Which currency replaced Hungary’s pengő in 1946?

The Hungarian forint replaced Hungary’s pengő in 1946.

Hungary introduced the forint on 1 August 1946 after the pengő suffered one of history’s most severe episodes of hyperinflation. Prices rose so rapidly that the government needed a new currency to restore confidence and make ordinary transactions workable. The forint was divided into 100 fillér, although fillér coins later disappeared from circulation.

The name forint comes from the florin, a gold coin associated with Florence and used as a model for several European currency names. Hungary’s central bank, the Magyar Nemzeti Bank, issues forint banknotes and oversees the currency system.

The 1946 change is sometimes confused with Hungary’s earlier currency reforms. The pengő had been introduced in 1927, replacing the korona, while the forint arrived after the Second World War and the pengő’s collapse. The forint remains Hungary’s official currency despite the country being a member of the European Union.