Forints

Forints
Country:	Hungary
Subdivision:	100 filler
ISO 4217 code :	HOOF
Shortcut:	Ft
Exchange rate : (July 30, 2021)	1  EUR  = 357.2 HUF 100 HUF = 0.28 EUR 1  CHF  = 331.63 HUF 100 HUF = 0.302 CHF

Exchange rate of the euro to the forint since 1999

The Hungarian forint is the currency of Hungary . A forint is formally in 100 Fillér or Filler (abbreviation f , German: " Heller ") divided, this unit has, however, no longer relevant since the late 1990s. After the end of World War II , the forint was reintroduced in 1946 and remained stable until the mid-1980s. After the collapse of the socialist regime in 1991, the change from a central administration economy to a free market economy led to inflation. The value of the forint fell drastically and in 1991 the inflation rate was 32.2%, in 2009 it was only 5.6%. The EU member Hungary will replace the forint with the euro due to the obligations in the EU treaties , but Hungary must first comply with Exchange Rate Mechanism II .

story

The forint got its name from the florin , a gold coin named after the city of Florence , which spread throughout Europe in the 13th century. Other currencies such as the guilder were also derived from the florin. In Hungary, the forint was only introduced in 1325 by King Karl Robert von Anjou (Hungarian Károly Róbert ). In the 14th and 15th centuries, Hungary was the largest gold producer in Europe. The forint was one of the strongest currencies in the region until the 17th century. The Fillér takes its name from the Heller .

Forints of 1342

The Ottomans ruled Hungary in the 16th and 17th centuries. When power gradually waned after 150 years, the reign of the Habsburgs began . But even that did not lead to pacification of the people, so that there were several uprisings. Above all, the rich aristocratic Rákóczi family was actively involved. Ferenc II. Rákóczi went down in history as the leader of the rebellion as a Hungarian national hero. It still adorns the 500 forint note today. Rákóczi created a new currency during the wars of freedom by having the Habsburg coins (1.10 and 20 Poltur) struck with his seal. This process is also called counter-marking.

Forint from 1891

In Austria-Hungary , the forint was minted for the Hungarian part of the empire from 1868, before it was replaced by the Austro-Hungarian crown (corona) with the currency reform of 1892 . After the disintegration of the Danube Monarchy, the Hungarian crown was introduced, which in turn was replaced by the pengő ("ringing coin") in 1927 as a reaction to the inflation that lasted from 1921 to 1924 . As early as 1931, the gold pengő was valued at 130 trillion paper pengő. On June 3, 1946, notes to the value of 100 trillion pengő were put into circulation and withdrawn on July 11, 1946. Shortly thereafter, the Adopengő (German tax pengő ) was introduced. The course between Pengö and Steuerpengö changed constantly. The pengő suffered such a high devaluation that it entered the Guinness Book of Records as the world record for inflation .

After this hyperinflation and the associated monetary chaos, the forint has been the official currency of Hungary again since August 1, 1946. One forint was fixed as 4 · 10 ²⁹ (400 quadrillion , written out 400,000,000,000,000,000,000,000,000,000) pengő or 200 million tax pengő.

The communist leadership, which ruled from 1948, left no room for an upswing in the forint in the course of the planned economy . Despite various measures, including the control of oil prices at the border as well as the promise of stable domestic prices, prices began and the costs in Hungary foreign exchange - bonds to rise. The denominations of the banknotes established in 1946 were no longer sufficient, which led to the fact that the first 500 forint note was printed in 1970. The 1000 forint note followed in 1983 and the 5000 forint note in 1991.

The change in the political system in 1989 gave the forint the first chance to develop under market conditions. This proved to be a difficult process. The quick release of the remaining regulated prices resulted in inflation of 33.35 percent in 1990 and 32.22 percent in 1991. Due to the relative economic independence of Hungary, the country had the lowest inflation rate in comparison with the other former socialist countries. Hungarians had very little confidence in the forint, so most people kept their savings in foreign currency , preferably D-Mark or US-Dollar . It wasn't until the mid-1990s that this trend began to reverse, and in 2001 the forint was declared fully convertible .

