Since 2004. But, despite this, the national currency is still the forint. Hungary is projected to be one of the last countries to switch to a common European currency - this will happen in the next two years
The monetary unit of Hungary is not designated HUF, and inside the country it is written as FL on all price tags. Officially, one forint is equal to one hundred fillers, but in practice, fillers have long gone out of circulation due to high inflation. The smallest change that can now be found is equal to 1 forint. And the largest banknote is 20,000 forints.
The current Hungarian currency takes its name from the Italian city of Florence, where golden florins were minted. In the middle of the 19th century, the forint was called currency unit Austria-Hungary. And only after the end of World War II did the forints become the official currency, replacing the penge, which disappeared due to hyperinflation.
In the 70-80s of the 20th century, the Hungarian currency gradually depreciated due to weakness socialist economy. After democratic changes took place in the country in 1989-90, inflation reached 35% per year - it was during this period that fillers disappeared from circulation. But economic situation in the country gradually improved, and the forint significantly strengthened its position in the world market. The opposite problem arose: the high cost and stability of the forint significantly hampered the development of the country's exports.
At the beginning of the new millennium, a law was passed according to which the Hungarian currency can only be traded within 240.01 - 324.71 forints per
Forints have a high degree counterfeit protection - they have security threads, holographic stripes. If you look at the light, then the abbreviation will definitely appear on the forints national bank or the coat of arms of the country. The currency of Hungary is made in two primary colors - light green and light purple. The images on the banknotes are quite traditional - these are the famous Hungarian historical figures Lajos Kossuth, Istvan Sechenya, Istvan the Holy and others.
Currency in Hungary is exchanged at specialized official points. It is better to keep the exchange check so that there are no conflicts with local authorities. It is allowed to make an exchange in banks, travel agencies, post offices, hotels and exchange offices. Travel agencies take 1% commission for exchange, and in post offices the exchange rate may be lower than the market rate.
It is better not to change large amounts so that you do not have to make a reverse exchange later. This will be very difficult, since banks in Hungary can convert no more than the United States and take a 7% commission, plus you will need to present a receipt for the original exchange and your passport. If you want to buy more than 20,000 forints, then you still have to show your passport. The way out in this case is the active use of credit cards, and there are no problems with this in Hungary.
Hungarian banks are open until 15:00, they are closed on Saturday and Sunday. But this is not critical, since the exchange can be done through ATMs or numerous exchange offices.
You can import and export any amount in foreign currency into the country. But there are restrictions on the export of forints: no more than 10,000 in total amount, and only in denominations of 1000 forints.
If you buy goods in specialized duty-free shops, you can count on VAT refunds from 12% to 25%. To do this, when leaving the country, customs services will need to show the goods in their original packaging so that they put the appropriate stamp on the original invoice and issue a VAT refund form. VAT refunds are processed within 90 days.
Currently, for 10,000 you will pay approximately 44 US dollars, 36 euros or 1400 Russian rubles.
After the accession of Hungary to the European Union, a rather significant period of time has passed. However, the country has not yet met some conditions for EU membership. In particular, Hungary has not changed its national currency to the euro.
On September 27, 2005, Ferenc Gyurcsany (Prime Minister of Hungary 2004-2009) stated: “We must weigh what is best for Hungarian economy: fast and strong contraction budget deficit with all its social, economic and investment implications, and then with the adoption of the euro in 2010 or a smoother transition. This is something we must calmly and wisely analyze. And probably by the end of the year we will be able to give an answer.”
However, judging by the position of the Hungarian government, Hungary is not in a hurry with its entry into the eurozone, and speaks about maintaining the forint as a state currency.
The Hungarian currency is represented by a monetary unit called the forint. Today, the Hungarian forint dominates in the calculations taking place within the Hungarian Republic.
The name of the currency comes from the name of the city of Florence, where since 1252 gold coins were minted, which were called "fiorino d'oro" (golden florin).
Between 1806 and 1892, the forint in Hungarian was the currency of the Austro-Hungarian Empire, known as the Austro-Hungarian guilder or Austrian florin, which consisted of 100 kreuzers (krajcár).
