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.