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The basic monetary unit of the former German Democratic Republic, equal to 100 pfennigs.
- ‘Problems were made worse when the German currency union took effect, following the decision to convert East German Ostmarks at an artificially high rate into Deutschmarks.’
- ‘Remarkably, his countrymen, who had seen him swap valuable D-marks for worthless Ostmarks in 1990, accepted his decision with barely a murmur of dissent.’
- ‘Like nearly all former East Germans, he is unsentimental about the Ostmark.’
- ‘There is even a hotel in the town of Zittau where guests can change their euros into Ostmarks, be ignored by hotel staff and spied upon by secret service agents.’
- ‘In addition, the exchange rate of the Ostmark against the Deutsche Mark underwent substantial revaluation with the currency reform which converted Ostmarks into DM at 1:1 with large holdings being exchanged at 2:1.’
German, literally ‘east mark’ (see mark).
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