven currency , or strong currency is any globally traded currency that serves as a reliable and stable store of value . Factors contributing to a currency's hard status might include the stability and reliability of the respective state's legal and bureaucratic institutions, level of corruption , long-term stability of its purchasing power , the associated country's political and fiscal condition and outlook, and the policy posture of the issuing central bank .

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95-585: The East German mark ( German : Mark der DDR [ˈmaʁk deːɐ̯ ˌdeːdeːˈʔɛʁ] ), commonly called the eastern mark (German: Ostmark [ˈɔstmaʁk] ) in West Germany and after reunification ), in East Germany only Mark , was the currency of the German Democratic Republic (East Germany). Its ISO 4217 currency code was DDM . The currency was known officially as

190-460: A de facto official language of Namibia after the end of German colonial rule alongside English and Afrikaans , and had de jure co-official status from 1984 until its independence from South Africa in 1990. However, the Namibian government perceived Afrikaans and German as symbols of apartheid and colonialism, and decided English would be the sole official language upon independence, stating that it

285-402: A second language , and 75–100   million as a foreign language . This would imply the existence of approximately 175–220   million German speakers worldwide. German sociolinguist Ulrich Ammon estimated a number of 289 million German foreign language speakers without clarifying the criteria by which he classified a speaker. As of 2012 , about 90   million people, or 16% of

380-587: A "commonly used" language and the Pan South African Language Board is obligated to promote and ensure respect for it. Cameroon was also a colony of the German Empire from the same period (1884 to 1916). However, German was replaced by French and English, the languages of the two successor colonial powers, after its loss in World War I . Nevertheless, since the 21st century, German has become

475-658: A central bank may attempt to increase confidence in the local currency by pegging it against a hard currency , as is this case with the Hong Kong dollar or the Bosnia and Herzegovina convertible mark . This may lead to problems if economic conditions force the government to break the currency peg (and either appreciate or depreciate sharply) as occurred in the 1998–2002 Argentine great depression . In some cases, an economy may choose to abandon local currency altogether and adopt another country's currency as legal tender . Examples include

570-556: A greater need for regularity in written conventions. While the major changes of the MHG period were socio-cultural, High German was still undergoing significant linguistic changes in syntax, phonetics, and morphology as well (e.g. diphthongization of certain vowel sounds: hus (OHG & MHG "house") → haus (regionally in later MHG)→ Haus (NHG), and weakening of unstressed short vowels to schwa [ə]: taga (OHG "days")→ tage (MHG)). A great wealth of texts survives from

665-673: A hard currency, and in fact was the last paper currency in the world to terminate its convertibility to gold on 1 May 2000, following a referendum . In the summer of 2011, the European sovereign debt crisis led to rapid flows out of the euro and into the franc by those seeking hard currency, causing the latter to appreciate rapidly. On 6 September 2011, the Swiss National Bank announced that it would buy an "unlimited" number of euros to fix an exchange rate at 1.00 EUR = 1.20 CHF, to protect its trade. This action temporarily eliminated

760-492: A larger number for pensioners). Larger amounts of savings, company debts and housing loans were converted at a 2:1 rate whilst so-called "speculative money", acquired shortly before unification, was converted at a rate of 3:1. These inflated exchange rates were intended by the government of the Federal Republic of Germany as a massive subsidy for eastern Germany, and remain controversial among economists, with some arguing that

855-453: A native tongue today, mostly descendants of German colonial settlers . The period of German colonialism in Namibia also led to the evolution of a Standard German-based pidgin language called " Namibian Black German ", which became a second language for parts of the indigenous population. Although it is nearly extinct today, some older Namibians still have some knowledge of it. German remained

950-679: A popular foreign language among pupils and students, with 300,000 people learning or speaking German in Cameroon in 2010 and over 230,000 in 2020. Today Cameroon is one of the African countries outside Namibia with the highest number of people learning German. In the United States, German is the fifth most spoken language in terms of native and second language speakers after English, Spanish , French , and Chinese (with figures for Cantonese and Mandarin combined), with over 1 million total speakers. In

1045-524: 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. Upon adoption of the Deutsche Mark in East Germany on 1 July 1990, the East German Mark was converted at par for wages, prices and basic savings (up to a limit of M 4,000 per person, except a smaller number for children and

