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The German mark was replaced by the euro, first as an accounting currency on 1 January 1999, at a conversion rate of 1.95583 marks per euro. Thereafter, the mark-denominated notes and coins represented the euro at that conversion rate, and remained legal tender until 1 January 2002, when they were replaced by euro notes and coins.
During the Second World War, Germany established fixed exchange rates between the Reichsmark and the currencies of the occupied and allied countries, often set so as to give economic benefits to German soldiers and civilian contractors, who were paid their wages in local currency. The rates were as follows:
Xe.com ( Xe) is a Canada-based online foreign exchange tools and services company headquartered in Newmarket, Ontario. It is best known for its online currency converter application that offers exchange rate information, international money transfers, and other currency-related services via its website, mobile apps, and other online channels.
In economics, hyperinflation is a very high and typically accelerating inflation. It quickly erodes the real value of the local currency, as the prices of all goods increase. This causes people to minimize their holdings in that currency as they usually switch to more stable foreign currencies. [1] When measured in stable foreign currencies ...
A currency pair is the quotation of the relative value of a currency unit against the unit of another currency in the foreign exchange market. The currency that is used as the reference is called the counter currency , quote currency, or currency [1] and the currency that is quoted in relation is called the base currency or transaction currency.
In finance, a currency swap (more typically termed a cross-currency swap, XCS) is an interest rate derivative (IRD). In particular it is a linear IRD, and one of the most liquid benchmark products spanning multiple currencies simultaneously. It has pricing associations with interest rate swaps (IRSs), foreign exchange (FX) rates, and FX swaps ...
The United States dollar ( symbol: $; currency code: USD; also abbreviated US$ to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries.
Calculator. An electronic pocket calculator with a seven-segment liquid-crystal display (LCD) that can perform arithmetic operations. A modern scientific calculator with an LCD. An electronic calculator is typically a portable electronic device used to perform calculations, ranging from basic arithmetic to complex mathematics .