Currency in Hungary - Budapest Guide Budapest Guide Blog Currency in Hungary First of all, Hungary is a member of the European Union, but they have not started with the Euro yet. Many places you can still pay with Euro, but expect to receive forints back. If you do pay with Euros the shops normally give you little for your Euro, so you would do better to go change your Euros, and then go back into the shop and pay with forints (for example in McDonalds ). Forint is the official currency in Hungary. If you want to understand approximately how much money you are using, normally you can calculate it in this way: 1 American Dollar = 225 Forint 1 Euro = 300 Forint But, due to the financial crisis going on around the world, the calculation is going up and down. It was a time when you had to pay 230 forints to get one Euro, and there have been times when you have to pay 320 forints to get one Euro. That is why we want to give you some good advices concerning changing money in Budapest.

Instructions for changing money The places where you can change your money is always up to date on the latest values of the forint, so they will always know how much it is worth. They earn their money through you paying more for a forint than it is originally worth. But, someone lets you pay much more, others just a little bit more. So, how can I know that I receive a good rate? In times of big changes (when the forint is very unstable), the differences will be greater than normally. So in quiet times you can expect a difference on around between 5 and 10 when buying or selling forints for euro. If the market is unstable you can expect this to be between 15 and 20. One picture below is taken in a stable period, the other in an unstable period. The Euro difference at this picture is 6. You sell for 239, and buy for 245. The Dollar difference at this picture is 6. You sell for 169, and buy for 175. This picture was made in September 2008. The Euro difference here is 16.

You sell for 270 and buy for 286. The Dollar difference at this picture is 17. You sell for 208 and buy for 225. This picture was made in October 2009. Bargaining and giving tips It is quite normal in Hungarian to tip in restaurants, but it is also normal to tip guides, hairdressers and taxidrivers. It is not normal to bargain as you shop, except from in the Big Market Hall and in open air markets. Currency Converter Would you like to know what the value of the Forint is currently? Use our currency converter below: Currency converter Hungarian Currency, Exchange Rate in Hungary, Budapest Costs and Prices Tweet You'll often find that Budapest is a bargain compared to other European cities, because although Hungary is part of the European Union, it does not use the Euro as its currency.

The Hungarian currency is the Forint (Ft, HUF), which has the following denominations: notes - 500Ft, 1,000Ft, 2,000Ft, 5,000Ft, 10,000Ft and 20,000Ft; coins - 5Ft, 10Ft, 20Ft, 50Ft and 100Ft. Prices, such as hotel rates, sightseeing tours, etc. are often quoted in Euros. Many businesses, even including some select supermarkets accept Euros. Don't forget to check their exchange rates, as you might be better off exchanging your currency first and paying in Forints. Click for our Currency Converter ATMs are easy to find in Budapest, and there are many options for exchanging cash. Most often, currency exchange kiosks located in tourist areas or shopping malls offer the best exchange rates. Currency exchange is also available at banks at a surcharge. ATMs dispense Hungarian currency at your bank's daily exchange rate; however, you may be charged a foreign fee on top of the service fees.

Many international banks have branches in Hungary. Currency exchange is available at the airport at a significant surcharge (10%-15%). Following is a list of kiosks and websites for daily exchange rates and locations in Budapest and around the country: CorrectChange has five locations in Budapest (1073 Budapest, Erzsébet krt. 41., 1055 Budapest, Szt. István krt. 23., 1056 Budapest, Váci u. 39., 1114 Budapest, Bartók Béla u. 53. alagsor 4. and 1152 Budapest, Szentmihályi út 171.). CorrectChange publishes its exchange rates online, along with a complete list of locations and a currency converter. Northline has several currency exchange booths in Budapest, as well as a few located in smaller cities in Hungary. Their website is in Hungarian, however it’s still useful for their complete list of locations plus there is a handy currency converter in the sidebar. The Exclusive chain of foreign exchange companies offers locations both in Budapest and in several cities across Hungary.