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1140-475: A result, the surviving texts are written in highly disparate regional dialects and exhibit significant Latin influence, particularly in vocabulary. At this point monasteries, where most written works were produced, were dominated by Latin, and German saw only occasional use in official and ecclesiastical writing. While there is no complete agreement over the dates of the Middle High German (MHG) period, it

1235-508: 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 Marks (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

1330-508: A volume of 4,500 m (160,000 cu ft), about 300 boxcars), including all the currency collected at the time of the monetary union and the never-used East German M200 and M500 banknotes, was placed into storage in 1990 and 1991 in two 300-metre (980 ft) long sandstone caverns in the Thekenberge near Halberstadt . In total, 3,000 tonnes of banknotes, passbooks, and checks were stored there, having been brought by military convoy from

1425-658: A wheat stalk atop a cogwheel, with aluminium-bronze 50pf coins added in 1950 depicting a factory. The 1952 series of the smaller coins depict a compass and hammer in addition to wheat. Starting with the 1pf in 1960, followed by the 10pf in 1963, and the 5pf in 1968, the old style coins were gradually replaced with new coins depicting the state name "Deutsche Demokratische Republik." Aluminium M1, M2 and 50pf pieces were released for circulation in 1956, 1957 and 1958, respectively. In 1969, brass 20pf coins were introduced, with nickel-bronze (later cupro-nickel) M5 coins issued from 1968. In 1973 and 1974, M1 and M2 coins were redesigned dropping

1520-580: Is a recognized minority language in the following countries: In France, the High German varieties of Alsatian and Moselle Franconian are identified as " regional languages ", but the European Charter for Regional or Minority Languages of 1998 has not yet been ratified by the government. Namibia also was a colony of the German Empire, from 1884 to 1915. About 30,000 people still speak German as

1615-596: Is also notable for its broad spectrum of dialects , with many varieties existing in Europe and other parts of the world. Some of these non-standard varieties have become recognized and protected by regional or national governments. Since 2004, heads of state of the German-speaking countries have met every year, and the Council for German Orthography has been the main international body regulating German orthography . German

1710-546: Is an Indo-European language that belongs to the West Germanic group of the Germanic languages . The Germanic languages are traditionally subdivided into three branches: North Germanic , East Germanic , and West Germanic . The first of these branches survives in modern Danish , Swedish , Norwegian , Faroese , and Icelandic , all of which are descended from Old Norse . The East Germanic languages are now extinct, and Gothic

1805-472: Is called the "German Sprachraum ". German is the official language of the following countries: German is a co-official language of the following countries: Although expulsions and (forced) assimilation after the two World wars greatly diminished them, minority communities of mostly bilingual German native speakers exist in areas both adjacent to and detached from the Sprachraum. Within Europe, German

1900-430: Is complicated by the existence of several varieties whose status as separate "languages" or "dialects" is disputed for political and linguistic reasons, including quantitatively strong varieties like certain forms of Alemannic and Low German . With the inclusion or exclusion of certain varieties, it is estimated that approximately 90–95 million people speak German as a first language , 10–25   million speak it as

1995-520: Is generally seen as ending when the 1346–53 Black Death decimated Europe's population. Modern High German begins with the Early New High German (ENHG) period, which Wilhelm Scherer dates 1350–1650, terminating with the end of the Thirty Years' War . This period saw the further displacement of Latin by German as the primary language of courtly proceedings and, increasingly, of literature in

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2090-595: Is generally seen as lasting from 1050 to 1350. This was a period of significant expansion of the geographical territory occupied by Germanic tribes, and consequently of the number of German speakers. Whereas during the Old High German period the Germanic tribes extended only as far east as the Elbe and Saale rivers, the MHG period saw a number of these tribes expanding beyond this eastern boundary into Slavic territory (known as

2185-559: Is less closely related to languages based on Low Franconian dialects (e.g., Dutch and Afrikaans), Low German or Low Saxon dialects (spoken in northern Germany and southern Denmark ), neither of which underwent the High German consonant shift. As has been noted, the former of these dialect types is Istvaeonic and the latter Ingvaeonic, whereas the High German dialects are all Irminonic; the differences between these languages and standard German are therefore considerable. Also related to German are

