10 000 000 Drachmai

This note belongs to the terminal phase of the Axis occupation hyperinflation, one of the most severe currency collapses in modern European history. By late 1944, Greek prices were doubling every few days, and the Bank of Greece was printing increasingly astronomical denominations just to keep pace with daily transactions. The 10,000,000 drachmai note was not an outlier — it was a practical necessity.

Printed domestically under occupation conditions, the Athens works were operating under severe material constraints. The series culminated shortly before liberation in October 1944, after which the new Allied-backed currency authority replaced the entire drachmai series at a rate of 50 billion old drachmai to one new drachma.