They have downtown exchange booths in Budapest as well as locations in shopping plazas, malls and supermarkets. Each company has its own tab on their website and lists both exchange rates and locations. Interchange offers several locations across Budapest including the major train stations and both airport terminals. Their website does not have a currency converter. OTP , the National Savings Bank, offers daily cash and foreign exchange rates on their website (link to branch locator in top right corner). You can also check the Hungarian National Bank's (MNB) official daily exchange rates. While the MNB does not carry out foreign exchange activities and only shows the mid-point rates, it's a good indicator of daily exchange rates. Post offices also offer cash advances on most major credit cards, as well as for American Express travelers' checks. Please avoid using any type of travelers' checks, they are a thing of the past and will not be accepted in most places. You will also find that even if travelers' checks are accepted there may be a fee charged. Credit Cards, such as Visa, Master Card and American Express, are widely accepted. You will be able to use them at most hotels, shops and restaurants.

You may find that most museums, smaller shops, and even some restaurants do not accept credit cards. If you plan on traveling to the countryside, be sure to take some cash with you to cover your trip, as most businesses there are still largely cash-based. In main tourist areas (Váci Street and the Danube Promenade being the most notorious) and train stations you will likely be approached by people offering to exchange money at a better rate. Always avoid changing your money on the street, as you will most likely be scammed either by being given counterfeit bills, or a stack of newspaper that has been bundled up in genuine bills at either end. Budapest Costs The number of luxury hotels in Budapest is growing, as are the number of upscale restaurants. As you'd expect, these can be quite expensive. However, you will find that there are numerous cafés and restaurants offering great services and quality food at reasonable prices. Public transportation is affordable; a single ride is about US $1.50. An excellent bottle of Hungarian vintage wine can be found for around US $15.

Good seats for a world-class opera performance at the famous Budapest Opera House are less than US $50 (average price range is HUF 900–10,900 or US $5-$50 and the most expensive tickets at premier performances cost approx. HUF 16,900 or US $80). The entrance fee to the famous Gellert Baths is about US $18 and to visit a museum will cost you about US $5–10. A regular cappuccino will set you back US $2, but just keep in mind that prices can vary quite a bit depending on the type of establishment. Tipping in Budapest Tipping is very much part of the culture in Hungary, and most people will routinely tip waiters, taxi drivers, hairdressers and even gas station attendants. You will also find that attendants at thermal baths and various other service providers expect a small tip. In fact, it's hard to think of many places in Budapest where you won't need to leave a tip. Upscale restaurants, especially in luxury hotels, will likely have an attendant who will also expect a small tip.

Restaurants and Bars: 10% - 15% Gas station attendants: HUF 100-200 Public washrooms: HUF 100-200 - this is not really a tip, it's a fee for the use of public washrooms and toilets, as most of them still have attendants. Yes, even at places like Mc Donald's, Burger King or Central Market Hall. Our tip would be to always carry a few hundred forints in your pocket in case you get the urge to go, while touring the city. Tipping at restaurants in Hungary Many restaurants and cafés in Budapest add a 10% service fee, which is usually stated on the bill. If you are unsure, ask your waiter whether or not service was included. If the service fee is not included, unless you were completely unhappy with your service, it is customary to tip 10%-15% of the total bill. Tipping in Hungary's restaurants and bars is quite unusual and can be the source of some misunderstanding. You shouldn't leave the tip on the table. Instead, you are expected to tell your waiter how much you are paying in total or how much change you would like back.

Let's say for example that the bill is HUF 3,600 and you would like to give a 10% gratuity and pay with a HUF 5,000 note. In this case you would either tell the waiter that you are paying a total of HUF 4,000 or that you would like HUF 1,000 back in change. When the waiter brings you the bill, he will stand around until you let him know how much you are going to pay in total. This is not meant to be rude, it's just the way it's done in Hungary. When paying by credit card, you may also find that the waiter will bring the card reader to the table to complete the transaction. However, we are now seeing that more and more restaurants will bring your change back and let you leave a tip on the table, just like in North America. If you decide not to tip for whatever reason it is usually considered to be a strong signal of your dissatisfaction, yet it's unlikely that the waiter will confront you, as they might in a city like New York. Budapest: Currency, Cards, and Foreign Exchange - TripAdvisor Want the lowest hotel prices?

