The mark is a unit of monetary measurement in ancient Europe, with the symbol \u, which was originally equivalent to 8 troy ounces (249 grams) of pure silver, and later evolved into half a pound. As the name of ancient monetary unit, "mark" was once widely used in ancient western Europe, including England. King Richard Lion Heart of England was captured in Germany and released after paying a ransom of150,000 marks to the Holy Roman Empire.
With the development of time, the weight of marks in various regions has also changed. Some marks representing regions have been converted into modern weight units as follows: Cologne mark (Hanseatic League): 233.856 grams, Vienna mark: 280.66 grams, Nuremberg mark: 237.52 grams, and erfurt mark: 235.40 grams.
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1992 in late September, the European foreign exchange market was filled with a fierce atmosphere. On the one hand, the central banks of the member countries of the European monetary system headed by the German central bank are determined to protect the exchange rate of the mark against the pound and the Italian lira, and constantly throw out the mark to buy the pound and the lira in the foreign exchange market.
On the other hand, there are speculative forces in the foreign exchange market, which seem to be uniting against the central bank, throwing pounds and lira to buy marks. In the fierce battle in the foreign exchange market, the central bank has thrown out more than 20 billion dollars of marks, all of which have been eaten by market speculators.
In the end, the contest ended in the failure of the European Central Bank to maintain a fixed exchange rate range between the mark and the pound and the lira, and the pound and the lira were forced to withdraw from the European monetary system. Many large venture capital groups earned tens of millions of dollars this month, and the most earned nearly one billion dollars. In fact, the seeds of this crisis in the European monetary system were planted from the day the European monetary system came into being.
Baidu Encyclopedia-Mark