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The DM now is fixed at 1 Euro = 1.99583 DM.
The 11 currencies participating in the single currency are all fixed to
the Euro, and so to one another.
The currencies are:
Deutsche Mark
Belgian Franc
Finnish Markka
French Franc
Irish Punt
Italian Lira
Luxembourg Franc
Dutch Guilder
Austrian Schilling
Portuguese Escudo
Spanish Peseta
The Euro does not yet exist as cash money. Here in Germany, we still use
DM coins and bills. Increasingly, prices are dual-quoted; eg, my phone
bill is calculated in DM, and then the total also shown in Euro. Also,
there are Euro bank accounts, and bond issues are now denominated in
Euros. Stock prices here in Germany are now quoted only in Euros.
The powers that be are still trying to figure out how to introduce Euro
cash currency and get rid of the old DM, FF, etc. It won't happen for a
few years in any rate.
Regards
DanG
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