Hungarian Forint (HUF)
Ft · Official currency of Hungary
HUF at a glance
Every fact on this page is drawn from Magyar Nemzeti Bank or another primary source — see the 16 sources cited below.
| Currency | Hungarian Forint |
|---|---|
| ISO 4217 code | HUF · number 348 |
| Symbol | Ft |
| Minor unit | 1 HUF = 100 fillér |
| Used in | 1 country or territory |
| Pegged to | Not pegged |
| Central bank | Magyar Nemzeti Bank |
| Official rates | Magyar Nemzeti Bank → |
| Introduced | 1946 |
Where the Hungarian Forint is used
- Hungary
Exchange rate regime Free float
The forint's exchange rate has floated freely since 26 February 2008, with the euro serving as a reference currency and movements determined by supply and demand. The Magyar Nemzeti Bank targets inflation of 3 per cent with a ±1 percentage point tolerance band rather than any exchange rate level.
About the Hungarian Forint
The Hungarian Forint (HUF) is the official currency of Hungary, written with the symbol Ft after the amount and issued by the Magyar Nemzeti Bank, Hungary's central bank, in Budapest. The forint is formally divided into 100 fillér, but the last fillér coin was withdrawn in 1999, so the subdivision survives only as a unit of account and cash is settled in whole forints. The ISO 4217 code is HUF; the numeric code is 348.
The forint's exchange rate has floated freely against the euro as a reference currency since 26 February 2008, with movements determined by supply and demand. The Magyar Nemzeti Bank has operated an inflation-targeting framework since the summer of 2001; the medium-term target, set at 3 per cent in August 2005, has carried a tolerance band of ±1 percentage point since March 2015. Hungary joined the EU in 2004, but the forint is not in ERM II and Hungary has no target date to adopt the euro.
The forint currency system was introduced in Hungary on 1 August 1946, restoring a stable currency after the wartime collapse of the pengő, and 1 August 2026 marked the modern forint's 80th anniversary, commemorated by the Magyar Nemzeti Bank's Money Museum with the exhibition The Legacy of the Gold Train. The coinage has been reshaped repeatedly since 1946: fillér coins disappeared by 30 September 1999, and the 1 and 2 forint coins were withdrawn on 1 March 2008.
Foreign exchange turnover involving the forint averaged 40 billion US dollars per day in April 2025, according to the BIS Triennial Central Bank Survey 2025, making HUF the 26th most traded currency worldwide by turnover amount — just behind the Israeli new shekel and ahead of the Czech koruna. Among the currencies of the EU member states of central and eastern Europe, only the Polish złoty, at 76 billion US dollars per day, recorded higher turnover.
The banknote series has been modernised denomination by denomination since 2014: the renewed 10,000 forint note, showing King Stephen with a view of Esztergom on the reverse, entered circulation on 9 February 2014, and the renewed 500 forint note, showing Ferenc Rákóczi II with the castle in Sárospatak, followed on 4 July 2018. The 200 forint banknote was withdrawn in 2009 in favour of a bimetal coin.
HUF coins & banknotes
- 5 Ft
- 10 Ft
- 20 Ft
- 50 Ft
- 100 Ft
- 200 Ft
- 500 Ft
- 1,000 Ft
- 2,000 Ft
- 5,000 Ft
- 10,000 Ft
- 20,000 Ft
HUF quick facts
- The current forint coin series dates from 1993; the 100 forint coin turned bicolour in 1996 and the 200 forint coin bimetal in 2009, with both denominations' obverse and reverse designed by the same artist, István Kósa.
- The last fillér coin, the 50 fillér, was withdrawn on 30 September 1999; the fillér survives only as a unit of account of one hundredth of a forint.
- The 1 and 2 forint coins were withdrawn on 1 March 2008, leaving the 5 forint coin as the smallest circulating denomination.
- The 20,000 forint banknote, Hungary's highest circulating denomination, carries a watermark portrait of Ferenc Deák, a holographic foil strip bearing the coat of arms, and optically variable ink that shifts from gold to green when tilted.
- For the forint's 75th anniversary, the MNB issued six collector versions of the 5 forint coin in 2021 that, placed in the correct order, form the word FORINT.
HUF frequently asked questions
What is the currency of Hungary?