On January 24, 1857, Austria signed a monetary convention (the Vienna Monetary Convention) with the German states, on the basis of which their currencies were unified. The guilder, which had previously been minted in the conventional footing in 1753, became equal to 1 guilder 5 kreuzers of the new currency.
Instead of the Cologne mark, the coinage was based on the customs pound (Zollphund = 500 g), from which 45 guilders were minted in Austria, and 30 thalers in the North German states. The guilder, which used to be divided into 60 kreuzers, began to be divided into 100 new kreuzers (Neukreuzer).
In accordance with the convention in the North German states, they began to mint the union thaler (Vereinstaler) and the double union thaler of the 900th sample, equal to 1.5 and 3 Austrian guilders, respectively. Allied gold coins were also minted - crowns (Krone) and half-crowns, respectively 50 and 100 pieces from a pound of pure gold. Austria retained the right to mint the Maria Theresa thaler and the ducat according to the 1753 convention footing.
The new monetary system was called the Austrian currency (Österreichische Währung) and from September 1, 1858 was recognized as the only legal one in the entire empire.
In 1866, after the Austro-Prussian War, Austria withdrew from the Vienna Monetary Convention, but continued to mint coins, which led to an increase in the issuance of paper money.
On coins and banknotes, different names of the currency were indicated. On banknotes, the denomination was indicated in guilders (Gulden), on coins - in florins (Florin).
1867 - 1892 Austro-Hungarian guilder, forint. Small change - kreuzer.
After the signing of the Austro-Hungarian agreement of 1867 and the formation of Austria-Hungary in 1868, the issue of coins with the Hungarian name of the currency - forint (Forint) began. Change coins in kreuzers were also minted in two types - indicating the denomination in German (kreuzer) and Hungarian (krajczár) languages. In 1862, for the Lombardo-Venetian kingdom, which was part of the Austrian possessions, change coins were minted with the denomination in soldo (soldo).
The years 1867-1873 were generally favorable for the development of the economy, but then a five-year economic crisis erupted, one of the results of which was a budget deficit, sometimes reaching 1/4 of the state budget. It was possible to reach pre-crisis levels only by 1881. For almost a quarter of a century after the formation of Austria-Hungary, paper guilders were kept wrong in relation to the coin, averaging 18%.
Since 1880, one side of the banknotes contained text in German (with the denomination in guilders), the other side in Hungarian (with the denomination in forints).
Gold and silver coins almost did not participate in circulation, they were preferred to be used for accumulation. Calculations almost completely switched to paper guilders.
1892 - 1920 Austro-Hungarian krone, heller/filler change coin.
On August 2, 1892, the Austro-Hungarian krone was introduced instead of the guilder. During the monetary reform, a transition was made from the silver standard to the gold standard. Previously issued coins and banknotes were in circulation until 1900 in the ratio: 1 gulden (florin) = 2 crowns, 1 kreuzer = 2 hellers.
Austro-Hungarian krone (Osztrák-magyar korona)- the monetary unit of Austria-Hungary from 1892 to 1918, as well as the monetary unit of the countries formed as a result of the collapse of Austria-Hungary. The change currency is 1; 100 crowns, in the Austrian part of the state it was called "heller", in the Hungarian part of the state - "filler" (filler).
On banknotes, the name of the currency was also indicated in other languages of the empire: Czech, Polish, Ukrainian, Italian, Slovenian, Croatian, Serbian, Romanian. Sometimes the Latin name was used.
In 1873, an economic crisis broke out in Austria-Hungary, resulting in a budget deficit that sometimes reached 25%. It was possible to reach pre-crisis indicators only after 5 years.
For almost a quarter of a century after the formation of Austria-Hungary, the priority of paper guilders in relation to the coin was maintained, averaging a ratio of 18%. Gold and silver coins almost did not participate in circulation, they were preferred to be used for accumulation. Calculations almost completely switched to paper guilders. By 1889, it was possible to stabilize the budget and ensure its surplus.
