Greece Hyperinflation Banknotes

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5,000,000 Drachmai 1944

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100,000,000,000 Drachmai, 1944

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This note is not in my collection. Scans courtesy of Ron Wise

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Greece went through a period of hyperinflation, starting with the German-Italian occupation in WWII and up until early 1950s. The highest denomination before 1941 was 5,000 Drachmai. By late 1944, it was 100,000,000,000 Drachmai. In two subsequent currency reforms, 1 Drachma was exchanged for 50,000,000,000 old Drachmai (1944), and 1 Drachma for 1,000 old Drachma (1954). The overall impact of hyperinflation: 1 (1954) Drachma = 50,000,000,000,000 pre 1944 Drachmai.

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