The Republic of Hungary is a landlocked country surrounded by Austria, Croatia, Romania, Slovenia, Slovakia, Serbia and the Ukraine. The currency, indicated by HUF, is the florint with 100 fillérs equal to 1 forint. Hungary exports machinery and equipment. Its major trading partners are Germany and Italy.
History
The first coins to make their way to Hungary were Celtic coins in the style of Greek. They came from the Baltic region. In the 2nd century, bronze coins made an appearance and during the 1st century, local coins began to imitate Roman denarii. The coins all hailed from elsewhere, only a few local coins began to appear.
Under the Romans, currency came from the mint in Rome, but later Yugoslavian mints became the major source of money. This ended when the country and those nearby were overrun. In fact, there was no money system in Hungary from this period until AD 955. At this point, the state of Hungary began to take shape.
In 100o, King Stephen of Hungary began to issue currency reflecting his conversion to Christianity. He began to mint dinar featuring a cross on each side. Later, coins bore a crowned head. By the 12th century, a more geometric design began to appear. This altered in mid century with a preference for Islamic and Byzantine-style designs.
The 13th century saw figurative designs on coins. These well-crafted creations featured crowned heads enthroned leaders and equestrian rulers. Also included was the Paschal Lamb on French-style pfennigs. Austrian coins also became part of the monetary mix.
King Charles Robert (1308-1342) minted large silver groszy and gold gulden as well as silver denars and oboles. The florins of the time began to imitate the Florentine rulers. Louis I (1342-1383) included national emblems on his coinage such as the Shiled of the Anjou-Hungary dynasty and the very popular image of St. Ladislas. The design went unaltered until 1470, the year Mattias Corovina replaced St. Ladislas with the Virgin Mary. St. Ladislas, however, reappeared once again under his namesake king on the reverse of the very first Hungarian talers.
In the 16th century, Hapsburg Hungary and a rival for the Hungarian throne both had their coins in circulation. The Hapsburgs also saw the introduction of the Kreuzer and the 5-denarii. Rival coinage also appears during the Revolt of the Malcontents 1704-1708.
WWI saw the dissolution of the Hapsburg Dynasty and the creation of a separate Hungarian state. Paper money comprised most of the currency due to inflation. The result was a new coinage in 1925. It stated 100 fillérs equaled 1pego. This system did not survive the war and the alliance with Germany. A new system of 100 fillérs equal 1 forint replaced the old one.
Today the currency retains the forint. The filler, however, no longer exists. In fact, the system of forint hopes to disappear between 2012 and 2020. The country is gearing up to have the euro as the official currency. You can find and use banknotes in the following denominations: 20,000, 10,000, 5,000, 2,000, 1,000, 500 and 200 Florins. Coins are in 1, 2, 5, 10, 20, 50 and 100. Some are currently being phased out in preparation for economic stability at the change over to the euro.
Obtaining Hungarian Forint
You can change your money or travelers checks into Hungarian forints at a number of places. These include banks, exchange offices and hotels. You may also find exchange possible at railway stations and airports, travel agencies and a few restaurants. Use ATMs. They are everywhere in Hungary except for some of the smaller villages. Do not, however, rely on unofficial moneychangers. It is illegal to uses street money exchangers.
Protecting Your Currency
As in many countries, a lot more street crime occurs during the tourist season. Take precautions to guard your money and valuables in public places and tourist spots. Of particular concern are airports, public transport such as buses, railway stations, open markets and shopping malls.
Using Your Hungarian Forint
Hungarian businesses like cash transactions. This is true both in the urban and rural areas. As a result, if you plan to spend time in the countryside, be sure to bring the local currency to spend. Use it to buy such things as national dolls, wooden toys, porcelain, embroideries and peppers. You can also spend money on the local wines.
Travel Tips and Warnings
- The transportation system may be subject to strikes. Check in advance to see how it may affect you.
- There is sometimes covert prejudice against people with dark skin.
- The usual precautions for women traveling alone apply.
- You cannot visit Hungary without going to Budapest.
- Visit Heroes Square, Liberty Bridge and Vajadahunyad Castle in Budapest as well as the Matthias church on Castle Hill and the Great Synagogue, the largest in Europe.
- Take a trip out to Lake Balaton with its thermal springs nearby and a Dolls Museum.
- Make sure you go to see the Archbishop Abbey of Pannonhalma.
Overview
Hungary
is a landlocked country in Europe adjacent to the Baltic lands. Once
ruled by the Hapsburgs, it is now making strides towards complete
unification with the European Union. Sometime after 2012, it will
abandon its local currency for the euro.
For factual information and data and travel information go to www.budapest.com.
Currency Summary
Current currency: forint
100 fillérs equals 1 forint
Coins: 1, 2, 5, 10, 20, 50 forint
Banknotes: 200, 500, 1,000, 2,000, 5,000, 10,000, and, 20,000 forint