The largest denomination of banknote ever printed was the pengo, a form of Hungarian currency used from 1927 to 1946, in the amount of 1 sextillion. It was created in 1946 but never actually issued because of the country’s hyperinflation, which is when there is a high amount of currency but not enough gross domestic product (GDP) to support it. Hyperinflation causes the value of currency to drop, so banknotes with high numerical values do not necessarily have much real market value. One of the largest denominations of banknote printed during the early 21st century was Zimbabwe’s 1 trillion dollar banknotes in 2008, when the country had the world’s highest inflation rate, but it was eliminated in 2009 when the country legalized foreign currency.
More about currency:
- Queen Elizabeth II is the person who has been featured on the most currency in the world, including the currency of 33 countries.
- During 2008, when Zimbabwe issued its 1 trillion dollar banknote, the country’s inflation rate was at 231 million%, and a loaf of bread cost about 300 billion Zimbabwe dollars.
- The largest banknote in physical size was the 100,000-peso note created in the Philippines in 1998. It measured 8.5 inches (21.59 cm) by 14 inches (35.56 cm).