On August 2, 1892, a new monetary unit, the crown, was introduced, while the issuance of banknotes in crowns began in 1900. Under the previous monetary system, a coin was also issued, called the "crown", it was a gold coin of the 900th sample weighing 11.1111 g, its minting was discontinued in 1866.
The name of the monetary unit comes from the name of the symbol of royal power - "crown".
The coins were minted by the mint in Vienna. In 1908, commemorative coins of 1, 5, 10, 20 and 100 crowns were issued for the 60th anniversary of the reign of Franz Joseph. All inscriptions were made in Latin.
1919 - 1926 Hungarian krone, filler change coin.
Hungarian krone (Magyar korona)- the monetary unit of Hungary in the period from 1919 to December 31, 1926. Initially, it circulated in parallel with the Austro-Hungarian krone, in a ratio of 1: 1, which was finally replaced in March 1920.
Having depreciated as a result of inflation, from January 1, 1927, the krone was replaced by pengo.
November 6, 1918 Karolyi, (Count Mihaly Adam Gyorgy Miklos Karolyi de Nagykaroyi - the first president of Hungary), proclaimed Hungary a republic and assumed the powers of the president. In an attempt to keep Hungary within its pre-war borders, at the end of 1918 the government negotiated with representatives of Croatia, Slovakia and Transylvania, persuading them to remain part of Hungary. The negotiations ended unsuccessfully. Slovakia united with the Czech Republic, the southern Slavic lands became part of the Kingdom of Serbs, Croats and Slovenes. On December 1, 1918, the Romanian National Council of Transylvania voted in favor of joining Romania, Romanian troops were introduced into Transylvania. By mid-January 1919, in addition to the territory approximately corresponding to modern Hungary, only part of modern Transcarpathian Ukraine and western Transylvania were under the control of the Hungarian government.
One of critical issues The problem that had to be solved by the new states formed after the collapse of Austria-Hungary was the stabilization of the exchange rate and the prevention of its further depreciation. Negotiations were held between the Austro-Hungarian Bank and the newly formed states, in which it was decided to allow all new states to appoint emissaries themselves to control emissions, but having lost confidence in the bank, the new states began to create national monetary systems.
On March 21, 1919, it was planned to stamp banknotes in Hungary, but the political instability of this time did not allow the formation of its own monetary system.
On May 9, 1921, the issue of state banknotes (Államjegy) began. Initially, they were issued by the Treasury, and on July 11, 1921, the Royal Hungarian National Bank, which received the right to issue and began operations on August 1.
The Hungarian government has provided significant amounts of subsidized loans to the private sector. This created a significant burden on the state budget and fueled inflation. Between March 1923 and February 1924, the average monthly inflation rate was 46%, the maximum monthly inflation rate was 98%. Prices for the specified period increased by 44 times. The denomination of issued banknotes gradually increased.
1927 - 1946 Pengyo, change coin - filler.
On November 25, 1925, a law was passed introducing a new currency - pengyo. Initially, it circulated in parallel with the Austro-Hungarian crown, in a ratio of 1:1.
In 1926, banknotes in kroons of 1920 and 1922 samples were withdrawn from circulation (except for banknotes of small denominations - from 1 to 50 kroons), as a result of which the variety of types of banknotes of the same denominations in circulation was eliminated. In the same year, the production of new pengyo coins and banknotes began. The kroon depreciated as a result of inflation, and from January 1, 1927 was replaced by the penge.
On January 1, 1927, the pengyo was put into circulation, the exchange was made in the ratio: 12,500 crowns = 1 pengyo. Banknotes with denominations from 1000 to 1 million kroons were overprinted with a new denomination (in pengö or fillers). Banknotes in denominations from 1 to 100,000 crowns were in circulation until June 30, 1927, banknotes of 500,000 and 1 million crowns - until June 30, 1928.
1945-1946 Military Pengyo
Military Pengyo (Pengő) - banknotes, issued by the Soviet military command in Hungary and circulated in 1945-1946 in parallel with pengo.