Output forms

Coins

In 1946 the coins were initially minted to the denominations of 2, 10 and 20 fillér and 1, 2 and 5 forints. In 1947 5 forints followed, as well as 5 and 50 filler in 1948. The fillér initially consisted of copper compounds and the forint of aluminum . Real silver coins were also minted until 1947 because of the gold standard .

Old coins (series from 1949)

The following table shows a detailed overview of the individual coins.

Face value	Motif front	Motif back	description	metal	Weight	diameter	edge	Issue date
2 filler			Lettering People's Republic of Hungary , year of issue	aluminum	0.65 g	18 mm	smooth	March 27, 1950
5 filler			Lettering People's Republic of Hungary, year of issue, woman's head	aluminum	0.6 g	17 mm	smooth	March 31, 1953
10 filler			Lettering People's Republic of Hungary, year of issue, dove with olive branch	aluminum	0.85 g	19.1 mm	corrugated	December 15, 1950
20 filler			Lettering People's Republic of Hungary, year of issue, ears of wheat	aluminum	1.25 g	21 mm	smooth	March 31, 1953
50 filler			Lettering People's Republic of Hungary, year of issue, man sitting on anvil with hammer	aluminum	1.4 g	22 mm	smooth	March 31, 1953
1 forint			Lettering People's Republic of Hungary, year of issue, Mátyás Rákosis coat of arms	aluminum	1.5 g	23.7 mm	corrugated	November 15, 1949
2 forints			Lettering People's Republic of Hungary, year of issue, Rákosis coat of arms	Cupronickel	5 g	25 mm	with ornaments	January 20, 1950
5 forints			Lettering People's Republic of Hungary, value number, year of issue, János Kádár's coat of arms, Lajos Kossuth	Copper - Nickel - Zinc	7.4 g	27.5 mm	corrugated	June 30, 1972
10 forints			Lettering People's Republic of Hungary, year of issue, value number, Statue of Liberty (Budapest)	nickel	8.83 g	28 mm	with ornaments	June 1, 1971
20 forints			Lettering People's Republic of Hungary, year of issue, value number, György Dózsa , János Kádár's coat of arms	Cupronickel	7.06 g	26.8 mm	corrugated	April 18, 1983

Over the years, new coins were minted again and again, but their appearance did not differ significantly from those in the table above. Magnesium has been added as a material to aluminum coins over the years. The 10 forint coin also appeared in 1983 as a copper - aluminum - nickel compound. The color of the coin changed from silver to gold .

Current coins (series from 1990)

Since June 15, 2009, coins of 5, 10, 20, 50, 100 and 200 forints have been in circulation. The Fillér coins were withdrawn in 1999. From March 1, 2008, the one- and two-forint pieces were also confiscated because of the low level of use on the part of consumers and the lack of independent purchasing power . For cash payments in retail, the invoice amount is currently rounded up or down to the next number divisible by 5. It was possible to exchange these coins at the Hungarian central bank Magyar Nemzeti Bank until March 1, 2012 . On June 15, 2009, the new 200 forint coin was put into circulation, replacing the corresponding banknote.

The following table shows a detailed overview of the current coins:

Face value	motive	draft	metal	Weight	diameter	edge
5 forints	Great Egret	István Kosa, István Bartos	Copper - Nickel - Zinc	4.2 g	21.2 mm	smooth
10 forints	Coat of arms of the Republic of Hungary	István Kosa, István Bartos	Cupronickel	6.1 g	24.8 mm	interrupted corrugated (10 × 70 corrugation)
20 forints	Hungarian iris	István Kosa, István Bartos	Copper-nickel-zinc	6.9 g	26.3 mm	corrugated (130 corrugations)
50 forints	Saker falcon (sucker falcon)	István Kosa, István Bartos	Cupronickel	7.6 g	27.4 mm	smooth
100 forints	Coat of arms of the Republic of Hungary	István Kosa	Ring: steel with nickel coating. Core: steel with brass coating	8 g	23.8 mm	corrugated (170 corrugations)
200 forints	Budapest Chain Bridge	István Kosa	Ring: copper-nickel-zinc core: copper-nickel	9 g	28.2 mm	interrupted corrugated (9 x 8 corrugation)