You're in the right place. We check 200+ sites for you. Budapest: Currency, Cards, and Foreign Exchange Review a place you’ve visited JOIN We'll send you updates with the latest deals, reviews and articles for Budapest each week. Budapest Traveller Article: Budapest: Currency, Cards, and Foreign Exchange Save Article The only official currency in Hungary is the Forint. Euros, or even Dollars or Sterling may be accepted by some tourist businesses, but very seldom at a reasonable exchange rate. Credit cards are commonly but not universally accepted. So it is wise to obtain some Forints for your stay even if you expect to use a credit card or debt card for as much as you can. It is also true that some few things aimed at tourists -- hotels, some apartments, some taxis -- may quote their rates in Euros or even prefer Euros. The Forint is a pretty rare currency and as a result (a) it tends to be hard to find and comparatively expensive when available in countries other than Hungary and (b) Hungary – which sits at the geographic center of Europe and its still-many currencies -- has for centuries been a very aggressive marketplace for currency exchanges. It’s cheap and cost-effective to trade currency in Budapest.

Here’s everything you need to know to do this intelligently: The short answer: Remember, this is a vacation (or a business trip), not an episode of Survivor. There’s no need to wring the last penny out of your exchange transactions if doing so will inconvenience you greatly or leave you potentially stranded without cash. Just try to avoid being gouged by the exchange bureaus at the airports and train stations. In other words: do not exchange currency at airports, hotels, and banks. There are literally thousands of 100% legit currency exchange offices. In Budapest, you usually find the best rates around the Grand Boulevard and Rákóczi Street area. They charge 0.3% mandatory commission. If you want to use your card (something that's can't be recommend) find out how much your ATM card issuer and your credit card issuer(s) will charge in foreign transactions. And find out who will do the currency exchange when using each card: MasterCard? Visa? Your own bank? Or someone else? Under most circumstances, if the exchange will be done by an entity other than Visa or MasterCard, try to avoid using that card.

If it will be done by Visa or MasterCard, as of the date of this writing (late July, 2013) the exchange should be within 1% (plus or minus .5%) of the exchange midpoint (the exchange rate generally published in newspapers or online). In mid-2013, OTP Bank began charging nearly 3% for ATM exchanges of dollars to forints. Probably other major banks are doing the same. In at least one instance, a credit union didn't make such a charge. Credit cards remain a low cost method of changing dollars into forints, as of May 2014. The long answer: Hungary doesn’t charge you anything to exchange money there. Well, hardly anything … there’s a tax of .3% -- that’s $3 for every $1,000. Beyond that, the ATMs don’t charge anything and as usual there’s no extra charge for using a credit card, so there’s nothing special about Hungary – it’s all about what they charge you at home.

Currency Exchange Bureaus: There are lots of exchange bureaus, there’s vigorous competition, there’s a real-time website that quotes the rates of many of them and displays them on a map (admittedly only in Hungarian, but a user’s guide follows below). If carrying cash and taking the time to exchange it intelligently doesn’t impinge on your trip, you will likely find that this is as good as, or better than, any other option. First , some tips that are true anywhere in the developed world. Don’t accept any offers to exchange currency covertly on the street or in a café. The better the deal you are offered, the faster you should walk away from it. If the person making the offer doesn’t have a bit of real estate – even a kiosk in a corner of a dress shop, don’t give it a second’s thought. Also, remember that once you slide your money under that bulletproof glass partition it’s likely going to be hard to get it back, so do your discussion before you hand the money over. And notice that they have money counting machines and a calculator and a computer.