In September 1944, Soviet troops entered the territory of Hungary. In the country at that time, the banking emission mechanism was completely upset.
The Allied Control Commission for Hungary, established in January 1945, suggested that the USSR government begin issuing military banknotes.
Banknotes were printed in the USSR, contained the inscription "A Vöröshadsereg Parancsnoksága" (Red Army Command) with the year 1944. Banknotes had a simple graphic pattern, one- and two-color colors.
On January 20, 1945, representatives of the provisional government of Hungary signed an agreement in Moscow on the cessation of hostilities.
The history of pengyo is sad. After the end of the war, on August 31, 1945, the exchange rate of the US dollar to pengyo was 1320.
Since January 1946, in order to stabilize the situation, an ersatz-currency unit "adopenge" (tax penge) was introduced. The adopenge was initially equated with the penge, but was only used by banks and the government as a more stable unit of account. After 3 months, at the end of March, the dollar was estimated at 1,750,000 penge, which is approximately 40,000 adopenge - that is, adopenge has approximately tripled since the beginning of the year.
However, in April both currencies collapsed. Before May 1, the dollar was worth 59 billion penge, or 94 million adopenge. Banknotes of 100 million and 1 billion penge were introduced. In order to reduce the number of zeros on banknotes, a million penge was renamed into 1 milpeng.
During the next "denomination" milpenge was recognized as too small a unit, and the concept of B.-penge (bilpenge) arose, which means a billion - this corresponds to a trillion penge or a million milpenge.
Forint (forint)- monetary unit of modern Hungary.
The forint was restored in money circulation Hungary since August 1, 1946, The introduction of a new currency took place under the roar and creak of a barely breathing economy that survived the Second world war, and earned on it a terrible hyperinflation, when pengyo went out of circulation, the ratio of pengyo to forint was 4 1029: 1.
In 1946, 10 and 100 forint notes were introduced by the Magyar Nemzeti Bank (Hungarian National Bank). A new series of higher quality banknotes (10, 20 and 100 forints) was introduced in 1947-1948. A 50 forint note was added in 1953, 500 forint was introduced in 1970, followed by 1000 forint in 1983, 5000 forint in 1991.
Currency sign - Ft, banking ISO 4217, code - HUF.
Historically, 1 forint = 100 fillers (fillér), but since 1999, the filler has not been in circulation.
From 1997 until 2001, a new series of banknotes was issued with improved security features. The size of banknotes is 154 × 70 mm.
Banknotes are printed by Hungarian Banknote Printing Corp. in Budapest or Diósgyőr Papermill in Miskolc.
On November 16, 2015, the forint entered the list of freely convertible currencies used in settlements in the international interbank system CLS.
Many financial analysts Hungary believes that the absence of the euro in circulation, at the moment, has significant advantages for the country. “According to the current alignment of the stars, the introduction of the euro can be assumed no earlier than 2020,” Prime Minister Viktor Orban said in 2011. Based on the foregoing, some European financiers expressed an opinion about the introduction of the Euro by Hungary in 2015. It should be borne in mind that with the introduction of the euro, a number of serious changes will take place in the country, and standards will be introduced into the economy that Hungary is not yet ready for.
Carrying out liberalization tax policy provides real assistance to the economy, and the government of Viktor Orban is trying to effectively use this for strategic national decisions.
The Hungarian currency is represented by a monetary unit called forint, 1 Hungarian forint is equal to 100 fillers, since the beginning of the twenty-first century, the filler has not been in circulation. Coins: 1, 2, 5, 10, 20, 50, 100 forints each. Banknotes: 100, 200, 500, 1000, 2000, 5000 and 10000 forints. In this form, the Hungarian currency was put into circulation on August 1, 1946, replacing the pengo, which disappeared in the post-war hyperinflation. The name of the Hungarian currency forint comes from the name of the city of Florence, where a gold coin called the golden florin was once minted. In 1857-1892, the forint in Hungary was called the Austro-Hungarian currency, called in German the Austrian gulden or the Austrian florin. From 1998 to 2007, coins in denominations of one and two forints were withdrawn from circulation, as well as a bill of 1000 forints, which did not have a holographic security strip. The Hungarian currency in the form of banknotes of all denominations of the forint is made in the same style, some banknotes have modifications. The 5000 forint banknote depicts a portrait of Count Istvan Széchenyi, a well-known Hungarian politician and philanthropist. On the reverse side is his mansion. The Hungarian forint on other denominations is represented by the image of historical figures of Hungary: King Stephen the Saint, Lajos Kossuth and others.
