Categories
Culture and traditions

What is the currency of Hungary?

Contrary to what many people think, the official currency of Hungary is not the euro. This country maintains its own currency, of which we give you important information. In addition, we tell you how much it is worth compared to other important currencies in Europe and America.

Below you have an index with all the points that we are going to deal with in this article.

Hungarian Forint

The currency of use in Hungary is the Hungarian forint or forint. Its ISO code is HUF and its symbol ft. Before this, there were several currencies that were used in the country.

History

In the eleventh century the penza was established in Hungary, a gold coin of Byzantine origin. However, bartering of objects, animals and food was still normal at this time.

It is in 1325 when the gold coins called florentinus, because they were based on the currency of Florence. Carlos I was the architect of this measure, a fact that made him the first European king who put a monetary system based only on gold. Over time, the currency was renamed forint.

Between 1862 and 1892 it was also known as forint to the currency of the Austro-Hungarian Empire. This one was divided into 100 krajczár. Later, between 1927 and 1946, the currency of use was the pengö, which was divided into 100 fillier.

After World War II, there was a hyperinflation, so it was decided to change the currency at forint. At that time, a florinto amounted to 400,000 quadrillion pengö.

Current currency

Therefore, the currency in progress in Hungary since August 1, 1946 is the forint, translated into Spanish as florinto or florin. This is divided into 100 fillets or cents, although since 1996 they are no longer used.

The tickets we can find are 500, 1,000, 2,000, 5,000, 10,000 and 20,000 guilders. In each of them a Hungarian leader appears as the main image. In 2014, a new series was launched that was renewed until 2019. They are made of cotton and all have dimensions of 154 mm x 70 mm.

As for the coins, there are 5, 10, 20, 50 and 100 guilders. Since 1996, the one with 100 florins is bimetallic, just like the one with 200 florins since 2009. That same year, the models of 1 and 2 florins disappeared.

Since 2012, all currencies bear the inscription Magyarország, what does it mean Hungary. In the previous ones to this date it can be read Magyar Köztársaság, translated as Republic of Hungary.

Also, some years designs are launched commemorative to celebrate the anniversary of some special event. Therefore, there are commemorative coins of 10, 20, 50 and 100 guilders, and 500 and 2,000 bills.

Exchange rate

This is the value of the Hungarian forint compared to other prominent currencies from both Europe and America:

  • HUF 100.00 = 0.33 euros (EUR)
  • 100.00 HUF = 6.59 Mexican pesos (MXN)
  • 100.00 HUF = 1,076.41 Colombian pesos (COP)
  • HUF 100.00 = US $ 0.37 (USD)
  • 100.00 HUF = 242.48 Chilean pesos (CLP)
  • HUF 100.00 = 5.83 Argentine pesos (ARS)
  • HUF 100.00 = 1.20 Brazilian reals (BRL)
  • HUF 100.00 = £ 0.29 (GBP)
  • 100.00 HUF = 1.20 Peruvian soles (PEN)
  • 100.00 HUF = 2.69 Guatemalan quetzales (GTQ)

If you are going to travel to Hungary and want to change money, you will find exchange houses in the main cities, as well as in the airports. You can also buy florins at banks and some hotels, or get money from an ATM.

In addition, in many establishments they accept payment by card and even with euros. This last method is less recommended, since the change will be more unfavorable.

User Questions

What is the best option to change money in Budapest?

To get the best change, it is best to compare between several exchange houses. In hotels, airports and banks is usually worse.

When will the official currency of Hungary be changed to the euro?

In principle, the euro was to be established in Hungary in 2007. However, it was postponed to 2020, a date that has subsequently been postponed to several decades, so there is no official date.

This article has been shared 44 times.

Finally, we have selected the previous and next article of the block "World Coins"so you can continue reading:

Leave a Reply