Hungarian forint HUF Exchange Rates

These coins were removed from circulation in 1999 due to high inflation. When it comes to cash in Hungary you’ll use coins and banknotes. 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.

HUF – Hungarian Forint

Beware of bad exchange rates.Banks and traditional providers often have extra costs, which they pass to you by marking up the exchange rate. Our smart tech means we’re more efficient – which means you get a great rate. Banks and traditional providers often have extra costs, which they pass to you by marking up the exchange rate.

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So, if you ever see the HUF currency abbreviation, you now know that means the Hungarian forint. According to World Bank data, Hungary reported gross domestic product (GDP) growth of 4.6% in and 14.6% inflation in 2022. This was primarily due to the economic fallout that resulted from the global COVID-19 pandemic. Hungary relies on a skilled labor force to drive its export-oriented economy. Major trading partners include Germany, Slovakia, Italy, Romania, and Austria.

1. Along with the euro, the currency’s top currency exchange is the U.S. dollar.
2. Our currency rankings show that the most popular US Dollar exchange rate is the USD to USD rate.
3. In 1946, coins were introduced in denominations of 2, 10, 20 fillérs and 1, 2, 5 forints.
4. The term Hungarian forint (HUF) refers to the official and national currency of Hungary.
5. Notes come in 500, 1,000, 2,000, 5,000, 10,000 and 20,000 HUF denominations.

Convert US Dollar to Hungarian Forint

There was significant support to join the union at the time when the country applied 10 years earlier. The nation’s central bank governor Gyorgy Matolcsy described the euro as a https://www.1investing.in/ «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.

For the most part Budapest is very card-friendly, and you can use credit cards in most parts of Hungary. Compare our rate and fee with our competitors and see the difference for yourself. 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. Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone.

Wise gives you the real, mid-market, exchange rate, so you can make huge savings on your international money transfers. Although Hungary is part of the European Union, it is one of 1 bucks in dollar a handful of countries that continues to use its own currency rather than the euro. The forint, which is represented by the abbreviation HUF in the international currency market.

The banknotes are printed by the Hungarian Banknote Printing Corp. in Budapest on paper manufactured by the Diósgyőr Papermill in Miskolc. The U.S. dollar is the currency most used in international transactions. Several countries use the U.S. dollar as their official currency, and many others allow it to be used in a de facto capacity. The Hungarian Forint is the currency of Hungary. Our currency rankings show that the most popular Hungarian Forint exchange rate is the HUF to USD rate.

Although Hungary is part of the European Union, it is not part of the euro area. This means it doesn’t use the euro as its currency. Hungary is reluctant to adopt the euro and has no target date to do so. The forint is denoted in the foreign exchange market as Ft and is commonly referred to by its abbreviation HUF. It is not pegged to any currency and no currencies are pegged to it either.

Much like others such as Romania and the Czech Republic, this is expected to happen at some point. But it is not yet known when, with initial target dates including 2008 now long since passed. Public support for adopting the Euro has also fallen. To get a better idea of how much money to take to Budapest, check out my full guide to the cost of travel in Budapest. It shows you exactly how much you’ll need to spend on accommodation, food, drinks, transportation and activities for your trip. It’s a good idea to break into your larger cash notes as soon as possible.

Any decision on when Hungary is set to adopt the Euro will also have consequences for the EUR to HUF rate. Economic issues forced Hungary to accept a $25bn bail out from the International Monetary Fund (IMF), EU and World Bank in 2008, which is part of the reason this was delayed. While it had been thought that 2020 could see it happen, it is likely to be pushed back further. In most places in Hungary, expect to pay around 800 HUF (€2) for a beer at a bar.