100 000 Adópengő Tax note

The adópengő was a parallel accounting unit introduced by the Hungarian government in January 1946 specifically to index tax payments and public accounts against the catastrophic hyperinflation consuming the regular pengő. It was never intended as a circulating currency in the conventional sense — more a fiscal stabilizer, a way to denominate government obligations in something that could be adjusted daily against a published index. By mid-1946, the index multiplier had grown so extreme that nominal values on these notes were essentially meaningless within days of issue.

Hungary's hyperinflation of 1945–46 remains the most severe ever recorded, with the daily inflation rate peaking above 200% in July 1946. The 100,000 adópengő denomination, enormous by any prewar standard, was already inadequate before the series was withdrawn.