2280-435: Is one of the major languages of the world . German is the second-most widely spoken Germanic language , after English, both as a first and as a second language . German is also widely taught as a foreign language , especially in continental Europe (where it is the third most taught foreign language after English and French), and in the United States. Overall, German is the fourth most commonly learned second language, and

2375-587: Is one of the three biggest newspapers in Namibia and the only German-language daily in Africa. An estimated 12,000 people speak German or a German variety as a first language in South Africa, mostly originating from different waves of immigration during the 19th and 20th centuries. One of the largest communities consists of the speakers of "Nataler Deutsch", a variety of Low German concentrated in and around Wartburg . The South African constitution identifies German as

2470-472: Is one which is expected to fluctuate erratically or depreciate against other currencies. Softness is typically the result of weak legal institutions and/or political or fiscal instability. junk currency is also even less trusted than soft currency and have a very low currency value. These countries experience sharp falls in value all the time. The paper currencies of some developed countries have earned recognition as hard currencies at various times, including

2565-401: Is partly derived from Latin and Greek , along with fewer words borrowed from French and Modern English . English, however, is the main source of more recent loanwords . German is a pluricentric language ; the three standardized variants are German , Austrian , and Swiss Standard German . Standard German is sometimes called High German , which refers to its regional origin. German

2660-510: Is the Sachsenspiegel , the first book of laws written in Middle Low German ( c.  1220 ). The abundance and especially the secular character of the literature of the MHG period demonstrate the beginnings of a standardized written form of German, as well as the desire of poets and authors to be understood by individuals on supra-dialectal terms. The Middle High German period

2755-566: Is the only language in this branch which survives in written texts. The West Germanic languages, however, have undergone extensive dialectal subdivision and are now represented in modern languages such as English, German, Dutch , Yiddish , Afrikaans , and others. Within the West Germanic language dialect continuum, the Benrath and Uerdingen lines (running through Düsseldorf - Benrath and Krefeld - Uerdingen , respectively) serve to distinguish

2850-481: Is understood in all areas where German is spoken. Approximate distribution of native German speakers (assuming a rounded total of 95 million) worldwide: As a result of the German diaspora , as well as the popularity of German taught as a foreign language , the geographical distribution of German speakers (or "Germanophones") spans all inhabited continents. However, an exact, global number of native German speakers

2945-673: The Ostsiedlung ). With the increasing wealth and geographic spread of the Germanic groups came greater use of German in the courts of nobles as the standard language of official proceedings and literature. A clear example of this is the mittelhochdeutsche Dichtersprache employed in the Hohenstaufen court in Swabia as a standardized supra-dialectal written language. While these efforts were still regionally bound, German began to be used in place of Latin for certain official purposes, leading to

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3040-729: The Deutsche Mark issued by the Bank deutscher Länder (later the Deutsche Bundesbank ). Because the Reichsmark was still legal tender in the Soviet occupation zone , the currency flooded into the east from the west, where it was worthless. This caused sudden inflation, which caused privately held cash in the Soviet zone to become worthless overnight. As an emergency measure, many thousands of employees in

3135-627: The Alamanni , Bavarian, and Thuringian groups, all belonging to the Elbe Germanic group ( Irminones ), which had settled in what is now southern-central Germany and Austria between the second and sixth centuries, during the great migration. In general, the surviving texts of Old High German (OHG) show a wide range of dialectal diversity with very little written uniformity. The early written tradition of OHG survived mostly through monasteries and scriptoria as local translations of Latin originals; as

3230-600: The Bretton Woods system and dollarization . Countries have thus been compelled to purchase dollars for their foreign exchange reserves , denominate their commodities in dollars for foreign trade, or even use dollars domestically, thus buoying the currency's value. The euro (EUR) has also been considered a hard currency for much of its short history. However, the European sovereign debt crisis has partially eroded that confidence. The Swiss franc (CHF) has long been considered

3325-557: The Czech Republic ( North Bohemia ), Poland ( Upper Silesia ), Slovakia ( Košice Region , Spiš , and Hauerland ), Denmark ( North Schleswig ), Romania and Hungary ( Sopron ). Overseas, sizeable communities of German-speakers are found in Brazil ( Blumenau and Pomerode ), South Africa ( Kroondal ), Namibia , among others, some communities have decidedly Austrian German or Swiss German characters (e.g. Pozuzo , Peru). German

