Frankfurt/Main (dpa/lhe) – The Bundesbank has so far exchanged around 2.96 million Deutschmarks for euros in Hesse in the current year. The stocks submitted by the end of November in Frankfurt to the central bank’s Hesse headquarters and the Bundesbank headquarters were higher than a year earlier, according to data from the Bundesbank. In the comparative period of 2021, the value of the old bills and coins exchanged was around 2.15 million marks.
The central bank attributes the increase, which is also reflected in the nationwide figures, primarily to the fact that during the corona pandemic in 2021 it was more difficult to exchange D-Marks due to the temporarily restricted range of services offered by the Bundesbank branches. “Accordingly, stocks could have accumulated over the past two years that have now been exchanged for euros,” explained Bundesbank board member Johannes Beermann.
Almost 21 years after the introduction of euro cash, Deutsche Mark bills and coins worth billions have not yet been returned. According to information from the Federal Bank, the total value still outstanding at the end of November was just under 12.3 billion marks (about 6.29 billion euros). Some of them will probably never be exchanged – for example because collectors have secured old bills and coins.
Unlike the central banks in many other euro countries, the Bundesbank exchanges old notes and coins for an unlimited period. The exchange rate set at that time remains unchanged: you get one euro for 1.95583 Deutschmarks.
