Hungarian forint (HUF)

ISO number: 348
ISO text: HUF
Name: Hungarian forint

The forint (sign: Ft; code: HUF) is the currency of Hungary. It is divided into 100 fillér, although fillér coins are no longer in circulation. The introduction of the forint on 1 August 1946 was a crucial step of the post-WWII stabilization of the Hungarian economy, and the currency remained relatively stable until the 1980s. Transition to market economy in the early 1990s deteriorated the value of the forint, inflation peaked at 35% in 1991. Since 2001, inflation is single digit and the forint was declared fully convertible. The forint is the only currency once used by a socialist European state that is still in circulation. As a member of the European Union, the long term aim of the Hungarian government is to replace the forint with the euro.