3420-645: 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 (Mark of the GDR). The mark (M) was divided into 100 Pfennig (pf). On 18 June 1948 a currency reform was announced for the western zones. Subsequently, on 20 June 1948, the Reichsmark and the Rentenmark were abolished in the western occupation zones due to Soviet counterfeiting of AM-Marks resulting in economic instability and inflation and replaced with

3515-522: The Early Middle Ages . German is an inflected language , with four cases for nouns, pronouns, and adjectives (nominative, accusative, genitive, dative); three genders (masculine, feminine, neuter) and two numbers (singular, plural). It has strong and weak verbs . The majority of its vocabulary derives from the ancient Germanic branch of the Indo-European language family, while a smaller share

3610-473: The European Union 's population, spoke German as their mother tongue, making it the second most widely spoken language on the continent after Russian and the second biggest language in terms of overall speakers (after English), as well as the most spoken native language. The area in central Europe where the majority of the population speaks German as a first language and has German as a (co-)official language

3705-652: The European Union . It is the most widely spoken and official (or co-official) language in Germany , Austria , Switzerland , Liechtenstein , and the Italian autonomous province of South Tyrol . It is also an official language of Luxembourg , Belgium and the Italian autonomous region of Friuli-Venezia Giulia , as well as a recognized national language in Namibia . There are also notable German-speaking communities in France ( Alsace ),

3800-514: The German states . While these states were still part of the Holy Roman Empire , and far from any form of unification, the desire for a cohesive written language that would be understandable across the many German-speaking principalities and kingdoms was stronger than ever. As a spoken language German remained highly fractured throughout this period, with a vast number of often mutually incomprehensible regional dialects being spoken throughout

3895-724: The Holy Roman Emperor Maximilian I , and the other being Meißner Deutsch , used in the Electorate of Saxony in the Duchy of Saxe-Wittenberg . Alongside these courtly written standards, the invention of the printing press led to the development of a number of printers' languages ( Druckersprachen ) aimed at making printed material readable and understandable across as many diverse dialects of German as possible. The greater ease of production and increased availability of written texts brought about increased standardisation in

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3990-644: The Old High German language in several Elder Futhark inscriptions from as early as the sixth century AD (such as the Pforzen buckle ), the Old High German period is generally seen as beginning with the Abrogans (written c.  765–775 ), a Latin-German glossary supplying over 3,000 Old High German words with their Latin equivalents. After the Abrogans , the first coherent works written in Old High German appear in

4085-640: The Sprachraum in Europe. German is used in a wide variety of spheres throughout the country, especially in business, tourism, and public signage, as well as in education, churches (most notably the German-speaking Evangelical Lutheran Church in Namibia (GELK) ), other cultural spheres such as music, and media (such as German language radio programs by the Namibian Broadcasting Corporation ). The Allgemeine Zeitung

4180-716: The Staatsbank der DDR in Berlin. The currency became the property of the Kreditanstalt für Wiederaufbau (KfW) in 1994 through its merger with the Staatsbank Berlin (the post-reunification name for the Staatsbank der DDR ). The 13 km (8.1 mi) tunnel system had been built by forced labour during World War II , and used by the National People's Army under the code name "Malachit" , or camp complex KL-12 NVA-Nr.16/630. It

4275-536: The Standard German language in its written form, and the Duden Handbook was declared its standard definition. Punctuation and compound spelling (joined or isolated compounds) were not standardized in the process. The Deutsche Bühnensprache ( lit.   ' German stage language ' ) by Theodor Siebs had established conventions for German pronunciation in theatres , three years earlier; however, this

4370-517: The United States dollar , euro , British pound sterling , Japanese yen , Swiss franc and to a lesser extent the Canadian dollar , New Zealand dollar , Swedish krona , Singapore dollar , Hong Kong dollar and Australian dollar . As times change, a currency that is considered weak at one time may become stronger, or vice versa. One barometer of hard currencies is how they are favored within

4465-503: The Upper German dialects spoken in the southern German-speaking countries , such as Swiss German ( Alemannic dialects ) and the various Germanic dialects spoken in the French region of Grand Est , such as Alsatian (mainly Alemannic, but also Central–and   Upper Franconian dialects) and Lorraine Franconian (Central Franconian). After these High German dialects, standard German

