Hungarian janitor raids the effects of hyperinflation, 1946

Hungarian janitor raids the effects of hyperinflation, 1946

September 19, 2015

1442670409-381e5296c06e205f57daea46a7c376fbHungarian pengö appeared in 1927 to fight inflation, which began after the First World War. They were replaced by the previously existing kroon (for 1 pengö they were given 12,500 kronor). Prior to the beginning of the Second World Pengö, it was fairly stable, and in 1939 the rate was 5 peng per dollar (against 5.70 in 1927). During the war, inflation began, the rates of which increased the more, the more obvious was the defeat of Hungary. In the middle of the 44th, the rate was 34 pengö per dollar, and after the coup, Salashi soared in a year to 1320. But the most interesting was ahead.
After the capitulation of Hungary, the Soviet Union received the right to unrestricted emission of pengö, which it actively used until the end of 1945, when the rate was 800,000 pengё per US dollar.
Then the Hungarian government coped with the maintenance of the course of self - or rather, could not cope.
On March 1, the exchange rate reached 1,750,000 pengyos per dollar, on May 1 - 59,000,000,000, on June 1 - 42,000,000,000,000,000, on July 1 - 460,000,000,000,000,000,000,000,000.
In August, they extinguished inflation by introducing a new monetary unit - the forint, the exchange rate of pengö to which amounted to 400,000,000,000,000,000,000,000 (four hundred octillion) to one, which was a world record.

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  • Hungarian janitor raids the effects of hyperinflation, 1946

    Hungarian janitor raids the effects of hyperinflation, 1946

    Hungarian janitor raids the effects of hyperinflation, 1946

    Hungarian janitor raids the effects of hyperinflation, 1946

    Hungarian janitor raids the effects of hyperinflation, 1946

    Hungarian janitor raids the effects of hyperinflation, 1946

    Hungarian janitor raids the effects of hyperinflation, 1946

    Hungarian janitor raids the effects of hyperinflation, 1946

    Hungarian janitor raids the effects of hyperinflation, 1946

    Hungarian janitor raids the effects of hyperinflation, 1946

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