All denominations of the Hungarian forint include the following protection: watermarks, holographic stripes, security threads. When viewing a forint bill through the light, you can see the abbreviation of the national bank of Hungary or the coat of arms of the country. The currency of Hungary mainly uses purple and light green colors. The country is free to import and export foreign exchange, while the rate of the Hungarian forint is calculated at the current bank rate. The local Hungarian currency can be exported in an amount not exceeding ten thousand forints and only in thousand denominations. It is recommended to exchange currency in Hungary only in officially authorized places and keep a receipt for the operation performed in order to avoid further conflicts with government officials. Money can be changed at post offices, travel agencies, exchange offices, banks and hotels. It is better to change large amounts in trusted establishments. The reverse exchange is a difficult operation, Hungarian banks convert only half the amount, but not more than a hundred US dollars, while deducting about ten percent of the commission, you must present a receipt for the initial exchange and a valid passport. The purchase of more than twenty thousand forints at the exchange office is made only upon presentation of an identity document. Accepted everywhere credit cards and traveler's checks of the world's leading payment systems.
Updated 03/07/2019
The Hungarian currency is called the forint and it is the main character of the article. If you want to know what kind of money in Hungary and what currency to take to Hungary, which exchange rate forint to euros, dollars or rubles, where it is best to change money, then the post will be useful. Surely, many thought that the country was paying with euros, because Hungary is part of the EU. Now you know that the Hungarians have their own national currency - the forint.
A small lyrical digression. Not me noticed, but the fact is really worthy of attention. European countries, which have not switched to the euro, compare favorably with their neighbors in terms of prices. The Czech Republic with crowns, Poland with zlotys and Hungary with forints are heaven for budget travelers. Both housing and public transport, and food - everything here costs less than in countries that have abandoned their national currencies.
The currency of Hungary is directly related to the Italian Florence. Here, in the 13th century, they began to mint a gold coin - the golden florin. The Italians are generally great: they actively developed banking and usury. The name florin was used in many countries, including in the Austrian lands. Only now the Hungarians called it in their own way - forint. The currency had another name - the guilder. It lasted until 1892 and then was replaced by the Austro-Hungarian krone.
The krone has been in circulation in Hungary for a little over 30 years. After the First World War, terrible inflation swept the country. In 1926, the authorities decided to abandon the Hungarian krone in favor of the Hungarian pengo. But this Hungarian currency also existed for a very short time - less than two decades. The war is also to blame for the disappearance of pengyo, but already the Second World War. In it, Hungary fought on the side of Nazi Germany, that is, actually lost. Inflation has started again. But at times worse than the one that flourished in the 20s. In August 1945 for one American dollar gave 1,320 pengyo. By the end of that year, the exchange rate was 128,000 pengyo. The government did not have time to print new banknotes: denominations of 100 thousand, 1 million and even 10 million pengyo.
By May 1, 1946, the pengyo exchange rate against the dollar reached an astronomical value - 59 billion. Banknotes of 100 million and 1 billion pengyo appeared in circulation. To reduce the number of zeros, new names of currencies were introduced: 1 million penge turned into 1 milpengyo. But even this monetary unit was recognized as too small. Banknotes called bilpengyo were put into circulation, which corresponded to one trillion pengyo. So the currency of Hungary acquired banknotes in denominations of 1, 10 and 100 million bilpengyo. It was also planned to put into circulation a bill of one billion bilpengyo (sextillion pengyo), which became the largest banknote in the world at face value. It was printed, but did not have time to go into circulation.
