Hungarian Forint

About The Hungarian Forint: The Currency of Hungary

Quick Facts About the Hungarian Forint Notes

Country of Origin	Hungary
Symbol	Ft
Currency Code	HUF (numeric- 348)
Nick Names
Minor units	Fillér (defunct)
Denominations (Banknotes)	500 Ft, 1,000 Ft, 2,000 Ft, 5,000 Ft, 10,000 Ft, 20,000 Ft
Motto
Identification Feature	Each Hungarian forint banknote has an image of a well-known Hungarian politician or leader on the obverse and a location or event connected to him on the reverse. The banknotes are entirely watermarked, have a vertical security strip inserted in them, and are accessible to those who are blind. An interwoven holographic security strip is used to secure notes worth 1,000 Hungarian forints and above. The dimensions of all the notes are 154 mm by 70 mm (6.1 in x 2.8 in).
Issuing Bank	Magyar Nemzeti Bank (Hungarian National Bank)
In Circulation Since	1st August, 1946

Hungary's official currency is the Hungarian forint. The Hungarian forint symbol is Ft. It used to be divisible into 100 fillér, but there are no longer any fillér coins in use. The Hungarian forint was introduced on August 1, 1946, and it remained mostly steady until the 1980s. This was an important step in the post-World War II stabilisation of the Hungarian economy. As a direct consequence of the transition to a market economy that took place in the early 1990s, inflation skyrocketed to a record high of 35% in 1991. The value of the Hungarian forint can be exchanged for any other currency, and the country's overall inflation rate was less than 10% between the years 2001 and 2022. Inflation skyrocketed to a rate of 10.7 percent in May of 2022 as a direct result of the Ukrainian War and the accompanying economic upheaval. Although the present Hungarian administration has not set a timeframe for the adoption of the euro, it is possible that doing so in the long term as a member of the European Union is a long-term goal.

The live Hungarian forint rate falls and rises all the time. However, the Hungarian forint price has remained relatively constant recently. The current rate for the Hungarian forint to INR is 0 🔄.

History of the Hungarian Forint

Between 1868 and 1892, the Hungarian forint was initially introduced. But the current forint wasn't established until 1946. Following World War II, it was intended to stabilise the economy of the country. The name of the Hungarian forint is derived from Florence's fiorino d'oro gold coins, which were minted starting in 1252 and circulated all across the Austro-Hungarian empire. In certain ways, the Hungarian forint exchange rate has remained steady. However, the Hungarian Forint rate in the foreign currency market has been hampered by the nation's economic uncertainty. Consider the following:

Following World War I, the Trianon Treaty was accepted. This had a number of disastrous impacts on the economy. More than 70% of its pre-war area and more than 60% of its pre-war inhabitants were lost as a result.

Prior to World War I, five of Hungary's top ten cities were annexed by nearby nations. The Hungarian Forint lost virtually all of its value due to the burden of war reparations and the reduction in its tax base. Annualized inflation peaked in 1923 and was close to 1,200%.

Currently, the Hungarian Forint to Dollar (USD) stands at 0.0026, while 1 Hungarian Forint to Euro is 0.0025.

Countries Accepting the Hungarian Forint

Amount in the Hungarian Forint You Should Carry for Your Trip

The Hungarian forint is used as the local currency. Forget that there are alternative currencies. Buy Hungarian Forint as much as you determine is required for the trip. Yes, they would accept Euros, especially at the cafés and restaurants centred around the major tourist attractions, but the exchange rate would be whatever the vendor determined to be profitable that day. Why would they, given that it is not the native currency? It also won’t help if you convert Hungarian Forint to Canadian Dollars.

Almost everything can be purchased with a credit card. It would be ideal if you had one with the Hungarian Forint Forex Cards option. If you wish to have cash on hand, there are several ATMs that you may use to withdraw a small sum. The national currency is the only form of legal money.

For your trip to Hungary, you should budget around 24,259 Hungarian Forint ($63) per day, which is the average daily price based on what previous tourists have spent there. Past visitors have spent, on average, Ft 3,450 ($9.00) on local transportation and Ft 6,425 ($17) on meals in one day. Additionally, a couple may stay at a hotel for Ft 24,244 ($63) on average in Hungary. Therefore, the average cost of a weeklong trip to Hungary for two individuals is Hungarian Forint 339,620 ($886).

However, don’t hope to sell Hungarian forint at a good rate, as that will surely be at your loss.