You are standing there trying to figure out some way to avoid having the loitering tramp behind you notice which pocket you carry your wallet in. So, if you have a smartphone, use its calculator function to do some math before you even walk up to the window and ask how many Forints you’ll get for your money. Then compare their offer to your own math before you commit. Ask about how the commission is calculated before you decide on the transaction. And it can’t hurt to ask if they will waive the commission if you don’t need a receipt. Note that small transactions may be at a worse rate than posted on the street; large ones may be at a better rate than posted. Ask. And count your money before handing it over, within their field of vision. And count the money they give you before you leave. It’s not rude. The person on line behind you will forgive you. Your small child does not need to find a WC that badly. Go ahead, count it. OK, so here’s the routine: All legitimate places with fair prices will post two prices for each currency on a sign in the street: a ‘Buy’ rate and a ‘Sell’ rate. If you want Forint, you are selling your home currency.

That should be the lower number on the sign. At the end of the trip if you want to get rid of your Forints for your home currency, you are buying your currency back and that should be the higher number. Anyway, the important thing is the spread between the two numbers. Figure out how much it is for your currency. You’d like it to be less than about 2% total because that means an excellent rate of about 1% off the midpoint. Check what the midpoint is before you head out to exchange money ( xe.com or any of the many other live sources). This first one will map any bureau it finds if you click on the blue globe below the listing. Note that it can also add banks and other offices as well as exchange bureaus, and these can be selected or deselected at the top center. If you have an iPad it will warn that you need Flash for the charts, but you don't care about the charts, so click CANCEL rather than OK and you will go straight through to the part of the website you want. As of today, August 22, 2014 the best rate is offered by correctchange.com (physical locations listed).

In Budapest, usually the best rates are found outside downtown, the Grand Boulevard - Rakoczi Street neighborhood. You will find yourself staring at an unintelligible (because it is entirely in Hungarian) webpage; here’s what you do: leave that '1' in the top box in the first dropdown menu pick your starting currency in the next line, 'venni' means 'buy' and 'eladni' means sell ... click on eladni because you are selling that starting currency and buying Forints in the next dropdown menu pick 'Budapest' in the one below that (the third one down), pick 'Budapest' again in the one below that (the 4th), pick the district of interest; the Vth is the dead center of the city do nothing to the bottom-most dropdown menu and then click at the bottom left 'KERES' (search) you will get a list of many exchange bureaus, with addresses and realtime current rates they offer there will be a map below the list ATMs/Debit Cards/Credit Cards: To use any of these abroad they should likely have either a MasterCard or a Visa logo on them.

All foreign financial transactions are shaped like a wheel with lots of spokes and a hub at the center. That hub is a clearinghouse. The ATM is at the end of one spoke and your card issuer is at the end of another one. Most of the time the clearinghouse can be thought of as being Visa or Mastercard. So you stick the card in the ATM (if it is an ATM card; if it’s a credit card you may be able to do that but it will cost you as a loan or cash advance, which is usually pricey), and the ATM dials into the hub, which then dials out to your bank and finds out how much money you have. If you have enough money for the withdrawal you asked for, the hub tells whoever owns the ATM to give you that much money and it tells your issuing bank to replenish that much money to the ATM owner. The hub charges a fee for being the hub. It's a bank, after all, be grateful they don't foreclose on your impoverished mother's home or demand your first-born child.

These days the fee is quite small, 1% or less and your card issuer pays it and either swallows it or includes it in the fee it charges you if it charges you a fee. The only wrinkle is that you are taking out Forints and your home institution is sending off Dollars or Sterling or Euros or whatever. Someone has to do the transaction, and in theory it could be any of the three – ATM owner, MasterCard/Visa, or your home issuer. MasterCard/Visa generally will do it at a very favorable rate, within 1% or less of the midpoint. You can see what the midpoint is in real time here (and lots of other places): In the Short Answer if you followed that advice you found out who will do the currency exchange for each of your cards. If it’s the issuer, you likely should not use that card unless you have a very certain knowledge that they’ll do well by you. If it is Visa/MC will give you a favorable rate. These days, many ATMs will offer to do it locally, in the ATM owner’s venue. This is almost always a bad idea, a good bit worse than MC/Visa.

