1948 Currency reform
On June 20, 1948, currency reform came into force in the three Western occupation zones by order of the Allies. Three "laws to reorganize the monetary system" invalidated the Reichsmark, which had become worthless due to war and inflation, and distributed 500 tons of banknotes printed in America and England. At the beginning, each citizen received 40 German Marks in cash for 40 Reichsmarks.
A few days later in response a currency reform also took place in the Soviet occupation. Also to protect the Soviet occupation zone against inflation.
The black marketeers were anything but enthusiastic about the events.
The end of the black market, however, was the beginning of the economic rise of the Germans and at the same time the sealing of the division of Germany.