4560-756: 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

4655-499: The foreign-exchange reserves of countries: The percental composition of currencies of official foreign exchange reserves from 1995 to 2022. The US dollar (USD) has been considered a strong currency for much of its history. Despite the Nixon shock of 1971, and the United States' growing fiscal and trade deficits, most of the world's monetary systems have been tied to the US dollar due to

4750-462: The pagan Germanic tradition. Of particular interest to scholars, however, has been the Hildebrandslied , a secular epic poem telling the tale of an estranged father and son unknowingly meeting each other in battle. Linguistically, this text is highly interesting due to the mixed use of Old Saxon and Old High German dialects in its composition. The written works of this period stem mainly from

4845-614: The Empire. Its use indicated that the speaker was a merchant or someone from an urban area, regardless of nationality. Prague (German: Prag ) and Budapest ( Buda , German: Ofen ), to name two examples, were gradually Germanized in the years after their incorporation into the Habsburg domain; others, like Pressburg ( Pozsony , now Bratislava), were originally settled during the Habsburg period and were primarily German at that time. Prague, Budapest, Bratislava, and cities like Zagreb (German: Agram ) or Ljubljana (German: Laibach ), contained significant German minorities. In

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4940-414: The Frisian languages— North Frisian (spoken in Nordfriesland ), Saterland Frisian (spoken in Saterland ), and West Frisian (spoken in Friesland )—as well as the Anglic languages of English and Scots. These Anglo-Frisian dialects did not take part in the High German consonant shift, and the Anglic languages also adopted much vocabulary from both Old Norse and the Norman language . The history of

5035-518: The GDR were required to exchange a minimum of DM25 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 DM 25 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

5130-417: The German language begins with the High German consonant shift during the Migration Period , which separated Old High German dialects from Old Saxon . This sound shift involved a drastic change in the pronunciation of both voiced and voiceless stop consonants ( b , d , g , and p , t , k , respectively). The primary effects of the shift were the following below. While there is written evidence of

5225-399: The German states; the invention of the printing press c.  1440 and the publication of Luther's vernacular translation of the Bible in 1534, however, had an immense effect on standardizing German as a supra-dialectal written language. The ENHG period saw the rise of several important cross-regional forms of chancery German, one being gemeine tiutsch , used in the court of

5320-623: The Germanic dialects that were affected by the High German consonant shift (south of Benrath) from those that were not (north of Uerdingen). The various regional dialects spoken south of these lines are grouped as High German dialects, while those spoken to the north comprise the Low German and Low Franconian dialects. As members of the West Germanic language family, High German, Low German, and Low Franconian have been proposed to be further distinguished historically as Irminonic , Ingvaeonic , and Istvaeonic , respectively. This classification indicates their historical descent from dialects spoken by

5415-547: The Irminones (also known as the Elbe group), Ingvaeones (or North Sea Germanic group), and Istvaeones (or Weser–Rhine group). Standard German is based on a combination of Thuringian - Upper Saxon and Upper Franconian dialects, which are Central German and Upper German dialects belonging to the High German dialect group. German is therefore closely related to the other languages based on High German dialects, such as Luxembourgish (based on Central Franconian dialects ) and Yiddish . Also closely related to Standard German are

5510-819: The July 1990 adoption of the Deutsche Mark , low value GDR coinage (up to 50pf) continued to circulate in the former GDR as legal tender, because the Bundesbank could not deliver enough small coins quickly enough to replace the former GDR coins. (0.026 ounce) (0.669 inch) (0.039 ounce) (0.748 inch) (0.053 ounce) (0.827 inch) (0.19 ounce) (0.874 inch) (0.071 ounce) (0.906 inch) (0.088 ounce) (0.984 inch) (0.106 ounce) (1.063 inches) (0.342 ounce) (1.142 inch) (0.342 ounce) (1.142 inch) There were 123 commemorative coins altogether, with face values of M5, M10 or M20. The coins were released for various anniversaries or special events. Silver, copper/nickel/zinc (German silver / nickel silver ) or other alloys were used for