The language may be confusing, and it may seem to be the right thing to do because they will tell you exactly what rate they offer, and will not tell you who will do the exchange or what rate you’ll get if you don’t accept their offer. But bite your lower lip and turn them down. Just say No. If you do that, you should get your money for the cost of what your home issuer charges you plus about 1%. [A note on Capital One: they advertise that they charge no foreign transaction fees, and that’s true. BUT only for their credit cards (not their bank’s ATM cards) and only for use with vendors. If you use their credit card at an ATM you are taking out a cash advance and will be charged accordingly. If you have a CapOne ATM card from their bank, their No Foreign Transaction Charges ads don’t apply (though their rates are pretty good).] That’s it. If your bank charges nothing back home, using an ATM should cost about the same as using a currency exchange, and it’s far more convenient. If your bank charges a significant amount, you can easily find a currency exchange shop that won’t.

And here is a bit of empirical research: On September 6, 2013 the ATMs offered two options and only two: your card can be in your home currency, in which case the local bank servicing the ATM does the exchange and quotes you the rate; or it can be charged in the local ATM currency, in which case the exchange is conducted by the interbank network that your card uses (Visa or MasterCard), in which case usually (or perhaps always) you don't actually get a quote and have to see what your bank actually charges you (which, if you have it set up to do that, you may learn immediately via SMS from your bank, but it comes in after the transaction is complete). The network rates are extremely good. Your home bank does not seem to have the option to do the exchange at all. Either way, the charge comes in as a charge in one's home currency by the time it gets to the home bank. The home bank can add a fee for the transaction (Citibank, for example, in the USA adds 3%, which it adds either way, even if the traveler chooses to have the exchange conducted by the local bank of the ATM).

Using a range of cards, currencies, and ATMs on September 6, in Budapest, it was always a worse deal to accept the machine's offer; generally by about 8-10%. In terms of exchange bureaus, the hard part is figuring out how to factor in the new transaction fees (to offset the government tax on exchange transactions) when comparing rates. Here's what it looked like on September 6: The example involves exchanging Euros for Forints, but it seemed comparable in all currencies posted. This was an easy transaction for the math, because the midpoint on Sept. 6 was essentially 300 Forints to the Euro. There were rates offering as few as 270 Forints per Euro (at the kiosk in Nyugati Station) and as high as 299.6. Across the street from Nyugati the exchange bureau was offering 299. All the bureaus outside the station ranged from about 296 on up. So the question was how did the fees affect the transaction, since the rates clustered (mostly) quite close to each other?

Looking at the fee for an exchange involving 100,000 Forints -- a break point all the bureaus had in common and the math was easier than most -- several places expressed this as a percentage of the transaction, ranging from .3 to .6 per cent or .003 to .006 of the transaction. At 300 Forint to the Euro, each .003 subtracts about 1 forint per Euro, so the range was 1-2 Forints/euro in charges. Other places charge a flat fee, graduated by steps in terms of the total size of the transaction. For 100,000 Forints these charges range as low as about 300 Forints to as high as 700. That's .003 to .007, which is a similar spread. So, at an exchange bureau, the best imaginable deal -- if you could find then right combination of a high rate and a low commission -- would be about 1%, which was pretty much exactly the deal I was offered at Goldexchange on Terez korut on September 6. Share your knowledge Hungarian Currency.

Money In Hungary Hungarian Money Hungarian Notes and Coins Hungarian money is one of the things you have to think about if you are coming to Budapest. If you’re thinking of sightseeing in Budapest(which I highly recommend!)this information will be very useful. Here’s a little ‘tell-all’ guide to introduce you to all the essential details, plus a few extra things we thought you’d just find interesting… History of Hungarian Money The name ‘forint’ originally comes from the city of Florence, where golden coins were minted from 1252 called ‘fiorino d’oro’. This gold-based currency was used in Hungary from 1325 under King Karoly Robert and is still the currency of Hungary today. The forint was reintroduced in 1946 to help stabilize the post-WWII Hungarian economy, and it remained stable until the 1980’s and early 90’s, when transition to market economy devalued it and inflation peaked at 35%. This has been an entirely different story since 2001, with inflation sticking to a single digit and the forint being declared fully convertible.

