Money & WorkFact

1.95583 and 166.386: two numbers a whole generation knows by heart.

The conversion rates to the euro were fixed irrevocably on 31 December 1998: 1 euro = 1.95583 Deutsche Marks and 166.386 pesetas. They could never be rounded, to prevent manipulation. Many Germans still halved prices in their heads and felt cheated, although measured inflation barely rose in 2002.

Useful: Perceived inflation often exceeds measured inflation: we remember pricey small items like coffee.

Source: de.wikipedia.org

EuroGeschichteWaehrung

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