Currency Hungarian history and the current situation

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Hungary is a full member of the European Union since 2004.But despite this, the national currency is still Forint.According to forecasts, Hungary will be one of the last countries to move to a common European currency - this will happen in the next two years

Official data

Currency Hungary in the international currency market is indicated HUF, while inside the country at all price tags written as FL.Officially, the forint is one hundred fillers but in practice fillers long out of circulation due to high inflation.The smallest coin bargaining, which is now to be found is 1 forint.And the largest denomination - is 20 000 forints.

history

The name of the current currency in Hungary is recovering from the Italian city of Florence, where they minted gold florins.In the mid-19th century, it called forint currency of Austria-Hungary.It was only after World War II became the official currency of forints, replacing Peng, who disappeared due to hyperinflation.

In 70-80 years of the 20th century Hungarian currency gradually depreciated due to the weakness of the socialist economy.Once in 1989-90 in the country following democratic changes, inflation reached 35% per cent per annum - during this period have disappeared from circulation fillers.But the economic situation gradually improved, and the forint significantly strengthened its position in the global market.An inverse problem: the high cost and stability of the forint significantly hindered the development of the country's exports.

At the beginning of the new millennium, a law was passed, according to which the Hungarian currency can be traded only within the 240.01 - 324.71 forints per euro.

Appearance

Forints have a high degree of protection against forgery - they have security threads, watermarks, holographic strip.When viewed against the light, you will be sure to HUF abbreviation or emblem of the National Bank of the country.Currencies of Hungary made in two basic colors - light green and light purple.Images on the bills is quite traditional - a famous Hungarian historical figures Lajos Kossuth, Istvan section, St. Istvan and others.

exchange rules and recommendations

Currency exchange in Hungary specialized in formal settlements.The exchange is better to keep a check that there are no conflicts with the local authorities.Allowed to exchange in banks, travel agencies, post offices, hotels and exchange offices.Turagentsva take 1% commission for the exchange, and in the course of post offices may be below the market.

better not to change large sums that had not then make a reverse exchange.It will be very difficult, as banks in Hungary will prokonvertirovat no more than 100 dollars and take at the same 7% commission, plus it will be necessary to present the original receipt for exchange and your passport.If you want to buy more than 20,000 forints, the passport will still have to present.The output in this case - the active use of credit cards and traveler's checks.With this in Hungary there is no problem.

Hungarian banks are open until 15:00 on Saturdays and Sundays they are closed.But this is not critical, since the exchange can be made through ATMs or the many exchange offices.

in the country can import and export any amount in foreign currency.But for export forints there are restrictions: no more than 10 000 in total, and only bills 1,000 forints.

VAT refund

If you buy duty-free goods in specialized stores, you can count on the return of VAT from 12% to 25%.To do this, when leaving the country the customs services will need to show the items in the original packaging, so that they put an appropriate stamp on the original bill and gave the form of VAT refund.VAT refund is carried out within 90 days.

course

Currently, over 10 000 HUF you will pay about $ 44 US, 36 euros or 1,400 Russian rubles.