Western money
West money was a term used in the GDR . In the narrower and most commonly used sense, it was used to designate the D-Mark . In a broader sense, western money included all freely convertible currencies of western countries. In official parlance, the term valuta was also used, for the D-mark also the term valutamark .
Unlike the GDR mark, Westgeld was not a legal tender in the German Democratic Republic ; the state-owned retail chain Intershop was an exception . However, it was a shadow currency in the form of cash , especially for goods and services that normal GDR citizens did not get easily.
Until 1974 GDR citizens were forbidden to own currency. This ban was later lifted by a decree of the Council of Ministers of the GDR and GDR citizens could now also shop in the Intershops. However, they could not legally exchange currency for GDR marks. Only value date gifts from relatives from western countries or wages for activities in western countries, which were proportionally paid in value date, were legal.
From 1979 GDR citizens had to exchange their D-Mark for so-called currency checks or forum checks before shopping in Intershop branches . These had the same value as the D-Mark, but could only be redeemed in Intershop stores.
Valuta established itself in the GDR, alongside tangible assets such as antiques or high-quality groceries, as a second currency, with which one could not buy in shops and sales outlets, but only in the Intershop or from acquaintances. A common (illegal) exchange rate was 1: 4 (1 DM for 4 GDR marks); often you had to pay significantly more for a DM, up to 1:25. Exchange requests were even advertised in GDR newspapers. For a short time, the description " blue tiles " was used, based on the color of 100 DM notes. The official exchange rate of the GDR was 1: 1, used for example with the minimum exchange (unofficially "compulsory exchange") for citizens of the Federal Republic and West Berlin when visiting the GDR or with the provision of the travel allowance of 15 DM for GDR citizens who go to the West Were allowed to drive abroad. The Mark of the GDR was a single currency , it was not allowed to leave the territory of the GDR to the west, but in other countries of the CMEA .
literature
- Birgit Wolf: Language in the GDR: A Dictionary , Walter de Gruyter, Berlin 2000, ISBN 3-11-016427-2 .
Web links
Individual evidence
- ↑ Second implementation provision for the orders on the import and export of means of payment and on the exchange and offsetting of Deutschmarks against Western money. - Carriage of means of payment in inter-zone travel - from July 8, 1954 (Journal of Laws p. 632)