Re: Femaru-Fegyver R.T.37M
They were made in Hungary, by the same company that now goes by its initials "F.E.G."
They are excellent pistols and good shooters. They were made in two calibers, .32 ACP (7.65mm Browning) and .380 ACP (9mm Browning Short). The gun was adopted in 1937 by the Hungarian Army in .380, and yours has the military marking, but barrels are interchangeable so it might have been changed to .32. During the war they were made for the Germans in .32 as the .380 was not in the German military supply system. I also understand there was some commercial production prior to the war.
Hungary was an ally of Germany, so there was no sabotage as there was in occupied countries, and all the guns are of good quality, though finish deteriorated somewhat as the war went on.