Hyperinflation in the Weimar Republic

Hyperinflation affected the German Papiermark, the currency of the Weimar Republic, between 1921 and 1923, primarily in 1923. It caused considerable internal political instability in the country, the occupation of the Ruhr by France and Belgium as well as misery for the general populace.

Piles of new Notgeld banknotes awaiting distribution at the Reichsbank during the hyperinflation.