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| 背面描述 | The reverse, also printed in blue, is entirely typographic and ornamental, centred on a large cartouche with elaborate guilloche scrollwork containing the denomination legend "EGY MILLIÁRD MILPENGŐ" in bold serif lettering. Two smaller circular guilloche medallions, each enclosing the numeral "1" over the word "MILLIÁRD", flank the central cartouche at left and right, while decorative foliate corner pieces with stylised bird motifs occupy all four corners within a fine scalloped outer border. |
| 背面铭文 | EGY MILLIÁRD MILPENGŐ 1 MILLIÁRD 1 MILLIÁRD (Translation: One thousand billion Pengoes) |
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The milpengő — literally "thousand pengő" — was a unit introduced in mid-1946 as Hungary's hyperinflation made lower denominations arithmetically unworkable. This note, denominating one billion milpengő, was itself equivalent to one quadrillion original pengő at issue. Hungary's inflation of 1945–46 remains the most severe ever recorded anywhere; the daily inflation rate peaked at around 207 percent in July 1946.
Endre Horváth designed and engraved the entire series under extraordinary pressure, with new denominations being commissioned faster than the ink could dry on previous ones. The stabilization came on 1 August 1946, when the forint replaced the pengő at a rate that made every pengő note in circulation essentially worthless overnight.