5605-408: The MHG period. Significantly, these texts include a number of impressive secular works, such as the Nibelungenlied , an epic poem telling the story of the dragon -slayer Siegfried ( c.  thirteenth century ), and the Iwein , an Arthurian verse poem by Hartmann von Aue ( c.  1203 ), lyric poems , and courtly romances such as Parzival and Tristan . Also noteworthy

5700-467: The National People's Army (NVA), but they were never issued. These military notes consist of the 1955 series (DN B13 – DN B17) handstamped with the coat of arms and—in some cases—overprinted Musternote (Sample Note) or Militärgeld (Military Money). Preparations were made to introduce them in 1980, but this never occurred. Instead, in 1990 and 1991, these and other old and unissued East German notes and coins were stored in bunkers in massive sandstone caverns in

5795-429: The Soviets expressed surprise about the western currency reform at the time, the German Economic Commission , per consultation with the Soviet Military Administration had prepared for this situation. The adhesive coupons had already been printed and, with logistic assistance by the Soviets, distributed among the district offices. First affixings of the coupons started immediately, already on 19 June 1948. On 23 June 1948,

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5890-451: The Thekenberge near Halberstadt . However, a pair of local citizens gained entry to this cache over the next decade and stole some of its contents, including the unissued military notes dated 1955, as well as two unissued notes dated 1985. In response to this theft, the remaining paper money was incinerated between April and 25 June 2002. Only a few genuine military banknotes exist; however, an abundance of 1955 series banknotes survived, as did

5985-410: The coat of arms handstamp. Many military banknotes have since been fabricated and it's impossible to distinguish them from genuine notes. German language German (German: Deutsch , pronounced [dɔʏtʃ] ) is a West Germanic language in the Indo-European language family , mainly spoken in Western and Central Europe . It is the most spoken native language within

6080-456: The coins. A complete list of all released commemorative coins can be found in the " Liste der Gedenkmünzen der DDR ". Some of the commemorative coins were produced in very large volumes, especially the one shown above. These coins entered circulation, because they had little or no additional value for collectors due to the large numbers issued. In 1980, East Germany prepared special military banknotes intended to be used in international missions of

6175-430: The development of non-local forms of language and exposed all speakers to forms of German from outside their own area. With Luther's rendering of the Bible in the vernacular, German asserted itself against the dominance of Latin as a legitimate language for courtly, literary, and now ecclesiastical subject-matter. His Bible was ubiquitous in the German states: nearly every household possessed a copy. Nevertheless, even with

6270-404: The dialect so as to make the work as natural and accessible to German speakers as possible. Copies of Luther's Bible featured a long list of glosses for each region, translating words which were unknown in the region into the regional dialect. Luther said the following concerning his translation method: One who would talk German does not ask the Latin how he shall do it; he must ask the mother in

6365-404: The district offices started to affix adhesive coupons to those reichsmark and rentenmark banknotes for which the owners could prove their origin, up to a limit of 70 ℛ︁ℳ︁ per person. Only such banknotes could be exchanged when the Deutsche Notenbank (the East German counterpart of the Bundesbank ) issued the new Deutsche Mark with the subsequent currency reform. Although

6460-415: The early 1980s by coins with the legend Mark . 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 essentially worthless outside of East Germany. The few East Germans able to visit the West often found themselves having to rely on their West German relatives as

6555-435: The eastern provinces of Banat , Bukovina , and Transylvania (German: Banat, Buchenland, Siebenbürgen ), German was the predominant language not only in the larger towns—like Temeschburg ( Timișoara ), Hermannstadt ( Sibiu ), and Kronstadt ( Brașov )—but also in many smaller localities in the surrounding areas. In 1901, the Second Orthographic Conference ended with a (nearly) complete standardization of

6650-436: The exchange of currency was the most practical way of quickly unifying the German economy, and others arguing that the exchange increased the disruption caused by German unification by, among other things, making eastern German industries uncompetitive. Around 4,500 tonnes of East German coins were melted down at the Rackwitz metal works in 1990. Almost all the paper money (about 100 billion Marks, in 620 million banknotes with

6745-493: The fall of the Soviet Union in December 1991, the ruble depreciated rapidly, while the purchasing power of the US dollar was more stable, making it a harder currency than the ruble. A tourist could get 200 rubles per US dollar in June 1992, and 500 ruble per dollar in November 1992. In some economies, which may be either planned economies or market economies using a soft currency , there are special stores that accept only hard currency. Examples have included Tuzex stores in

