History·26 April 2026·5 min read
The pengő — the worst inflation in human history
In 1946, in Hungary, prices doubled every 15 hours. The all-time record, unbeaten to this day.
After World War II, Hungary experienced the fastest known hyperinflation. The currency, the pengő, devalued so fast that prices doubled almost twice a day.
Quintillion banknotes
The largest banknote in history by face value was issued. In the end, money was swept off the streets. Hungary had to introduce a completely new currency, the forint, in 1946.
The world inflation record is no glory — it's a warning written with a quintillion zeros.
