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Reichsmark: currency convertor?


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#1 At Home Dad

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Posted 26 September 2009 - 07:55 AM

Hallo all

Just one of those silly thoughts which enter your head while surfing and having the first coffee of the morning!

I was reading this interesting site (from the 'websites' thread) and it had a production cost of a car:
RM 600,000.

Has anyone ever calculated what the RM was worth 'in todays money'?



kind regards

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Bob Miller, 2Recce



#2 brndirt1

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Posted 26 September 2009 - 04:06 PM

One would have to figure out the inflation rate from then until today, and then blend in the fact that the USD went off the gold standard and became a fiat currency during the Nixon administration.

After the war was over, each RM was exchanged for the new DM at an official rate of 10 RM=1 DM, although trying to get that was impossible with the blackmarket making American cigerettes and chocolate the more common currency. That said, I did find this exchange rate which MIGHT give one an idea of the value of the Reichmark as the war engulfed the US.

I think it might be difficult to figure the dollar to RM exchange during the war years themselves, since the two were not exchanged after the third quarter of 1941. But before then, the exchange rate varied little from 1934 to 1941, and hovered around 2.5 Reichmarks to each dollar. That is an improvement from the value when the Reichmark replaced the Rentenmark, and the Germany currency became gold backed once again in 1924. In 1925 it was pegged at 4.2 per dollar. By the time Hitler came to power the value had improved to 3.28 RM per dollar.

1933 RM 3.28 (Hitler years 1933-45)
1934 RM 2.54
1935 RM 2.48
1936 RM 2.48
1937 RM 2.49
1938 RM 2.49
1939 RM 2.50
1941 RM 2.50 (No figures available 1941-1945)

See:

Exchange rates 1919-1941

Hope that helps, but man it will be a bugger trying to first ignore the war year value of the RM as an unknown, and the gold supported US dollar coupled to the Dumbarton Oaks standards which didn't disappear until 1973 (I think).;)
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#3 Smudger Jnr

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Posted 26 September 2009 - 04:45 PM

AHD / brndirt1,

Not easy to workout :confused:

By the way brndirt, I like your signature as it holds true today:D.

Regards
Tom
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#4 At Home Dad

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Posted 27 September 2009 - 07:54 AM

oh sorry, I meant in pounds not dollars

:P


what a bloody interesting answer, brndirt! Although I must admit I can only grasp the very edges of the mathematics, at least it shows it's a possibility
to work out.

thanks
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Remembering
Bill Marney, Queen's Regiment.
Bob Miller, 2Recce






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