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1000 Pengő Russian Occupation
| Issuer | Soviet Military Command in Hungary (Vöröshadsereg Parancsnoksága) |
|---|---|
| Year | 1944 |
| Type | Log in to see details |
| Value | Log in to see details |
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| Composition | Log in to see details |
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| In circulation to | Log in to see details |
| Reference(s) | P#M9 |
| Obverse description | The obverse is printed entirely in deep carmine-red on a lighter guilloche underprint. The centre carries the large denomination numerals '1000' flanked by ornate lathe-work medallions at each corner, with the issuing authority legend at the top and the denomination in full lettering across the middle of the note. A central cartouche bears the legal tender and anti-counterfeiting warning text alongside the year date 1944, while serial numbers appear in two positions framing the central inscription. |
|---|---|
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| Reverse description | Log in to see details |
| Reverse lettering | 1000 EZER PENGŐ (Translation: One thousand Pengoes) |
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| Comments |
When Soviet forces pushed into Hungary in late 1944, they arrived with their own occupation currency already printed — this 1000 Pengő was part of a series produced under Soviet military authority to pay troops and procure goods from the local population. The issuing legend names the Vöröshadsereg Parancsnoksága, the Red Army Command, a deliberate choice that sidestepped the existing Hungarian National Bank entirely.
The notes were printed in the Soviet Union, not Hungary, and injected into circulation without any formal backing. Hungarians had little choice but to accept them. They fed directly into the hyperinflationary spiral that would, by 1946, produce the highest recorded inflation in history — the pengő's eventual replacement, the forint, was introduced at a conversion rate of 400,000 quadrillion pengő to one.