1 000 000 Milpengő

Hungary's post-World War II hyperinflation remains the worst ever recorded in history. By mid-1946, prices were doubling roughly every fifteen hours, and the pengő was being replaced by denominations that strained comprehension — the milpengő unit, equivalent to one million pengős, was itself so devalued that the one-million milpengő note represented one trillion original pengős. It was a unit created specifically because printing the actual number of zeros had become impractical.

The forint replaced the entire pengő series on 1 August 1946. The conversion rate was 400 octillion pengős to one forint.