Commemorative coins

UNICEF commemorative coin 1998

The first commemorative coin after the forint was introduced for the last time in 1946 was a series in 1948 for the turn of the 100th anniversary of the revolution and the war of freedom 1848–1849, designed by József Reményi . It shows a portrait of Sándor Petőfi, and the phrase “We swear, we swear” is engraved on the edge. The coin was issued in 5, 10 and 20 forint issues. The following table shows selected commemorative coins from 1948 to 2010:

Year of issue	Issue reason	Motif front	Motif back	draft	materials	Face value
1961	150th birthday of Ferenc Liszt	Value number, including a stylized five-string lyre and year	Portrait of Ferenc Liszt	Miklós Borsos	Silver 98.6% gold 98.6%	25,50,100,500 ft
1968	150th birthday of Ignác Semmelweis	Portrait of Ignác Semmelweis	Twice value number, a coat of arms in inscription, year number	József Reményi, Dezső Kovács	Gold 90% silver 64%	50, 100, 200, 500, 1000 ft
1970	25th anniversary of the liberation of Hungary	the Statue of Liberty in Budapest	inside decorations with a floral pattern, value number, including coat of arms and year	Dezso Kovács	Silver 64%	50, 100 ft
1974	50th anniversary of the establishment of the Hungarian National Bank	Value number, year, coat of arms on the left	Central building of the Hungarian National Bank	József Garány, Viktória Csúcs	Silver 64%	50, 100 ft
1980	Common room flight with the Soviet Union	Inscription around the coat of arms, including the year and value	Half-length portrait of the two space pilots, globe with a spaceship	Viktória Csúcs	nickel	100 ft
1985	natural reserve	Font and value number in a rectangular field	Otter, pond turtle or wild cat; Inscription: "When life is dear"	Zoltán Fülöp	Silver 64%; Copper-nickel-tin	100, 200 ft
1989	Summer Olympic Games in Barcelona	Ribbon row consisting of wavy lines, value and year	Writing, on the right an athlete lighting the Olympic flame with a torch	András Kis-Nagy	silver 90%	500 ft
1991	Visit of Pope John Paul II in Hungary	Value number, year, writing and the Hungarian coat of arms with crown	Virgin Mary, in her left hand a little Jesus holding the orb	Sándor Tóth	Gold 98.6%; Silver 90%	100, 500 and 10000 ft
1998	UNICEF, for the children of the world	official emblem of UNICEF	a waving girl, children's drawing, stylized key	László Szlávics	Silver 92.5%	2000 ft
2004	World Heritage Pécs	2004 in inscription, value, below the image of a bronze ornament with the monogram of Christ	Inscription, the so-called "Korsós" burial chamber decorated with a jug	László Szlávics	Silver 92.5%	5000 ft
2006	Hungarian engineers and inventors	around the year and value of the lettering "Hungarian Republic", part of the Ford T-model	Ford T-Model, inscription around the car	István Holló	Copper 75% and nickel 25%	1000 ft
2008	550th anniversary of King Matthias Hunyad's accession to the throne	inscribed with a raven with a ring in its beak, the coat of arms of the Hunyadi family, including the value and the year	Renaissance vaulted arch, half-length portrait of King Matthias, including writing, year	László Szlávics	Silver 98.6%	50,000 ft

World Heritage Pécs 2004

Commemorative coin King Hunyadi 2008

The Őrségi commemorative coin was last minted in 2010. This square silver coin shows the value and year on the obverse and the inscription "Republic of Hungary". The Őrségi-Nemzet-Park of the same name is shown on the back. The coin was issued to the value of 5000 forints.

Banknotes

There are banknotes of 500, 1000, 2000, 5000, 10,000 and 20,000 forints. Famous personalities of Hungarian history are depicted on them on the one hand and associated castles, cities and works of art on the other.

10 forint note from 1946

The 200 forint notes are no longer a valid means of payment since November 16, 2009, but will be exchanged by Magyar Nemzeti Bank and other banks until November 16, 2029.

In 1946, the first 10 and 100 forint notes were introduced. Because of their poor quality, caused by offset printing , the notes had to be withdrawn as early as 1947 and replaced by notes of better quality. In 1947, notes worth 10, 20 and 100 forints were printed.