Interestingly, the forint is the only currency that was once used by a socialist European state that’s still in use, but this is set to change with the European Currency (the EURO) taking over every European State – including Hungary, and the forint is expected to be replaced entirely by 2018. What Does Hungarian Money Look Like? The 500 Ft – On the front is Prince II Rakoczy Ference, one of the bravest independence fighters ever known and leader of the Rakoczy uprising (1703-1711). He later became the prince of Transylvania. On the back is the Castle of Sárospatak, which was in the hands of the Rakoczi family and numerous other noble dynasties. Sárospatak is a town in northern Hungary, about 70 km away from Miskolc. The 1000 Ft – On the front is King Matthias Corvinus (1458-1490), to whom Hungary owes it’s biggest extension. He’s an icon to the Hungarian people, with a church in Budapest named after him.

On the back is the Hercules Fountain from the Castle of Visegrad -the summer castle of King Matyas. The 2000 Ft – On the front is Prince Gabor Bethlen on the front, and Prince Gabor Bethlen amongst his scientist on the back. Gabor Bethlen was a prince of Transylvania and a leader of an anti-Habsburg insurrection in the Habsburg Royal Hungary. The 5000 Ft – On the front is Count Szechenyi Istvan, a Hungarian politician, theorist and writer and revered as one of the greatest diplomats in Hungarian History. On the back is the Szechenyi mansion in Nagycenk. The 10000Ft – On the front is St Stephen, the first Christian king of Hungary. He established Christianity in the region and is considered to be the founder of the Hungarian nation. On the back is the view of Esztergom, hometown to king Stephen and home to the largest Basilica of Hungary. The 20000Ft – On the front is Ferenc Deák, a Hungarian statesman and Minister of Justice. He was known as “the wise man of the nation”.

On the back is the old house of representatives in Pest. Exchanging Currency Exchanging money in Hungary is easy, especially with ATM machines in every built-up area in Budapest. There are also currency exchange kiosks located in tourist areas and shopping malls which are highly recommended for ensuring you get the best exchange rates. Banks also offer currency exchange services but they charge a surcharge. Northline tends to consistently offer the best exchange rates for Hungarian money in Budapest, with several locations to choose from. Their website, although is only in Hungarian has got a useful and easy to use currency converter on the left side of homepage. There are other exchange offices such as Exclusive, Interchange and OTP Bank (National Savings Bank)all offer currency exchange services throughout the city too, and the best idea is to check their rates in their branches because most don’t put their rates online. Ideally, most credit cards, like Visa, Master Card and American Express are accepted in most places, especially at hotels, shops and restaurants, which makes spending and traveling far easier if you can’t find a currency exchange store. Whatever you decide to do, you’re sure to enjoy the culture in Budapest on every level, with the Hungarian money providing you with a historical connection to this great city.

Tipping in Hungary Tipping is a very common practice in Hungary and not only you tip waiters but also hairdressers, taxi drivers and assistants at petrol stations. At some restaurants the service fee is included in the bill, and it usually ranges between 10% and 15%. It is advisable to always check the bill before you pay, though. Although, most restaurants do not include the service fee or tip in the bill, 10% of the total amount is normally expected by waiters. But in all cases it is up to the customer’s satisfaction to leave some tip. Keep in mind that in Hungary you don’t really leave the tip on the table. Instead when you pay the bill, tell the waiter how much money you are paying in total (in case you want to leave some tip) or how much change you would like to get back. Even if you are paying with credit card you are expected to leave some tip, just tell the waiter when he brings the card reader how much money you are paying in total. Hungary Money, Information about Money in Hungary 152.647 SOURCE: CIA World Factbook 2001 [ONLINE].

fetched a much higher conversion rate than the official government rate, and such activities were difficult for the government to control. The National Bank, therefore, sets and publishes a daily rate of exchange between the forint and the world's major currencies. This rate is determined by a combination of the market value of other currencies, the inflation rate of the forint, and decisions by the National Bank to change the value of the forint. As in most economies emerging from communism, inflation in Hungary has been high relative to western economies. Despite concerted efforts by the government to bring inflation into single digits, inflation in 2000 was 10.1 percent. Hungary's inflation during the post-communist transition period, however, has remained much lower than in many other Eastern European countries where rates often rose into the triple digits. The country's central bank is the National Bank of Hungary, which issues currency and maintains checking and savings accounts. Other financial institutions include the Foreign Trade Bank, which serves businesses trading outside of Hungary, and the State Development Institution, which finances large-scale investment projects. The Budapest Stock Exchange opened in 1990 and is today the most heavily capitalized exchange in the East European region.

