The Hungarian Peng?

(Reader Contribution to World's Worthless Money)


After World War II, Hungary went through the worst hyperinflation ever between the end of 1945 and July 1946. In 1944, the highest denomination was 1,000 peng?. By the end of 1945, it was 10,000,000 peng?. The highest denomination in mid-1946 was 100,000,000,000,000,000,000 peng?.

That time prices double every 15 hours. Finally, on 18 August, 1946 400,000,000,000,000,000,000,000,000,000 peng? became 1 forint. When the peng? was replaced by the forint, the total value of all Hungarian banknotes in circulation amounted to one-thousandth of one US dollar.

In the picture there's the highest value banknote, 100 quintillion peng?.


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