Pengő

10 Pengő from the year 1936.

The Pengő was of 21. January 1927 up to 31. July 1946 the currency of Hungary. A Pengő corresponded to 100 Fillér.

the introduction after the First World War

after the First World War lost the crown, the past currency of Austria Hungary, by the threatening inflation ever more at value. In order to re-establish economic stability, the Pengő was introduced as new currency. At its date of issue 3800 Pengő corresponded to 1 kg of gold and 1 Pengő 12,500 crowns. Contrary to the crown however no golden Pengő was published.

the end after the Second World War

100,000 Milpengő from the year 1946 (1 Milpengő corresponded to a million Pengő, D. h. the illustration shows 100 billion Pengő).

The Pengő lost its entire value due to the lost Second World War and the destruction following from it and the hyperinflation beginning nearly. In order to prevent a further rising of the inflation, first the Steuerpengő (Hungarian adópengő) was introduced, which could not turn however the end away of the Pengős any longer. The course between the Pengő and the Adópengő was daily again computed.

The stability of the Hungarian economy could create only the introduction of a new currency. Thus became at the 1. August 1946 the Forint imported, that during introduction to 400,000 Quadrillionen (4 with 29 (!) Zeros; written out 400.000.000.000.000.000.000.000.000.000) Pengő or 200 million Steuerpengő was changed.

in the circulation money supply present

  • 31. December 1939: 975 million Pengő;
  • 31. December 1945: 765,446 billion Pengő;
  • 31. July 1946: 47.3 Quadrillionen Pengő and 5.176212 Sextillionen (5 with 36 zeros) Steuerpengő.
 

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