“A Hurricane of Noughts”
(Rec. 11.15 a.m.) LONDON, August 4. Hungarians on a fixed income have been ruined following the complete disappearance of the pengo which, after the wildest inflation in history, disintegrated under a hurricane of noughts, says The Times Vienna correspondent. Million, billion and trillion notes were issued in the last days of inflation and the dollar was calculated in a figure with more than 20 noughts. New Hungarian currency, the guider, replaced the pengo at the week-end. A convoy guarded by Russians and Americans is en route to Budapest with Hungary s displaced gold, which is to back the new currency. The guider has been fixed at 96.34 to one golden sovereign, and 11.62 to the dollar.
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Greymouth Evening Star, 5 August 1946, Page 5
Word Count
120“A Hurricane of Noughts” Greymouth Evening Star, 5 August 1946, Page 5
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