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Ostmark

Syllabification: Ost·mark
Pronunciation: /ˈästmärk
 
/

Definition of Ostmark in English:

noun

historical
The basic monetary unit of the former German Democratic Republic, equal to 100 pfennigs.
Example sentences
  • 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.
  • 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.

Origin

German, literally 'east mark' (see mark2).

Definition of Ostmark in:

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