The Hungarian currency is called the forint. This time we will talk about him. If you are interested in what currency to take to Hungary, what is the exchange rate of the forint against the euro and dollar, and where is the best place to exchange money, read to the end of this page. First-time visitors to Budapest may think that Hungary's currency is the euro, as the country is a member of the European Union and a member of the Schengen Agreement. From now on you will know that Hungarians have their own national currency - the forint.
First, about one remarkable fact. Those countries that have retained their national currency compare favorably with neighboring countries that have adopted the euro. This is felt, first of all, in prices. To see this, look at the article Grocery prices in Budapest.
A brief history of the Hungarian forint
The Hungarian currency is directly linked to Italy, namely Florence. In XIII century, it was here that they began to mint a gold coin - the florin. It was also used in other countries, including Austria. But the Hungarians called it forint and at the same time guilder. In 1892 it was replaced by the Austro-Hungarian crown.
Krona has only been around for 30 years. In 1926 he was replaced by Pengeti, but he did not last long. Inflation swept the country, and in 1946 the penge was worth $59 billion against the dollar. They tried everything: they released milpenge - a million pence, bilpenge - a trillion pence. They also wanted to issue a bill worth one billion billpence, but were unable to do so. The new government stopped hyperinflation and brought back the forint. 1 forint was divided into 100 fillers. Since the 90s, fillers and coins in denominations of 1 and 2 forints have been withdrawn from circulation.
Hungarian forint in modern times
Currently there are coins in denominations of 5, 10, 20, 50, 100 and 200 Hungarian forints. The last two are bimetallic, that is, they contain two types of metal.
The 5 forint coin features a great egret, the 10 and 100 forint coins feature the coat of arms of Hungary, the 50 forint coin features a shewarden, and the 200 forint coin features the Hungarian coat of arms. The coin depicts Széchens Chain Bridge in Budapest.
Hungarian banknotes
Hungary has six banknotes - 500, 1000, 2000, 5000, 10000 and 20000 forints.
The front side of the 500 forint banknote depicts the great Transylvanian Ferenc II Rakoczi, who led the national liberation struggle of the Hungarian people.
1000 forints: on the obverse - King Matthias Iwho successfully ruled Hungary in the second half of the XV century.
2000 forints: on the obverse - Prince Gabor Batlen, head of the anti-Austrian movement in Hungary.
5000 forints: on the obverse - Count István Széchenyi, one of the most beloved historical figures of Hungarians.
10,000 forints: on the obverse - King Stephen I, saint, first king of Hungary.
20,000 forints: on the front side is the Hungarian politician Ferenc Deák, with whose active participation the Austro-Hungarian Treaty on the creation of Austria-Hungary was signed.
Attention!!! Attention!!! Please note that new banknotes have appeared in circulation. The old one will not be accepted anywhere; it will only be exchanged in some Hungarian banks. So if you buy forints in Georgia, ask for new bills. As for old banknotes, the terms for their exchange in Hungary are as follows:
500, 1000, 2000, 5000, 20000 Hungarian forints: at the National Bank of Hungary - until July 31, 2037;
Address of the National Bank of Hungary: 1054 Budapest, Kiss Erno u.1. Official website: www.mnb.hu.
Where to exchange money in Budapest
You can transfer a certain amount in forints in your country. In Georgia, this service is offered by the Bank of Georgia, which is located on Freedom Square. Be careful not to give out Hungarian banknotes that have been withdrawn from circulation, ask for a receipt and keep it.
In Budapest you will most likely take euros and dollars. We advise you not to exchange at the airport, as the exchange rate there will be very unfavorable for you, 20-25% less than usual. But if you have a credit card, use that card to buy your ticket. Exchange money in the city center, compare the rates of two or three exchange offices in advance. If you are in the mood, do it at Correctchange network points, the addresses of which you can find on their official website Correctchange.com.
Please note that most currency exchange offices charge a commission. It's usually 0.3%, but be careful as it can vary depending on the amount of coverage in some cases.
Remember that most currency exchange offices are closed on Sundays, and those that are open offer very unfavorable exchange rates. So be prepared: if you have a credit card, it will save you.
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