Hungary's currency is the Hungarian forint (ISO code HUF, numeric code 348), issued by the Magyar Nemzeti Bank; the symbol Ft is written after the amount. The forint is formally divided into 100 fillér, but fillér coins were withdrawn by 1999, so cash is settled in whole forints. Hungary has used the forint since 1 August 1946.
Is the Hungarian forint pegged to the euro?
No. The forint's exchange rate has floated freely since 26 February 2008; the euro serves only as a reference currency, with movements determined by supply and demand. The Magyar Nemzeti Bank targets inflation of 3 per cent ±1 percentage point rather than any exchange rate level, and the forint does not participate in ERM II.
Will Hungary adopt the euro?
Hungary has no target date to adopt the euro, the European Commission records. Hungary joined the EU in 2004, but the forint has not yet entered ERM II, which the euro convergence criteria require a country to join for at least two years, without severe tensions, before adopting the euro.
What banknotes and coins does Hungary use?
Hungarian cash consists of six coins — 5, 10, 20, 50, 100 and 200 forint — and six banknotes: 500, 1,000, 2,000, 5,000, 10,000 and 20,000 forint, belonging to the series renewed from 2014. Banknotes withdrawn from circulation retain their face value: credit institutions and the post office exchange them for three years and the MNB for twenty years after withdrawal, free of charge.
Explore HUF
Facts on this page are sourced from Magyar Nemzeti Bank and other primary references (16 sources). Rates are mid-market and for information only.
Sources for this HUF profile
16 primary sources behind the facts above, each listed with the sections of this page it is cited for. Links open on the publisher's own site.
- Magyar Nemzeti Bank www.mnb.hu/en/monetary-policy/monetary-policy-framework/exchange-rate-regime Cited for: Exchange rate regime · About · FAQ
- Magyar Nemzeti Bank www.mnb.hu/en/monetary-policy/monetary-policy-framework/inflation-targeting Cited for: Exchange rate regime · About · FAQ
- European Commission economy-finance.ec.europa.eu/euro/eu-countries-and-euro/hungary-and-euro_en Cited for: Exchange rate regime · About · FAQ
- Magyar Nemzeti Bank www.mnb.hu/en/banknotes-and-coins/banknotes/current-series Cited for: Coins & banknotes · FAQ
- Magyar Nemzeti Bank www.mnb.hu/en/banknotes-and-coins/coins Cited for: Coins & banknotes · Quick facts · FAQ
- Magyar Nemzeti Bank www.mnb.hu/en/banknotes-and-coins/coins/coins-withdrawn-since-1946 Cited for: Minor unit · Introduced · About · Quick facts · FAQ
- Hungarian Money Museum (Magyar Nemzeti Bank) www.penzmuzeum.hu/en/visit/exhibitions/temporary-exhibitions/the-legacy-of-the-gold-train-rebirth-of-the-hungarian-currency Cited for: Introduced · About
- Hungarian Money Museum (Magyar Nemzeti Bank) www.penzmuzeum.hu/en/discover/publications/news/new-temporary-exhibition Cited for: About
- Bank for International Settlements www.bis.org/publications/triennial-survey/rpfx25-fx-annex-2606.pdf Cited for: About
- Magyar Nemzeti Bank www.mnb.hu/en/banknotes-and-coins/banknotes Cited for: About
- Magyar Nemzeti Bank www.mnb.hu/en/banknotes-and-coins/banknotes/new-ten-thousand-forint-banknote Cited for: About
- Magyar Nemzeti Bank www.mnb.hu/en/banknotes-and-coins/banknotes/new-five-hundred-forint-banknote Cited for: About
- Magyar Nemzeti Bank www.mnb.hu/en/banknotes-and-coins/banknotes/withdrawn-series Cited for: About · FAQ
- Magyar Nemzeti Bank www.mnb.hu/static/kpl_en/u20000/u20000_en.htm Cited for: Quick facts
- Magyar Nemzeti Bank www.mnb.hu/en/pressroom/press-releases/press-releases-2021/on-2-august-2021-the-mnb-issued-exceptionally-six-collector-versions-of-the-5-forint-circulation-coin-in-12-million-pieces-to-mark-the-75th-anniversary-of-the-introduction-of-the-forint-2 Cited for: Quick facts
- European Central Bank www.ecb.europa.eu/press/other-publications/convergence/html/ecb.cr202606~30e75ae1c2.en.html Cited for: FAQ