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The worst hyperinflation ever recorded took place in Hungary in 1946 at the end of World War II. As in Germany, the hyperinflation that occurred in Hungary was a result of a requirement to pay reparations for the war that had just ended. Economists estimate that the daily inflation rate in Hungary during this period exceeded 200%. During this period, prices in Hungary doubled every 15 hours.Inflation of the Hungarian currency was so out of control that the government issued an entirely new currency for tax and postal payments. Officials announced the value of even that special-use currency on a daily basis due to massive fluctuations. By August of 1946, the total value of all Hungarian bank notes in circulation was valued at one-tenth of a United States penny.
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