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II.5. Questions of valuation and monetary conversion

The German Reich's capture of Austrian resources was helped by the conversion of the Austrian currency to German Reich marks (abbreviated RM). The Austrian National Bank's reserves of gold and foreign exchange were particularly valuable for the German economy, which suffered from a chronic lack of foreign exchange. The German Reich's foreign assets were also fattened by the holdings of foreign securities in the hands of Austrian nationals and by taking over the receipts from exports of Austrian goods to other countries. The fixing of the conversion rate from schillings to marks played a central role since it had a strong influence on the valuation of any expropriated assets.

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