What is the Currency of Hungary?
Ah, Hungary! Land of goulash, thermal baths, and some of the most stunning architecture in Europe. But before you set off to explore Budapest's grand boulevards or the charming streets of Szeged, there’s one little thing you need to get your head around—money! Specifically, what is the currency of Hungary? We’re here to give you the lowdown on everything you need to know about Hungarian forint, from its history to where you can get your hands on it before you jet off.
Currency of Hungary
First things first, let’s answer the burning question: what is the currency of Hungary? The official currency of Hungary is the forint, symbolised by Ft and known in the world of currency codes as HUF. While it might not roll off the tongue quite like the euro or pound, the forint is an essential part of Hungary’s identity and economy. Despite Hungary being a proud member of the European Union since 2004, the country has held on to its forint, at least for the time being.
What Denominations Does the Hungarian Forint Come In?
When it comes to handling Hungarian forints, you’ll find them in both coins and banknotes, covering a range of denominations. Here’s a quick breakdown:
Banknotes
- 500 forints
- 1,000 forints
- 2,000 forints
- 5,000 forints
- 10,000 forints
- 20,000 forints
Coins
- 5 forints
- 10 forints
- 20 forints
- 50 forints
- 100 forints
- 200 forints
The banknotes are a bit of a rainbow—each one a different colour, featuring portraits of Hungarian historical figures on one side and landmarks or important national symbols on the other. The coins are similarly decorated, showcasing a range of designs from Hungary’s rich heritage.
Are Euros Accepted in Hungary?
If you’ve travelled around Europe, you might be wondering if you can simply use euros in Hungary. The short answer is, not really. While some touristy spots in Budapest might accept euros, this is far from the norm. Hungary has yet to set a target date for adopting the euro, so the forint remains the primary legal tender. It’s always a good idea to carry forints with you, especially if you’re venturing beyond the capital.
History of the Hungarian Forint
The forint has a rich history that dates back several centuries, with its roots intertwined in the rise and fall of empires and economies.
The currency first made its appearance in Hungary between 1868 and 1892. Back then, Hungary was part of the Austro-Hungarian Empire, and the forint was one of the empire’s official currencies. However, it was the introduction of the modern forint in 1946 that marked a significant turning point. After the Second World War, Hungary's economy was in shambles, with hyperinflation reaching unprecedented levels. To stabilise the situation, the government introduced the forint, named after the gold coins called “fiorino d'oro” that were widely used in Florence, Italy, and across the Austro-Hungarian Empire.
The forint played a crucial role in stabilising the Hungarian economy post-WWII, and it has been the country’s official currency ever since. It’s been through several changes and redesigns, reflecting Hungary’s evolving history and identity. You can dive deeper into the forint’s history here.
Old Coins and Notes
In its long history, the forint has seen several different designs and denominations come and go. Some of the old notes and coins are now collector’s items, featuring historical figures, events, and symbols that no longer appear on the current currency. The most notable change came in the early 2000s when Hungary began phasing out older denominations and introducing new ones with updated designs to combat counterfeiting and better reflect modern Hungary.
New Coins and Notes
Today’s forint notes are colourful, practical, and packed with security features. The latest series, introduced in 2014, includes holograms, watermarks, and other sophisticated elements. The coins, while less flashy, are just as integral to everyday transactions, with the 200-forint coin being the highest denomination currently in circulation.
Where to Get Hungarian Forint
Now that you’re well-versed in the history and denominations of the Hungarian forint, you’re probably wondering where to get your hands on some before your trip. Luckily, it’s easier than ever to sort your travel money with Travelex. You can buy your Hungarian forint online for home delivery or store Click & Collect, making it super convenient to prepare before you travel.
And for those who prefer to keep things digital, the Travelex Money Card is a fantastic alternative. Load it up with Hungarian forints (and up to 21 other currencies), and you’re good to go. Not only is it a safe and secure way to carry your travel money, but it’s also widely accepted across Hungary, making it a great companion for your trip.
