All of the banknotes are watermarked, contain an embedded vertical security strip and are suitable for visually impaired people. The 1,000 forints and higher denominations are protected by an interwoven holographic security strip. The notes share the common size of 154 mm × 70 mm (6.1 in × 2.8 in).
- Several countries use the U.S. dollar as their official currency, and many others allow it to be used in a de facto capacity.
- Hungary still doesn’t use the euro, though, and hasn’t set a target date to make the switch because the federal government and the central bank are reluctant to adopt the common currency.
- Bills are printed by the Hungarian Banknote Printing Company while coins are minted by the Hungarian Mint.
- In fact, Hungary’s central bank governor Gyorgy Matolcsy described the euro as a ”trap” and a ”strategic error.”
Create a chart for any currency pair in the world to see their currency history. These currency charts use live mid-market rates, are easy to use, and are very reliable. These percentages show how much the exchange rate has fluctuated over the last 30 and 90-day periods. These are the lowest points candlestick chart excel the exchange rate has been at in the last 30 and 90-day periods. These are the highest points the exchange rate has been at in the last 30 and 90-day periods. The amount of money you’ll need to budget for a trip to Budapest or Hungary depends on how long you’re visiting for and your travel style.
What currency is used in Hungary?
Although the euro isn’t used in Hungary, some merchants accept it—notably large hotels and merchants. The exchange rate is generally lower than most exchange offices. We withdrew around €100 worth of Hungarian currency for our trip https://g-markets.net/ to Budapest. To our surprise, though, almost everywhere accepted card payments and we struggled to get through our cash! For the most part Budapest is very card-friendly, and you can use credit cards in most parts of Hungary.
These are the average exchange rates of these two currencies for the last 30 and 90 days. Most ATMs accept foreign bankcards and ATMs are very easy to find throughout Budapest, with most open 24 hours a day. There are some ATMs securely located behind glass doors and you might have to swipe your bankcard to open the door. The most common banks in Budapest include OTP, Erste, Raiffeisenbank, K&H and CIB Bank. Banks themselves are generally open from 8 or 9am until 4 or 5pm on weekdays. On weekends most banks are closed although the OTP at West End City Centre is open on Saturdays.
Currency in Hungary HUF – Things to know
Popular tourist attractions include the capital city of Budapest, Lake Balaton, the Danube River, and the caves of Aggtelek National Park. In most places in Hungary, expect to pay around 800 HUF (€2) for a beer at a bar. A main course at a budget restaurant will cost around 2700 HUF (€6.75).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News. The forint was replaced as Hungary’s currency but reintroduced following World War II after hyperinflation crippled the pengő used during and prior to the war. If you’ve just arrived in Budapest, you might be wondering just what kind of money is used here in Hungary. This list is pretty much everything you need to know about using the Hungarian currency. There’s some fun facts about who is on each note along with some of the anti-fraud measures in place. But there’s also some useful information about whether you can use Euros in Budapest, and accessing your funds at ATMs and banks.
Today, she stands as a leading authority on Beatles tourism in Liverpool, helping over 40,000 people a month to plan their dream trip to the city. I always download the XE Currency app, and it’s invaluable when travelling to Hungary! You can download the Hungarian currency calculator, and then you can simply enter the amount of forint or your own currency and it will convert the amount automatically.
If you’re in a touristy restaurant and bar they may let you pay in Euros, even if the prices are in forint, but you’ll likely get a bad exchange rate. You’ll always get the best deal by paying in the local currency. Since the introduction of the current-day Forint in 1946 some note and coin designs have come and gone. For example, the 200 Ft bank note was phased out and just the coin of that value remains. In 2022 after Russia’s invasion of Ukraine, the EUR-HUF exchange rate breached the 400 forints per 1 euro line for the first time, but rates at that level or higher lasted until the end of 2022. However, forged 20,000 forint notes printed on the paper of 2,000 forint notes after dissolving the original ink might come up and are not easy to recognize.
How to Convert HUF to USD
In terms of Hungary currency denominations, coins come in 5, 10, 20, 50, 100 and 200 HUF. Notes come in 500, 1,000, 2,000, 5,000, 10,000 and 20,000 HUF denominations. The forint is Hungary’s national and only official currency.
The forint – originally florentinus, taken from the Italian city of Florence – was used in Hungary as early as the fourteenth century. It is subdivided into 100 fillér, although due to the effects of inflation one fillér is now virtually worthless and the fillér coins are no longer in circulation. The Hungarian forint is divided into 100 fillér, although fillér coins have not been in circulation since 1999. The forint is expected to disappear in the future, however this will depend on the economic situation closer to the time.
Along with the euro, the currency’s top currency exchange is the U.S. dollar. The Central Bank of Hungary website has a cool feature where you can check out some of its anti-fraud measures. Click on the “security features” link under each banknote and then using the menu choose to see the various security features. The 200 Ft coin has a gold colour ring on the outside and is a silver colour on the inside.
This should not to be confused with the 100 Ft that has a gold coloured on the inside and a silver coloured ring on the outside. There’s no Cent or Eurocent version… whether it’s a note or coin it’s all just Forint. One Forint used to be made up of 100 “fillér” but fillér coins have not been in circulation since 1999 due to their low value. Obviously, exchange rates change frequently, so it’s best to check the current rates before your trip. You should especially compare your own bank’s exchange rates to those available from Money Transfer specialists to see how much you can save – we make that calculation easy in the below table.
Convert Hungarian Forint to US Dollar
Major trading partners include Germany, Slovakia, Italy, Romania, and Austria. Top industries include car and car parts manufacturing and producing components for radios and televisions. The Xe Rate Alerts will let you know when the rate you need is triggered on your selected currency pairs.
There was significant support to join the union at the time when the country applied 10 years earlier. Hungary still doesn’t use the euro, though, and hasn’t set a target date to make the switch because the federal government and the central bank are reluctant to adopt the common currency. In fact, Hungary’s central bank governor Gyorgy Matolcsy described the euro as a ”trap” and a ”strategic error.” You can send a variety of international currencies to multiple countries reliably, quickly, and safely, and at a rate cheaper than most banks. That way, I always get a good conversion rate, and with a travel card you won’t pay any conversion fees.
However, the country’s economy remains relatively underdeveloped compared to other EU member states, and its per capita GDP is only about two-thirds of the EU average. When the forint was introduced, its value was defined on the basis of 1 kilogram of gold being 13,210 forints. Therefore, given that gold was fixed at US$35 per Troy ounce, one USD was at that time worth 11.74 forints.