Currency
Currency of Hungary - Hungarian Forint
The Hungarian Forint is the official currency in Hungary. Officially it is then divided into 100 fillér, although since these are no longer in circulation; in effect they are redundant, having been a casualty of Hungary's constant battle with inflation.
The forint is denoted by the abbreviation ft. So, something that costs 4 forints, would be written as 4 ft.
History
The use of forints in Hungary dates back to around the early part of the 14th Century, when gold-based units of currency were introduced that were known as florentinus and were later known as forints. The name forint, derives from Florence the city, which is where coins were minted in the 13th Century.
It existed in various forms throughout the middle ages, but the forint as it is known today was basically introduced in 1946, after the Second World War.
However, it will not be around for a long time to come. Hungary was very proud to join the European Union in 2004 and as a condition of its joining it will adopt the standard European currency, the euro. However, this will not be until either 2012 or even 2014. Its adoption of the euro being dependent on its ability to manage its economic situation.
As of 2008, the economy and the Government in Hungary are both in a precarious position. This is actually good news for anyone travelling to Hungary, since it means that they will get more forints for their dollars, pounds or euros.
The Hungarian Forint is the official currency in Hungary. Officially it is then divided into 100 fillér, although since these are no longer in circulation; in effect they are redundant, having been a casualty of Hungary's constant battle with inflation.
The forint is denoted by the abbreviation ft. So, something that costs 4 forints, would be written as 4 ft.
History
The use of forints in Hungary dates back to around the early part of the 14th Century, when gold-based units of currency were introduced that were known as florentinus and were later known as forints. The name forint, derives from Florence the city, which is where coins were minted in the 13th Century.
It existed in various forms throughout the middle ages, but the forint as it is known today was basically introduced in 1946, after the Second World War.
However, it will not be around for a long time to come. Hungary was very proud to join the European Union in 2004 and as a condition of its joining it will adopt the standard European currency, the euro. However, this will not be until either 2012 or even 2014. Its adoption of the euro being dependent on its ability to manage its economic situation.
As of 2008, the economy and the Government in Hungary are both in a precarious position. This is actually good news for anyone travelling to Hungary, since it means that they will get more forints for their dollars, pounds or euros.
