HUF

HUF is the ISO code for the Hungarian forint, the official currency of Hungary. The local currency symbol is Ft, and the forint is divided into 100 fillér, although fillér coins are no longer used in everyday transactions. The currency is issued and regulated by the Magyar Nemzeti Bank (MNB), Hungary’s central bank.

The forint was introduced on 1 August 1946 to replace the pengő after severe hyperinflation, as part of postwar stabilization efforts. The system has since evolved into a decimal currency, with the fillér subdivision largely retired from normal circulation.

Economically, the HUF is a fiat currency with a floating exchange rate managed by the MNB. Hungary is a member of the European Union but has not adopted the euro, and there is no fixed peg to the euro. The forint is traded on international currency markets and is used for all domestic transactions, as well as in cross-border trade with neighboring countries.

In practice, banknotes and coins of various denominations circulate for cash payments, while the currency is also used in electronic and card transactions. The MNB periodically issues new designs and security features for both banknotes and coins, and it monitors monetary conditions to maintain price stability and financial system integrity.