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01 August 1946

The Forint Is Introduced (August 1, 1946)

In the war’s aftermath, solving the issue of how to generate sufficient goods to meet public demand became the goal of every political party. Banknotes had to be issued in order to cover the costs of reconstruction and reparation, a situation leading to the largest inflation rate in world history and the subsequent devaluation of the pengő. After its introduction, Hungary’s new form of currency, the forint, proved stable in value and therefore capable of raising the quality of life in Hungary.

26 May 1946

Parliamentary election

01 October 1946

1 October: Delivery of judgements against the main war criminals in the Nuremberg Trials (Nürnberger Prozess)