Close-up image of the Ten-Million-Milllion Pengo from the Hungarian hyperinflation started in 1945.

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The world's worst inflation happened in Hungary between the end of 1945 and July 1946. The highest denomination in mid-1946 was 100,000,000,000,000,000,000 pengo. It is the most severe known incident of inflation recorded, peaking at +16 percent per month - meaning that the prices doubled every 15 hours. When the forint was introduced, on 18 August, 1946, 400,000,000,000,000,000,000,000,000,000 or 4E+29 pengo became 1 forint.

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Size: 5100px × 3383px
Location: Halifax, Nova Scotia, Canada
Photo credit: © Laszlo Podor / Alamy / Afripics
License: Royalty Free
Model Released: Yes

Keywords: 1945, 1946, banking, banknote, business, currency, debt, denomination, denominations, depression, economic, economics, economy, high, hungarian, hungary, hyperinflation, inflation, million, milpengo, monetary, money, paper, pengo, post, recession, unstable, war, wealth, worthless