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1 000 000 Lei
| Issuer | Banca Națională a României |
|---|---|
| Year | 1947 |
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| Reference(s) | P#60 |
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|---|---|
| Obverse lettering | BANCA NATIONALA A ROMANIEI GUVERNATOR CASIER CENTRAL UN MILION LEI FALSIFICATORII ACESTOR BILETE, ACEI CARE VOR FI INTREBUINTAT BILETE FALSE, COMPLICII LOR, PRECUM SI ACEI CARI VOR FI INCERCAT A COMITE ASEMENEA FAPTE VOR FI PEDEPSITI CONFORM LEGILOR PENALE Ș. ZAINEA (Translation: NATIONAL BANK OF ROMANIA GOVERNOR CENTRAL CASHIER ONE MILLION LEI THE COUNTERFEITERS OF THESE TICKETS, THOSE WHO WILL HAVE USED FALSE TICKETS, THEIR ACCOMPLICES, AS WELL AS THOSE WHO WILL TRY TO COMMIT SUCH DEEDS WILL BE PUNISHED UNDER CRIMINAL LAWS Ș. ZAINEA) |
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| Reverse lettering | ROMANIA 1.000.000 |
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| Comments |
Romania's postwar hyperinflation was among the worst in European history, and this note belongs to the period of its peak. By 1947, the leu had collapsed so severely that denominations in the millions had become routine transactional currency rather than emergency instruments. The Groza government's failure to stabilize prices after 1945 drove successive redenomination proposals, and this issue — one of the highest face values in Romanian interwar and postwar paper money — was already near-worthless in purchasing terms within months of its appearance.
The monetary reform of August 1947 extinguished the old leu entirely, replacing it at a punitive conversion rate that wiped out most private savings. Notes of this denomination were among the last casualties.