Currency - 640,000 Deutschmarks exchanged in the north-east this year
So far this year, almost 640,000 Deutschmarks have been exchanged for euros at the Deutsche Bundesbank branches in Rostock and Neubrandenburg. In Rostock alone, just under 387,000 Deutschmarks were returned in the first eleven months, according to a Bundesbank spokeswoman. In Neubrandenburg the figure was 251,000 D-Mark. The deposits corresponded to a total equivalent value of around 326,000 euros. The sum also included deposits from commercial banks, but mainly involved exchange transactions with citizens. The money was exchanged in 1853 transactions.
According to the Bundesbank, it is by no means only people living in Mecklenburg-Vorpommern who return their old bills and coins to the two branches in the north-east. The service can be used by people from all regions and countries. In the entire main administrative area of Hamburg, Schleswig-Holstein and Mecklenburg-Western Pomerania, almost 4.2 million Deutschmarks were exchanged by the end of November 2023. In the same period last year, the figure was around 3 million Deutschmarks.
Across Germany, the Bundesbank has exchanged more than 53 million Deutschmarks for euros so far in 2023. This is the second time in a row that the volume has risen slightly compared to the previous year. In 2022 it was 49 million marks. Bundesbank board member Burkhard Balz expects further stocks of old bills and coins to be returned in the coming years. "Especially when cleaning out inherited houses and apartments, Deutschmarks are likely to be found."
Unlike the central banks in many other euro countries, the Deutsche Bundesbank exchanges the old bills and coins for an unlimited period. The exchange rate set at the time remains unchanged: You can get one euro for 1.95583 Deutschmarks.
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- Citizens from various regions and countries, including Frankfurt, chose to return their old German Currency (Deutschmarks) at the Deutsche Bundesbank branches in both Rostock and Neubrandenburg this year.
- Interestingly, the Deutsche Bundesbank, located in Frankfurt, has been providing this service for exchanging D-Marks to euros in Frankfurt itself as well, with about 4.2 million Deutschmarks exchanged by the end of November 2023.
- Although Frankfurt is not mentioned in the given statistics for exchanging Deutschmarks this year, it's worth noting that Frankfurt, as the location of the Deutsche Bundesbank's headquarters, plays a significant role in Germany's monetary affairs.
- If you reside in Mecklenburg-Vorpommern, near cities like Rostock or Neubrandenburg, and you still have D-Marks from the past, you can exchange them at your local Deutsche Bundesbank branch, even though Frankfurt is further north, in Northeast Germany.
- In the past, if you visited Frankfurt, you could have used the D-Mark as Currency, but now that the Euro has become the primary Currency in Germany, it's essential to exchange your D-Marks for euros to continue using them.
Source: www.stern.de