6840-579: The former Czechoslovakia , Intershops in East Germany , Pewex in Poland , or Friendship stores in China in the early 1990s. These stores offer a wider variety of goods – many of which are scarce or imported – than standard stores. Because hard currencies may be subject to legal restrictions, the desire for transactions in hard currency may lead to a black market . In some cases,

6935-422: The former "Deutsche Mark" title. The brass 20pf coins were issued because pay telephones had a standard charge of 20pf and were having problems with aluminium coins jamming due to their light weight. Commemorative M5, M10, and M20 coins of various types have also occasionally made it into circulation. The aluminium content of the coins meant that East German coins were nicknamed "alu-chips". For several months after

7030-991: The franc's hard currency advantage over the euro but was abandoned in January 2015. The Japanese yen used to be a hard currency. However, it is now regarded as a junk currency due to the sharp decline in the currency's value since 2022. For this reason, many exchange offices don’t handle the Japanese yen. The impact of this junk currencyisation has also led to a series of moves by even Japanese companies to cease trading in Japanese yen. Investors as well as ordinary people generally prefer hard currencies to soft currencies at times of increased inflation (or, more precisely, times of increased inflation differentials between countries), at times of heightened political or military risk, or when they feel that one or more government-imposed exchange rates are unrealistic. There may be regulatory reasons for preferring to invest outside one's home currency, e.g.

7125-435: The home, the children on the streets, the common man in the market-place and note carefully how they talk, then translate accordingly. They will then understand what is said to them because it is German. When Christ says ' ex abundantia cordis os loquitur ,' I would translate, if I followed the papists, aus dem Überflusz des Herzens redet der Mund . But tell me is this talking German? What German understands such stuff? No,

7220-474: The influence of Luther's Bible as an unofficial written standard, a widely accepted standard for written German did not appear until the middle of the eighteenth century. German was the language of commerce and government in the Habsburg Empire , which encompassed a large area of Central and Eastern Europe . Until the mid-nineteenth century, it was essentially the language of townspeople throughout most of

7315-408: The largest concentrations of German speakers are in the states of Rio Grande do Sul (where Riograndenser Hunsrückisch developed), Santa Catarina , and Espírito Santo . Hard currency Safe haven currency is defined as a currency which behaves like a hedge for a reference portfolio of risky assets conditional on movements in global risk aversion . Conversely, a weak or soft currency

7410-644: The local currency may be subject to capital controls which makes it difficult to spend it outside the host nation. For example, during the Cold War , the ruble in the Soviet Union was not a hard currency because it could not be easily spent outside the Soviet Union and because the exchange rates were fixed at artificially high levels for persons with hard currency, such as Western tourists. (The Soviet government also imposed severe limits on how many rubles could be exchanged by Soviet citizens for hard currencies.) After

7505-710: 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 M 5 (East) = DM 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

7600-499: The mother in the home and the plain man would say, Wesz das Herz voll ist, des gehet der Mund über . Luther's translation of the Bible into High German was also decisive for the German language and its evolution from Early New High German to modern Standard German. The publication of Luther's Bible was a decisive moment in the spread of literacy in early modern Germany , and promoted

7695-465: The name of the currency was changed from MDN to Mark der Deutschen Demokratischen Republik (Mark der DDR) (M) , or "Mark of the GDR", and the name of the state bank from Deutsche Notenbank to Staatsbank der DDR . Coins minted before the renaming, with the legend Deutsche Mark (i.e., in DM ;1 and DM 2 denominations), continued to circulate for several years, but they were gradually replaced by

7790-630: The ninth century, chief among them being the Muspilli , Merseburg charms , and Hildebrandslied , and other religious texts (the Georgslied , Ludwigslied , Evangelienbuch , and translated hymns and prayers). The Muspilli is a Christian poem written in a Bavarian dialect offering an account of the soul after the Last Judgment , and the Merseburg charms are transcriptions of spells and charms from

