The basic monetary unit of the former German Democratic Republic, equal to 100 pfennig.
- 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.
German, literally 'east mark' (see mark2).
For editors and proofreaders
Line breaks: Ost|mark
Definition of Ostmark in:
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.