Hungarian Currency — The Forint (HUF) in 2026

What Is the Currency of Hungary?

Hungary’s currency is the forint (symbol Ft, ISO 4217 code HUF). Named after the medieval Florentine gold fiorino d’oro, the modern forint was introduced on 1 August 1946 to end one of history’s most spectacular hyperinflations — the 1945–1946 pengő crisis, in which prices doubled every 15 hours at peak. Formally subdivided into 100 fillér, but fillér coins were withdrawn from circulation in 1999.

The forint is issued by Magyar Nemzeti Bank (MNB), founded in 1924. Hungary has been an EU member since 1 May 2004 and is legally bound to eventually adopt the euro, but successive governments have declined to set a target date. The forint floats freely.

Hungarian Forint to US Dollar — 1-Year Chart

The chart tracks USD/HUF daily close over the past year. The forint is one of the more volatile major emerging-market currencies — sensitive to MNB–ECB rate spreads, EU-fund disbursements, and domestic political developments including the government’s repeated confrontations with the MNB and the European Commission.

Over the past 12 months the forint has strengthened significantly from about 353 to 310 HUF per USD — a 14.3% move in the forint’s favour, among the best emerging-market performances globally. MNB’s late 2024 / early 2025 hawkish hold plus improved EU-fund flows have been the main drivers.

Banknotes and Coins

Current Hungarian banknotes feature a rotating cast of monarchs, statesmen, and a single 20th-century figure — all chosen for their role in Hungarian political or economic history. The series has been progressively upgraded with new security features and redesigned in 2014–2017.

Coins come in six denominations from 5 to 200 forints. Bimetallic 100 Ft and 200 Ft are the highest-denomination circulating coins.

History of The Forint

The forint’s history is book-ended by two hyperinflations: it was born to end the 1946 pengő collapse, and its most recent peak inflation (25.7% in January 2023) was among the highest in the EU. In between, the forint survived the collapse of communism, the 2008 financial crisis (which hit Hungary especially hard due to widespread CHF-denominated household mortgages), and the 2022 lira-mirror episode when HUF briefly traded at record lows.

The Hungarian Economy and the Forint

Hungary is a small, heavily export-oriented Central European economy deeply integrated into German manufacturing supply chains. Motor vehicles, electronics, and machinery dominate the export mix; Mercedes, Audi, BMW, and Suzuki all operate major production facilities in Hungary. Exports account for roughly 80% of GDP, among the highest ratios in the EU.

MNB runs a 3% CPI inflation target (±1 pp tolerance). After inflation peaked at 25.7% in January 2023, the bank undertook aggressive tightening — peak base rate of 13% in late 2022. The cutting cycle began mid-2023 and has brought the base rate down to 6.25% (cut 25 bp in February 2026, the first cut in 18 months). February 2026 CPI printed at 2.1%, below the 3% target for the first time in five years.

Using Forints in Hungary

Card acceptance is strong in Budapest, Debrecen, Szeged, and tourist hubs — Visa, Mastercard, and contactless mobile wallets all work in chain cafés, supermarkets, tram-ticket machines, and most restaurants. Cash persists in small-town Hungary, outdoor markets, and some taxi companies. Tipping (10%) is often paid in cash even when the bill is card-paid.

Typical prices in forints (2026): espresso in a Budapest café 600–900 Ft; lunch special 2,500–3,800 Ft; a pint of beer 1,200–1,800 Ft; a meal in a mid-range restaurant 5,500–8,500 Ft; a single Budapest metro ticket 450 Ft; a mid-range Budapest hotel room 28,000–55,000 Ft. OTP Bank, K&H, and Erste Bank operate the largest free ATM networks. Avoid Euronet machines — their conversion rates are notoriously poor.

The Forint in Regional Context

Hungary sits in the Central European non-euro group with Poland and the Czech Republic. All three run inflation-targeting regimes with materially different rates. Slovakia, Slovenia, and Austria on the other side of the border are all in the euro.

Frequently Asked Questions

What is the currency of Hungary?

Hungary’s currency is the forint (symbol Ft, ISO 4217 code HUF). Introduced on 1 August 1946 to end the 1945–1946 pengő hyperinflation — the worst in recorded history. Named after the medieval Florentine gold florin.

Is Hungary in the Eurozone?

No. Hungary is an EU member (since 1 May 2004) and is legally bound to eventually adopt the euro, but successive governments have declined to set a target date. The current government explicitly opposes near-term euro adoption.

Who manages Hungarian monetary policy?

Magyar Nemzeti Bank (MNB), founded 1924, headquartered in Budapest. Its Governor is Mihály Varga, who took office on 4 March 2025 — the 22nd governor in MNB’s history. Before his central-bank appointment, Varga was finance minister from 2013 to 2025.

What is the current MNB base rate?

The MNB base rate is 6.25% as of February 2026, after a 25-basis-point cut. It was the first cut in 18 months, following an earlier hiking cycle that peaked at 13% in 2022.

How many forints is one US dollar worth?

At the latest daily close, 1 USD ≈ 310 HUF. The forint has strengthened a remarkable 14.3% against the dollar over the past 12 months — one of the best 12-month performances among emerging-market currencies.

Can I use euros in Hungary?

Some Budapest tourist shops, hotels, and larger restaurants will accept euros, but the exchange rate offered is typically poor and change comes in forints. For everyday spending, use an ATM or a multi-currency card. Euros are not legal tender in Hungary.

Who are on Hungarian banknotes?

Six historical figures: Ferenc Rákóczi II (500 Ft), King Matthias Corvinus (1,000 Ft), Gabriel Bethlen (2,000 Ft), István Széchenyi (5,000 Ft), King Stephen I / Saint Stephen (10,000 Ft), and Ferenc Deák (20,000 Ft). All are central figures in Hungarian political and national-awakening history.