At this time, the Hungarian Communist Party came to power in the country, which carried out a monetary reform. The Hungarian communists return the forint.
The new authorities managed to stop hyperinflation and for two decades the Hungarian forint was a stable currency. But then hard times come for her, she gradually becomes cheaper.
For example, earlier 1 forint was divided into 100 fillers (by analogy, 1 ruble - 100 kopecks). At various times, coins of 2, 5, 10, 20 and 50 fillers were minted, but due to rising inflation, the authorities decided to abandon it. In the mid-90s, the filler began to be withdrawn from circulation, and now they can only be found in the collection of a numismatist or junk dealer.
The same fate befell coins in denominations of 1 and 2 forints. They began to be withdrawn from circulation in 2008. Coins finally disappeared from the wallets of Hungarians in 2013. In modern Hungary, the national currency account starts from 5 forints. Moreover, if the amount in the check in the store is, for example, 2113 forints, it will be rounded up to 2115, and if 2111, then to 2110.
The currency of Hungary today has six coins of various denominations - 5, 10, 20, 50, 100 and 200 forints. The last two coins are bimetallic, that is, they are minted using two types of metal.
Many people like to bring back coins from the country they have visited. For such lovers, I will tell you what is minted on metal Hungarian forints.
The 5 forint coin depicts a great egret;
Collecting this collection during a trip to Hungary will not be difficult, since when you pay in cash, you will often change change.
There are six different denominations of banknotes, as well as coins: 500, 1000, 2000, 5000, 10,000 and 20,000 forints. Previously, a banknote with a denomination of 200 forints was in circulation, but after the start of issuance (in 2009) of a coin with the same denomination, it was withdrawn.
What is depicted on the banknotes of the Hungarian currency? On the front side of paper forints there are images of famous Hungarian figures. On the reverse side are various sights.
In Hungary, since the beginning of 2017, new banknotes in denominations of 2000 and 5000 forints have entered circulation.
The images on them remained the same, but the banknotes received a new color, more modern ways protection. Old banknotes of this denomination are gradually being withdrawn from circulation. Until July 31, 2017, they were accepted everywhere and everywhere, but now it is impossible to pay with them in cafes and shops.
But do not worry: in any bank branch you can exchange an old banknote for a new one absolutely free of charge. Old money will be exchanged in this way until 2037. The same story with banknotes of 1000 and 20,000 forints. They have all been replaced with new ones and the old ones cannot be paid off. But the 10,000 banknote now has two variants in circulation: the old and the new.
The last to be updated was the 500 forint banknote. Since July 2018 there has been new banknote saturated red. The old 500 forint banknotes will be withdrawn from circulation until October 31, 2019.
The forint exchange rate against the ruble depends on the euro exchange rate. Usually the exchange rate of 1 Russian ruble varies between 3.7-4.5 forints. The easiest way is to assume that 100 Hungarian forints are equal to 25 rubles. For example, a one-time trip to the city costs 350 forints, that is, about 85 rubles.
But I told about the exchange rate of the ruble to the Hungarian forint only for visual representation. It is best to travel to Hungary with euros or dollars. It will not be profitable to exchange rubles for forints either in Russia or in Hungary - infa 100%. Currently (the information is always up-to-date, as I update it every few months) 1 dollar costs approximately 280 forints, 1 euro - 320 forints.
On the left is an informant that shows actual exchange rate Hungarian forint to euro, Israeli shekel, ruble, dollar and Ukrainian hryvnia. This information will help you understand which exchange office is profitable and which is not. It remains only to find out where it is best to exchange euros and dollars for Hungarian forints. Below I will give advice on the exchange, as well as talk about my favorite network of exchange offices, in which I change money 95% of the time.
Where is the best place to change dollars and euros in Budapest? My advice is very simple: change in the city center, but first go to a couple of three exchange offices and compare the rate. The first time I did that.
Now I change euros for Hungarian forints in the same place, more precisely in exchangers of the same network. It's called Correct Change. The number of exchange offices of this network is constantly growing. Addresses of exchangers, as well as the current exchange rate, see the official website correctchange.hu.
