1 Milliard B-Pengo

Krazy

After WW2, the new democratic government suffered from serious lack of money, so it ordered the national bank to manufacture banknotes quickly and cheaply. There was little time to design new notes, thus the plates of banknotes printed in 1926 were reused as well as portraits from other notes. Beginning with the 1000 pengő note, only denominations of integer powers of ten were used. The uncontrolled banknote issuing aggravated inflation. In 1946 Hungary issued a 100 Million B-Pengo, which was the the largest circulated banknote at the time, unfortunately it was worth only about $0.20 USD in 1946. Hungary also printed a 1 Milliard B-Pengo, but it was never released into circulation. The 1 Milliard B-Pengo translates into 1 trillion Pengos.