One of the mysteries of the English language finally explained.
(until the introduction of the euro in 2002) a monetary unit of Germany, equal to one hundredth of a mark.
- ‘On the same day the pound fell four pfennigs to DM2. 8324, as speculators calculated that Gordon Brown was not going to repeat the mistake which John Major made as Chancellor in 1990, by fixing the pound at too high a level against the mark.’
- ‘Within two years of such a vote, pounds and pence could be going the same way as guilders and pfennigs.’
- ‘His grandfather, currently a garrison commander whisked away in the Carnic Alps, was the mayor of some Emilian town where the Austrian pfennig and the French franc are as yet applicable synonyms for lira.’
- ‘The announcement sent sterling tumbling in New York trading last night, hitting DM2. 69-nine pfennigs below its former permitted ERM floor against the German mark.’
- ‘The average price of a litre of premium unleaded rose by four pfennigs last month to more than DM2 a litre.’
From German Pfennig; related to penny.
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