Hungary has been a full member of the European Union since 2004. But, despite this, the national currency is still the forint. According to forecasts, Hungary will become one of the last countries to switch to the common European currency - this will happen in the next two years.
Official data
The currency of Hungary in the international currency market is denoted by HUF, and domestically on all price tags is written as FL. Officially, one forint is equal to one hundred fillers, but in practice fillers have long gone out of circulation due to high inflation. The smallest bargaining chip that can now be found is 1 forint. And the largest bill is 20,000 forints.
History
The current currency of Hungary takes its name from the Italian city of Florence, where gold florins were minted. In the mid-19th century, the forint was the currency of Austria-Hungary. And only after the end of World War II, the forints became the official currency, replacing the penge, which disappeared due to hyperinflation.
In the 70-80 years of the 20th century, the currency of Hungary gradually depreciated due to the weakness of the socialist economy. After democratic changes took place in the country in 1989-90, inflation reached 35% per annum - it was during this period that fillers disappeared from circulation. But the economic situation in the country was gradually improving, and the forint significantly strengthened its position in the world market. The opposite problem arose: the high cost and stability of the forint significantly restrained the country's export development.
At the beginning of the new millennium, a law was passed according to which the currency of Hungary can only be traded between 240.01 - 324.71 forints for one euro.
Appearance
Forints have a high degree of protection against fakes - they have protective threads, watermarks, holographic stripes on them. If you look at the gap, then forints will necessarily appear the abbreviation of the national bank or the coat of arms of the country. The currency of Hungary is made in two primary colors - light green and light purple. The images on the banknotes are quite traditional - these are the famous Hungarian historical figures Lajosh Kossuth, Istvan Secheni, Istvan the Holy and others.
Exchange Rules and Recommendations
Currency in Hungary is exchanged at specialized official points. It is better to keep the exchange check so that there are no conflicts with local authorities. It is allowed to exchange at banks, travel agencies, post offices, hotels and exchange offices. Travel agents take 1% of the exchange commission, and in post offices the rate may be lower than the market.
It is better not to change large amounts, so that you do not have to make a reverse exchange later. This will be very difficult, since banks in Hungary will be able to convert no more than 100 US dollars and take 7% of the commission, plus you will need to present a receipt on the initial exchange and your passport. If you want to buy more than 20,000 forints, you will still have to present your passport. The solution in this case is the active use of credit cards and traveller's checks. There are no problems with this in Hungary.
Hungarian banks are open until 15:00, on Saturday and Sunday they are closed. But this is not critical, since the exchange can be done through ATMs or numerous exchange points.
You can import and export any amount in foreign currency into the country. But there are limitations to the export of forints: no more than 10,000 in total, and only in denominations of 1,000 forints.
VAT refund
If you buy goods in specialized duty-free shops, you can count on a VAT refund from 12% to 25%. To do this, when leaving the country, the customs services will need to show the goods in the original packaging so that they put the appropriate stamp on the original invoice and issue a VAT refund form. VAT refunds are made within 90 days.
Course
Currently, for 10,000 Hungarian forints you will pay about 44 US dollars, 36 euros or 1400 Russian rubles.