Reserve currency economy, the German Deutsche Mark gained the status of the second most important reserve currency after the US dollar. When the euro was introduced on 1 January 1999, replacing the Mark, French franc and ten other European currencies, it inherited the status of a major reserve currency from the Mark. Since then, its contribution to official reserves has risen continually as banks seek to diversify their reserves, and trade in the eurozone continues to expand. Former U.S. Federal Reserve Chairman Alan Greenspan said in September 2007 that the euro could replace the U.S. dollar as the world's primary reserve currency.
Mark (currency) economy and hyper-inflation of local divided currencies after the Bosnian war, pegged to the German mark 1:1 at the time, and further pegged to Euro at the rate at which German mark was replaced, i.e. 1 EUR = 1.95583 BAM. Mark (currency) The mark was a currency or unit of account in many nations. It is named for the mark unit of weight. The word "mark" comes from a merging of three Teutonic/Germanic words, Latinised in 9th-century post-classical Latin as ', ', ' or '. It was a measure of weight mainly for gold and silver, commonly used throughout Western