2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
The Hungarian forint, or Forint, is the official currency of Hungary. In English, the currency is called the Hungarian Forint. The currency code according to the ISO 4217 standard has the form of the symbol HUF. In the same form, the currency is traded on the international market in tandem with the dollar, euro, pound and other world monetary units. For the first time banknotes were put into circulation on August 1, 1946. The reason for the innovations was the active inflation of the previous pengyo currency. In that historical period, the ratio of currencies was 1 to 4. Based on history, it is customary to equate 1 Hungarian forint to 100 fillers, despite the fact that since 1999 the filler has been withdrawn from circulation.
A trip to history
The name of the currency "Hungarian forint" is directly related to the city called Florence. It was in this corner of the earth that gold coins called fiorino doro, or golden florin, were minted back in the 13th century. Between 1857 and 1892 Forint in Hungary was called the Austro-Hungarian currency. The Germans called the monetary unit the Austrian guilder. In everyday life, such a name as the Austrian florin is used. Despite the traditions, the people got accustomed to the currency undername forint.
The role of currency in history
The Hungarian forint played a big role in the history of the state. The moment of its introduction into the country's financial system coincides with the seizure of state power by the communists. The monetary unit fulfilled a number of political goals. She replaced her predecessor with a rate of 1 forint - 100 million penge. For the first two decades, the currency had a stable exchange rate. The country's loss of competitiveness in the 1970s and 1980s led to a decline. There was a time when the currency was just lying on the street like garbage, no one needed it. Since this period, there has been a fall in the exchange rate of the monetary unit by at least 35 percent annually. Only the reforms that took place in 2008 changed the situation. Great importance in stabilizing the situation should be given to the global crisis of 2008 and the fall of the dollar. It was due to difficulties in the economy of most countries of the world that Hungary was able to stabilize the situation in itself.
Today, the Hungarian forint against the ruble and other currencies of the world, despite the disagreements between Europe and Hungary, has stopped at a stable rate. A colossal fall, like 7 years ago, is not observed. The situation has changed, the forint is gradually taking a strong position in the global economy.
| HUF | USD | EUR | GBR | |
| 1 HUF | ------- | 0, 0040 | 0, 0032 | 0, 0025 |
| 1 USD | 250, 2300 | ------- | 1, 8009 | 0, 6357 |
| 1EUR | 312, 5140 | 1, 2487 | ------- | 0, 7938 |
| 1 GBR | 393, 5672 | 1, 5731 | 1, 2597 | ------- |
What currency should I use to travel to Hungary?
Despite the fact that the Hungarian forint is cheaper than the ruble, holidays in Hungary cost a pretty penny. If we take the average rate, then 100 forints is equal to 24 rubles. A metro ride in the country costs 350 forints, so now let's calculate. In order to travel one way by metro, you will have to pay 100 rubles, and this will be a little expensive even for Moscow and St. Petersburg.
If you are planning a trip to Hungary, experienced tourists recommend not stocking up on euros. Despite the fact that the country is part of the European Union, in everyday life, the state currency is preferred. It is better to exchange euros and dollars for forints, due to the high exchange rate. At the same time, we pay attention to the fact that a trip to Hungary will cost no less than one of the most prestigious resorts in the world.
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