Also read article about Hungary from Wikipedia User Contributions: HUF - Hungarian Forint rates, news, and tools HUF - Hungarian Forint Hungary, Forint The Hungarian Forint is the currency of Hungary. Our currency rankings show that the most popular Hungary Forint exchange rate is the HUF to EUR rate . The currency code for Forint is HUF, and the currency symbol is Ft. Below, you'll find Hungarian Forint rates and a currency converter. You can also subscribe to our currency newsletters with daily rates and analysis, read the XE Currency Blog , or take HUF rates on the go with our XE Currency Apps and website. Calculator for Hungarian Forints (HUF) Currency Exchange Rate Conversion Hungarian Forint (HUF) Currency Exchange Rate Conversion Calculator This currency convertor is up to date with exchange rates from January 18, 2017. Enter the amount to be converted in the box to the left of the currency and press the "convert" button. To show Hungarian Forints and just one other currency click on any other currency. The Hungarian Forint is the currency in Hungary (HU, HUN). The symbol for HUF can be written Ft.

The exchange rate for the Hungarian Forint was last updated on January 17, 2017 from The International Monetary Fund. The HUF conversion factor has 6 significant digits. HUF | Hungarian Forint | OANDA Hungarian Forint Overview The Forint is the official currency of Hungary, and is issued by the Hungarian National Bank. The modern Forint was introduced in 1946, after the second world war. The Forint was subdivided into 100 fillér, but fillér coins are no longer in circulation. The long-term goal of the Hungarian government is to replace the Forint with the Euro , although this transition has been delayed due to current economic issues. If you are traveling to Hungary, check for currency import and export restrictions. Permission is required from the National Bank for converting large amounts of Forint to or from foreign currencies. Economy Hungary has made a successful shift to a market economy after the first multi-party elections were held in 1990. Before the fall of the Communist regime in 1989, its economy was centrally planned.

Since 1990, foreign ownership and foreign investment have become commonplace, and Hungary receives about a third of the foreign investment flowing into the Central European area. Production in Hungary has shifted from lower-value textiles and food products to higher-value sectors such as luxury vehicle production, renewable energy, tourism, and information technology. Over 60% of Hungary’s exports are related to machinery and equipment. In recent years, Hungary has required financial assistance from world bodies such as the IMF and World Bank to service its large public debt. As one consequence, Hungary has delayed adopting the euro until 2020. History The name Forint has its origin in coins minted in Florence in 1252, called Fiorino d’oro. Forint banknotes and fillér coins were introduced and circulated in August 1946, as a crucial step in the stabilization of the country after World War II. Inflation (especially during the late 1980s) made fillér coins irrelevant, and they were removed from circulation in 1996. Coins continue to be minted in Forint denominations.

The Forint became fully convertible in 2001 after the high inflation of the 1990s when Hungary transitioned to a market economy. Symbols and Names Fillér = 1/100 of a Forint Denominations Bills: 500, 1,000, 2,000, 5,000, 10,000, 20,000 forint Coins: 5, 10, 20, 50, 100, 200 forint Countries Using This Currency SITE MAP © 1996 - 2017 OANDA Corporation. All rights reserved. "OANDA", "fxTrade" and OANDA's "fx" family of trademarks are owned by OANDA Corporation. All other trademarks appearing on this Website are the property of their respective owners. Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances. You may lose more than you invest.

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First Type I Financial Instruments Business Director of the Kanto Local Financial Bureau (Kin-sho) No. 2137 Institute Financial Futures Association subscriber number 1571. Trading FX and/or CFDs on margin is high risk and not suitable for everyone. Losses can exceed investment.

Question: What is the money currency of the country of Hungary ?
Answer: FORINT