Currency

What is the currency in Hungary?

Hungary – Currency converter

Hungary’s currency is Forint (HUF), which is worth about 0.003 Euros, or 0.004 Dollars. Still, as it is part of the European Union, it is always possible to pay with Euro, which is converted to 300 Forints. So, for 1 Euro, you can buy a loaf of bread, 2l milk, 10-20 dkg cold cuts, a can of beer, 2 cans of paté or some pickles. Yet, if you have 3-4 Euros, you can also buy a pack of cigarettes, 2-3 beers at a pub, a cheap burger at a buffet, almost a litre of fuel, or even a quick taxi ride. You cannot pay with Euro everywhere, but if you buy some Forints, you will have no problem during your stay.

You might think Forint has always been Hungary’s currency, but it is not so. Korona or crown was used while the country was part of the Austro-Hungarian Empire – and it was replaced by Hungarian korona after the end of the empire – and it was replaced by pengo in 1925 due to the high rate of inflation during 1920s. Until the Great Depression, pengo was the most stable currency of the region, but as Hungary’s debt increased, it had to be devalued. Before World War II, monetary discipline loosened and this led to the depreciation of pengo. After the war, the currency went though a hyperinflation, and only a new currency could stabilize the Hungarian economy. So, forint was introduced in 1946 at the rate of 4 × 1029 pengo, so 29 zeroes could be dropped from the end of the currency.

Now it looks like it will be replaced by Euro sooner or later, but not in the near future for sure. So, if you visit Hungary, be prepared with its currency, the forint. If you have about 50 000 extra, then you can enjoy water parks, spas and other places and activities that you can not even imagine.

Currency
3.5 (70.67%) 15 votes