The forint (sign: Ft; code: HUF) is the currency of Hungary. It is divided into 100 fillér, although fillér coins are no longer in circulation. The introduction of the forint in 1 August 1946 was a crucial step of the post-WWII stabilization of the Hungarian economy, and the currency remained relatively stable until the 1980s. The forint is the only currency introduced by a socialist European state that is still in circulation.Transition to market economy in the early 1990s deteriorated the value of the forint, inflation peaked at 35% in 1991. Since 2001, inflation is single digit and the forint was declared fully convertible. Although as a member of the European Union, Hungary is obliged to replace its currency with the euro, it is very far from fulfilling the Maastricht criteria of eurozone entry.
The Hungarian central bank, Magyar Nemzeti Bank (MNB) has no official target date for the eurozone entry and it denies any target euro-rate. However, the forint rate is actively managed as much of Hungary's population and companies are indebted in euro and a depreciation would have dramatic effects. MNB regularly publishes the Report on Convergence about Hungary's convergence to the Economic and Monetary Union of the EU. Except for the linked report, all of this is in Hungarian and will be reviewed on visegrad-investments.com in English with data highlights.
You can find a daily currency converter in the right-hand side, which is set to EUR/PLN, the major V4 exchange, but you can change it to any currency. You can download the current and historical forint exchange and interest rates on the MNB website. Wikinvest provides you with a live update of the HUF/USD data series.
You can read more on HUF by clicking here or the HUF label on blog posts.
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