Another important nuance, which is worth knowing - the commission for the exchange. It is available in 99% of exchange offices, as a rule, it is a modest 0.3% and is called an administrative fee. Read about another type of commission below - in the tips. There are also such exchangers in Budapest that do not charge any commission. During my entire stay in the Hungarian capital, I saw only one - not far from the Oktogon metro station. If you know others, please share their addresses in the comments.
Always yours, Daniil Privolov.
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The Hungarian currency (forint) has deep historical roots. Hungary is one of the countries that is in no hurry to change national money to the euro. Hungarians abbreviate the name of the currency to the letters Ft, and the international currency code looks like HUF.
The common noun "forint" arose from the name of the city of Florence, which began issuing fiorino d "oro gold coins in 1252. Due to frequent economic and political upheavals, the country's currency changed. With the formation of the new state of Austria-Hungary, a new monetary unit appeared - austro - the Hungarian krone (later the Hungarian krone), which lasted from 1892 to 1927.
After the war 1914–1918 inflation swept the empire, which led to monetary reform. The Hungarian pengo was put into circulation, equal to 12,500 crowns. New currency Hungary lasted until the next economic crisis after the war 1939–1945 In the second half of 1946, the forint returned to circulation, replacing the pengo.
Since the end of the 19th century, the forint was divided into 10 fillers, which was preserved in the 20th century with the introduction of the currency. The Hungarian currency (forint) was stable for a long time, but with the collapse of socialism, it underwent inflation. Reforming the country's economy helped save it from another replacement. Nevertheless, inflation left its mark: fillers were completely withdrawn from the country's circulation in 1999 due to their uselessness.
The Mint of Hungary after the return of the forint issued coins of 1, 2 and 5 Ft. The money was made of silver. In the next 20 years, the country began to issue the Hungarian forint in denominations of 10, 20, and since 1992, coins in denominations of 50, 100, 200 Ft were added to them.
Fillers were issued in denominations of 2, 5, 10, 20 and 50. Since 1992, denominations of 2, 5 were withdrawn from circulation, after some time the fillers were completely eliminated.
Currently in cash flow countries participate coins of 5, 10, 20, 50, 100 and 200 forints.
After the approval of the forint in 1946 as the national currency, paper equivalents of 10 and 100 Ft were issued. A year later, 20 Ft banknotes entered circulation. 50 forints were issued only in 1951. In the course of inflation, the denomination of banknotes increased: 500, 1000, 2000, 5000, 10,000, 20,000 forints.
On the front side of the bills one of the great figures of Hungary is depicted, and on the reverse side - the area that is associated with the leader. Banknotes are protected by watermarks and an interspersed metal strip, some contain a holographic stripe.
Banknotes, regardless of the denomination, have the same size: length - 15.4 cm, width - 7 cm. Money is rarely counterfeited, there is more danger in exchanging dollars or euros for forints outside special points.
The country joined the EU back in 2004, however, since then it has been in no hurry to eliminate the national currency. Along with Poland, the Czech Republic and several other countries, Hungary does not allow the euro into circulation.
I must say that Hungary itself does not suffer from the absence of the EU currency in circulation. The euro currency is easily exchanged for forints at exchange offices at a favorable rate. Currently, 1 euro can buy 312 forints.
Now Hungary applies a policy of floating exchange rate. The inflation rate acts as the exchange rate anchor.
When going to Hungary, it is worth considering that the best option would be to take euros or dollars with you. It is not necessary to chase forints on the territory of your country. It is unlikely that it will be possible to make an exchange at a favorable rate, and besides, cash is practically not needed.
Exchange offices work only on weekdays, on weekends you can only find them in the center of Budapest. After the transaction is completed, a certificate is issued confirming the official currency exchange, which is recommended to be kept until the moment of departure from the country.
The Hungarian currency is a reliable and stable monetary unit that has gone through a difficult path of development. When the euro will go into circulation is still unknown. Perhaps Hungary itself is not particularly interested in this.