Old banknotes (series from 1947)

Face value	Motif front	Motif back	Description front	Description on the back	Issue date
10 forints			Poet and folk hero Sándor Petőfi	Painting by the painter János Jankós	July 25, 1947
20 forints			György Dózsa, leader of the Hungarian peasant uprising	naked man with hammer and wheat ear	August 1, 1948
50 forints			Portrait of Ferenc II. Rákóczi , painted by Adam Manyoki	Unknown painter: fight scene between Kuruzen and Labanzen	June 13, 1953
100 forints			Freedom fighter and politician Lajos Kossuth	Károly Lotz : Escape from the thunderstorm	August 14, 1948
500 forints			Poet Endre Ady	View over Budapest	August 21, 1970
1000 forints			Composer Béla Bartók	Ferenc Medgyessy's sculpture "Mother with Child"	June 27, 1983
5000 forints			Portrait of state reformer István Széchenyi , painted by Friedrich von Amerling	Hungarian Academy of Sciences	March 25, 1991

Over the years, the various governments have repeatedly issued new editions of the notes. However, the appearance remained essentially the same. The most striking changes are the four different types of coats of arms used. In the early 1990s, the tricolor with a five-pointed star (3rd coat of arms) was replaced by a coat of arms with a crown and cross.

Old banknotes (series from 1997)

The size of all banknotes is identical. It is 154 × 70 mm. The 200 has now been replaced by a coin in circulation. Banknotes with OMRON circles have existed since 2008 . The design of the other notes has been redesigned since 2014: portraits and images remain, but new security features are added.

worth	Motif front	Motif back	Description front	Description on the back	Issue date
200 forints			King Charles I (Hungary)	Diósgyőr Castle	May 1, 1998 The banknote ceased to be in circulation on January 1, 2010.
500 forints			Portrait of Ferenc II. Rákóczi, painted by Adam Manyoki	Rákóczi Castle in Sárospatak	December 1, 1998 The banknote ceased to be in circulation on October 31, 2019.
500 forints			Portrait of Ferenc II. Rákóczi, painted by Adam Manyoki	Rákóczi Castle in Sárospatak	February 1, 2001 The banknote has ceased to be in circulation since October 31, 2019.
500 forints Hungarian uprising			Portrait of Ferenc II. Rákóczi, painted by Adam Manyoki	Parliament building in Budapest	October 20, 2006 The banknote ceased to be in circulation on October 31, 2019.
500 forints			Portrait of Ferenc II. Rákóczi, painted by Adam Manyoki , with OMRON circles	Rákóczi Castle in Sárospatak	April 15, 2009 The banknote ceased to be in circulation on October 31, 2019.
1000 forints			King Matthias Corvinus	Hercules fountain at the castle in Visegrád	September 1, 1998 The banknote has not been in circulation since August 31, 2007.
1000 forint millennium			King Matthias Corvinus	Hercules fountain at the castle in Visegrád	November 1, 2000 The banknote has not been in circulation since August 31, 2007.
1000 forints			King Matthias Corvinus	Hercules fountain at the castle in Visegrád	2002 The banknote has not been in circulation since August 31, 2007.
1000 forints			King Matthias Corvinus	Hercules fountain at the castle in Visegrád	April 10, 2006 The banknote ceased to be in circulation on October 31, 2018.
1000 forints			King Matthias Corvinus , with OMRON circles	Hercules fountain at the castle in Visegrád	April 15, 2009 The banknote has been out of circulation since October 31, 2018.
2000 forints			Prince Gábor Bethlen	Gabor Bethlen with his scientists, painted by Viktor Madarász	February 1, 1998 The banknote ceased to be in circulation on July 31, 2017.
2000 forints			Prince Gábor Bethlen , with OMRON circles	Gabor Bethlen with his scientists, painted by Viktor Madarász	April 15, 2009 The banknote has been out of circulation since July 31, 2017.
2000 Forint Millennium			The Holy Crown	The Baptism of Vajk ( Stephen I (Hungary) ) painted by Gyula Benczúr	August 20, 2000 Valid.
5000 forints			Portrait of state reformer István Széchenyi , painted by Friedrich von Amerling	Széchenyi Castle in Nagycenk	April 1, 1999 The banknote has not been in circulation since July 31, 2017.
5000 forints			Portrait of state reformer István Széchenyi , painted by Friedrich von Amerling , with OMRON circles	Széchenyi Castle in Nagycenk	April 15, 2009 The banknote has been out of circulation since July 31, 2017.
10,000 forints			King Stephan I (Hungary)	View over Esztergom , painted by Hubert Sattler	July 1, 1997 The banknote has ceased to be in circulation since December 31, 2019.
10,000 forints			King Stephan I (Hungary) , with OMRON circles	View over Esztergom , painted by Hubert Sattler	September 8, 2008 The banknote has been out of circulation since December 31, 2019.
20000 forints			Politician Ferenc Deák	old government building in Pest	February 1, 2001 The banknote has been out of circulation since December 31, 2017.
20000 forints			Politician Ferenc Deák , with OMRON circles	old government building in Pest	2009 The banknote has not been in circulation since December 31, 2017.