7885-409: The official starting day of the action, a considerable store of primed banknotes was already available. This enabled to reduce waiting times and to accelerate the process by exchanging these notes for unprimed banknotes. On 24 July 1948, a completely new series of banknotes was issued. It maintained the official name Deutsche Mark von der Deutschen Notenbank until 1964, but it was known, especially in

7980-462: The pronunciation of the ending -ig as [ɪk] instead of [ɪç]. In Northern Germany, High German was a foreign language to most inhabitants, whose native dialects were subsets of Low German. It was usually encountered only in writing or formal speech; in fact, most of High German was a written language, not identical to any spoken dialect, throughout the German-speaking area until well into the 19th century. However, wider standardization of pronunciation

8075-541: The states of North Dakota and South Dakota , German is the most common language spoken at home after English. As a legacy of significant German immigration to the country , German geographical names can be found throughout the Midwest region , such as New Ulm and Bismarck (North Dakota's state capital), plus many other regions. A number of German varieties have developed in the country and are still spoken today, such as Pennsylvania Dutch and Texas German . In Brazil,

8170-491: The theft and the slowness of the rotting, the KfW then decided to burn the old currency. Between April and June 2002, 298 containers of the currency remains were burned in an incinerator (six containers per day) along with household refuse. The last container was burned on 25 June 2002. The first issue of Eastern coins was released in 1948, inscribed with "Deutschland", and consisted of aluminium 1pf, 5pf and 10pf denominations, depicting

8265-496: The third most commonly learned second language in the United States in K-12 education. The language has been influential in the fields of philosophy, theology, science, and technology. It is the second most commonly used language in science and the third most widely used language on websites . The German-speaking countries are ranked fifth in terms of annual publication of new books, with one-tenth of all books (including e-books) in

8360-431: The tunnel system through an unsecured opening and made off with numerous banknotes. The two residents were convicted of the crime and sentenced to four months in prison and three years of probation. Furthermore, they had to pay €120 to a non-profit organisation. The appearance among collectors of uncirculated M 200 and M 500 DDR notes, and of the never-issued military currency, is attributed to this theft. Because of

8455-452: The west, as the Ostmark , or eastern mark . From 1964 to 1967, the East German mark was officially designated as the Mark der Deutschen Notenbank (MDN). With the constitutional amendments of 1968 and 1974, the leadership of East Germany moved away from the original goal of a unified Germany, using the phrase "... of the GDR" where earlier they would simply have said "German ...". In this way

8550-543: The world being published in German. German is most closely related to other West Germanic languages, namely Afrikaans , Dutch , English , the Frisian languages , and Scots . It also contains close similarities in vocabulary to some languages in the North Germanic group , such as Danish , Norwegian , and Swedish . Modern German gradually developed from Old High German , which in turn developed from Proto-Germanic during

8645-579: The written form of German. One of the central events in the development of ENHG was the publication of Luther's translation of the Bible into High German (the New Testament was published in 1522; the Old Testament was published in parts and completed in 1534). Luther based his translation primarily on the Meißner Deutsch of Saxony , spending much time among the population of Saxony researching

8740-429: Was a "neutral" language as there were virtually no English native speakers in Namibia at that time. German, Afrikaans, and several indigenous languages thus became "national languages" by law, identifying them as elements of the cultural heritage of the nation and ensuring that the state acknowledged and supported their presence in the country. Today, Namibia is considered to be the only German-speaking country outside of

8835-530: Was an artificial standard that did not correspond to any traditional spoken dialect. Rather, it was based on the pronunciation of German in Northern Germany, although it was subsequently regarded often as a general prescriptive norm, despite differing pronunciation traditions especially in the Upper-German-speaking regions that still characterise the dialect of the area today – especially

8930-485: Was established on the basis of public speaking in theatres and the media during the 20th century and documented in pronouncing dictionaries. Official revisions of some of the rules from 1901 were not issued until the controversial German orthography reform of 1996 was made the official standard by governments of all German-speaking countries. Media and written works are now almost all produced in Standard German which

9025-451: Was the bunker with the largest floor space, and was used for the safeguarding of devices and munitions that would be needed for war. The money was protected from theft by 2-metre (6.6 ft) thick concrete walls and heavy steel doors. For cost reasons, the money was left to rot under the natural humidity, but it was further covered with gravel. In July 2001, it was discovered that two Halberstadt residents (aged 24 and 26) had gained entry to

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