In Germany, one-hundredth of a Deutschmark until the introduction of the euro (7)

I believe the answer is:

pfennig

(Other definitions for pfennig that I've seen before include "Former German currency unit" , "Hundredth of an old Deutschmark" , "foreign coin" , "Old German coin" , "Old German monetary unit" .)

I've seen this clue in The Mirror.

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