Current banknotes (series from 2014)

worth	Motif front	Motif back	Description front	Description on the back	Issue date
500 forints			Portrait of Ferenc II. Rákóczi, painted by Adam Manyoki	Rákóczi Castle in Sárospatak	1st February 2019
1000 forints			King Matthias Corvinus	Hercules fountain at the castle in Visegrád	March 1, 2018
2000 forints			Prince Gábor Bethlen	Gabor Bethlen with his scientists, painted by Viktor Madarász	March 1, 2017
5000 forints			Portrait of state reformer István Széchenyi , painted by Friedrich von Amerling	Széchenyi Castle in Nagycenk	March 1, 2017
10,000 forints			King Stephan I (Hungary)	View over Esztergom , painted by Hubert Sattler and King Stephan I.	2nd December 2014
20000 forints			Politician Ferenc Deák	old government building in Pest	December 14, 2015

Manufacture of coins and banknotes

Hungarian banknotes are processed by Pénzjegynyomda Zrt. (Hungarian Banknote Printing Company), an MNB company. The print shop has existed since the 1920s, and the first banknotes were also printed here. The special banknote paper required for printing forint banknotes is produced by Diosgyor Papermill. This paper mill is a wholly-owned subsidiary of the Hungarian Banknote Printing Company, a company steeped in tradition with over 200 years of history. The coins are also minted on behalf of the MNB by the Hungarian Mint (Magyar Pénzverő Zrt.), Also a company of the Central Bank. It has also existed since the 1920s. The circulation coins were completely replaced in 1993. In the 1990s, all three factories were completely renovated, and the new banknotes and coins are produced using the most modern materials and new technologies.

External value of the forint

The external value of the forint shows the historical exchange rates to the euro, US dollar, British pound and Japanese yen over time.

Exchange rate to the euro

Chart of the average annual exchange rates to the euro

year	1 EUR	year	1 EUR	year	1 EUR	year	1 EUR	year	1 EUR
2002	242.90	2005	248.02	2008	250.94	2011	278.55	2014	312.50
2003	253.36	2006	263.92	2009	279.80	2012	289.02	2015	305.89
2004	251.51	2007	251.32	2010	275.33	2013	296.82	2016	311.43

In the multi-year trend, the forint has continuously depreciated over the past 15 years.

Exchange rate to the US dollar

Graph of Average Annual Exchange Rates to the US Dollar

year	1 USD	year	1 USD	year	1 USD	year	1 USD	year	1 USD
1995	133.89	1998	214.36	2001	286.22	2004	203.33	2007	183.27
1996	149.39	1999	237.18	2002	257.37	2005	199.21	2008	214.36
1997	186.80	2000	282.64	2003	223.77	2006	210.06	2009	201.62

The table shows that the exchange rates rose sharply between 1995 and 2001. In April 2001, one dollar was worth 298.96 forints. From May 2001 the US dollar lost value again in contrast to the forint. In July 2008, one US dollar only cost 146.58 forints.

Exchange rate to the British pound

Chart of Average Annual Exchange Rates to the British Pound

year	1 GBP	year	1 GBP	year	1 GBP	year	1 GBP	year	1 GBP
1995	208.13	1998	355.17	2001	412.25	2004	370.48	2007	366.54
1996	233.52	1999	383.45	2002	385.91	2005	362.05	2008	315.99
1997	306.04	2000	427.38	2003	365.61	2006	386.72	2009	314.05

The exchange rate of the British pound also rose sharply in the course of 2001. The maximum value here is also in April 2001 at 429.06. Prices have been falling steadily since May 2001. The 400 forint limit has not been passed since then. In October 2009 one pound was worth 292.58 forints.

