Timeline Monday 1 January 1923

Events on Monday 1 January 1923 1

• 1923 German hyperinflation reaches its peak The mark collapses and a new currency is introduced The German mark lost virtually all value in 1923, with prices doubling every few days at the peak of the crisis in November, and workers were paid in wheelbarrows of banknotes. The Weimar government introduced the Rentenmark on November 15 to stabilize the currency and halt the collapse. The crisis wiped out middle-class savings and deepened political instability.