Magyar forint (Hungarian) | |
---|---|
![]() Hungarian forint banknotes | |
ISO 4217 | |
Code | HUF (numeric: 348) |
Subunit | 0.01 |
Unit | |
Plural | forintok (nominative only) |
Symbol | Ft |
Denominations | |
Subunit | |
1⁄100 | fillér (defunct) |
Banknotes | 500 Ft, 1,000 Ft, 2,000 Ft, 5,000 Ft, 10,000 Ft, 20,000 Ft |
Coins | |
Freq. used | 5 Ft, 10 Ft, 20 Ft, 50 Ft, 100 Ft, 200 Ft |
Demographics | |
Date of introduction | 1 August 1946 |
Replaced | Hungarian adópengő |
User(s) | ![]() |
Issuance | |
Central bank | Hungarian National Bank |
Website | www |
Printer | Hungarian Banknote Printing Company |
Website | www |
Mint | Hungarian Mint Ltd. |
Website | www |
Valuation | |
Inflation | 3.8% (January 2024) |
Source | www |
Method | CPI |
The forint (sign Ft; code HUF) is the currency of Hungary. It was formerly divided into 100 fillér, but fillér coins are no longer in circulation. The introduction of the forint on 1 August 1946 was a crucial step in the post-World War II stabilisation of the Hungarian economy, and the currency remained relatively stable until the 1980s. Transition to a market economy in the early 1990s adversely affected the value of the forint; inflation peaked at 35% in 1991. Between 2001 and 2022, inflation was in single digits, and the forint has been declared fully convertible.[1] In May 2022, inflation reached 10.7% amid the Russian invasion of Ukraine and economic uncertainty.[2] As a member of the European Union, the long-term aim of the Hungarian government may be to replace the forint with the euro, although under the current government there is no target date for adopting the euro.[3]