Exchange rate to the Japanese yen

Average Annual Japanese Yen Exchange Rate Chart

year	1 yen	year	1 yen	year	1 yen	year	1 yen	year	1 yen
1995	1.31	1998	1.64	2001	2.36	2004	1.87	2007	1.56
1996	1.37	1999	2.09	2002	2.05	2005	1.81	2008	1.67
1997	1.54	2000	2.62	2003	1.93	2006	1.81	2009	2.15

The forint peaked at 2.62 in January 2000. By July 2008, the exchange rate dropped again to such an extent that one yen could only cost 1.37 forints. The rate has been recovering since 2009 and reached a high of 2.52 forints per yen in February 2009.

Euro and ERM II

Portions of this article appear since 2011 is out of date to be .
Please help to research and insert the missing information .

Hungary is currently not a member of the "Euro waiting area" ERM II . By joining the European Union , Hungary made a commitment to adopt the euro . However, Hungary is seen as a problem child when it comes to the introduction of the euro, as inflation and national debt are well above the EU convergence criteria . The budget deficit in 2006 was over nine percent of the gross domestic product, Hungary was the largest deficit offender within the EU. With regard to new borrowing, however, the country can report the first successes of its strict savings plan. In 2009, new debt was reduced to 5.7 percent. For 2010, the government announced the target of a maximum of 4 percent of GDP ; 4.2 percent was actually achieved. The National Bank released the forint exchange rate, thereby exposing the previously applicable fluctuation range of a maximum of 15 percent to the euro. This was used as an instrument to curb the high inflation rate of nearly 8 percent. In September 2011, inflation was 3.7 percent compared to September 2010.

Forint, IMF and financial crisis

Hungary has been a member of the International Monetary Fund since May 6, 1982. By November 5, 2008, Hungary had received around 2.567 billion Special Drawing Right , or SDR for short, from the IMF in the form of stand-by loans and extended fund facilities . The Hungarian government also made use of approx. 1.381 billion SDRs. The full amount was paid back in the given time.

In the wake of the economic and financial crisis, which hit Hungary particularly hard, the IMF saved the country from bankruptcy with a stand-by loan of around SDR 10.537 billion. The European Central Bank and the EU also helped Hungary with billions. Hungary also took advantage of SDR 7.637 billion from the IMF loan granted on November 6, 2008. The loan expired on October 5, 2010. Hungary had agreed with the IMF on the following payments to the fund .

Year of issue	Amount in million SDR
2010	139.97
2011	187.70
2012	3385.60
2013	3878.27
2014	603.27

Web links

Commons : Forint  - album with pictures, videos and audio files

Wiktionary: Forint  - explanations of meanings, word origins, synonyms, translations

• Magyar Nemzeti Bank - Hungarian National Bank
• Illustrations of the different coins
• Illustrations of the different bills
• Hungarian coin catalog with illustrations
• History of the forint
• historical exchange rates
• Hungary inflation rates
• Historical and current banknotes from Hungary

Individual evidence

1. ↑ ^{a b c d} Hungarian inflation rates (accessed May 16, 2010)
2. ↑ ^{a b} The History of Hungary (accessed May 7, 2010)
3. ↑ Commemorative coins (accessed May 12, 2010)
4. ↑ commemorative coin 2010 (accessed May 12, 2010)
5. ↑ Production of coins and banknotes ( Memento of the original from June 9, 2010 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (accessed May 5, 2010) 
6. ↑ ^{a b c d} Exchange rates
7. ^ Hungarian Statistical Office , PDF, accessed on November 8, 2011.
8. ↑ euro-anwaerter.de (accessed May 12, 2010)
9. ↑ Harmonized consumer index figures from global-rates.com , accessed on November 8, 2011.
10. ↑ ^{a b} Previous Loans (accessed May 12, 2010)
11. ↑ Credit IMF (accessed May 12, 2010)
12. ↑ IMF (accessed May 12, 2010)
13. ↑ Loan repayment (accessed May 12, 2010)