Bitget App
common_footer.down_desc
common_header.buy_cryptocommon_header.marketscommon_header.tradecommon_header.futurescommon_header.social_tradingcommon_header.grid_tradingcommon_header.earn

TROYUSDT now launched for futures trading and futures trading bots.

base info TROY

calculator.detail.title

calculator.detail.title_des
TROY
TROY
swap
HUF
coin.update_time (UTC+0)calculator.common.refreshrefresh
widget.page_site
calculator.detail.computed_des

calculator.fiat.title

About the Hungarian Forint (HUF)

What Is the Hungarian Forint (HUF)?

The Hungarian Forint (HUF), symbolized as Ft, is the national currency of Hungary. It was introduced in 1946 to stabilize the Hungarian economy after World War II, replacing the pengő which had suffered from extreme hyperinflation. The Hungarian Forint is the sole legal tender in Hungary.

The Hungarian Forint is issued and managed by the Hungarian National Bank, known in Hungarian as Magyar Nemzeti Bank. This central bank of Hungary is responsible for maintaining the stability of the national currency, controlling its circulation, and implementing monetary policy in alignment with the country's economic objectives. The Hungarian National Bank plays a crucial role in the financial system of Hungary, including the issuance of banknotes and coins in various denominations of the Forint.

What Is the History of HUF?

The Forint’s name originates from the city of Florence, where gold coins, known as fiorino d'oro, were minted from 1252. Hungary adopted a similar gold-based currency, the Florentinus, under Charles Robert in 1325. The forint was also the currency of the Austro-Hungarian Empire between 1868 and 1892. The modern Forint was reintroduced on August 1, 1946, replacing the pengő, which had suffered from severe hyperinflation post-World War II.

Notes and Coins of HUF

Hungarian banknotes are issued in denominations of 500, 1000, 2000, 5000, 10,000, and 20,000 forints, each featuring prominent Hungarian historical figures and landmarks. Coins come in 5, 10, 20, 50, 100, and 200 forint denominations. The Forint was initially subdivided into 100 fillér, but these coins were phased out due to inflation.

Economic Stability and Exchange Rates

The economic stability of the Hungarian Forint (HUF) has been a journey of significant transformation, especially since the fall of communism and Hungary's transition to a market economy. In the early 1990s, this shift brought about considerable inflation, peaking at 35% in 1991. However, the subsequent years saw a stabilization effort, with inflation dropping to single digits between 2001 and 2022. This period of relative stability was disrupted in February 2023 when inflation climbed to 25.80%, influenced by global economic factors such as the war in Ukraine and broader economic uncertainties. Despite these challenges, the Forint has maintained its status as a fully convertible currency, crucial for Hungary's trade and economic relations.

The exchange rate of the Hungarian Forint has seen fluctuations reflective of both domestic economic policies and global financial trends. As Hungary is a member of the European Union but has not adopted the Euro, the Forint’s value against the Euro and other major currencies like the U.S. dollar is a critical economic indicator

Why Doesn’t Hungary Use the Euro?

Hungary has not adopted the Euro for several reasons, despite initial plans to do so. Initially, Hungary aimed to replace the Hungarian Forint with the Euro around 2007 or 2008, later targeting January 1, 2010. However, these plans were abandoned due to high budget deficits, inflation, and public debt, preventing Hungary from meeting the Maastricht criteria. The global financial crisis of 2008 further complicated matters, despite aid from the IMF, EU, and World Bank. The Fidesz government, elected in 2010, has shown a soft Eurosceptic stance, maintaining the Forint and postponing discussions about adopting the Euro. Prime Minister Viktor Orbán stated that Euro adoption would not be considered until Hungary's public debt reached a 50% threshold, a significant reduction from its level in 2011.

Additionally, broader reasons why some EU countries, including Hungary, choose not to adopt the Euro involve maintaining financial independence. This independence allows for control over key issues like setting monetary policy, handling national debt, modulating inflation, and the ability to devalue the currency in certain circumstances. The European Central Bank sets economic and monetary policies for all Eurozone nations, which means individual states lack the independence to craft policies tailored to their own conditions. This lack of economic independence and the desire to maintain control over national financial policies contribute to Hungary's decision to retain the Forint instead of adopting the Euro.

coin.about_expand
calculator.fiat.text_2

calculator.detail.trend

1D7D1M3M1YAll
calculator.detail.trend_des

calculator.compare.title

calculator.compare.exchangecalculator.compare.pricecalculator.compare.maker_feecalculator.compare.tradable
Bitgethot-iconcalculator.compare.best
Ft1.61
0.0200% / 0.0320%vip-iconcalculator.compare.vip
Binance
Ft1.6
0.1000% / 0.1000%
calculator.compare.yes
Gate.io
Ft1.6
0.1000% / 0.1000%
calculator.compare.yes
coin.update_time(UTC+0)

calculator.right.title

buy-coin-step-0-img
calculator.htb.step1_title
calculator.htb.step1_des
buy-coin-step-1-img
calculator.htb.step2_title
calculator.htb.step2_des
buy-coin-step-2-img
calculator.htb.step4_title
calculator.htb.step4_des

calculator.p2p.buy_title

calculator.p2p.buy_desc3
calculator.p2p.trade_and_ratecalculator.p2p.pricecalculator.p2p.amt_limit
calculator.p2p.low_to_high
calculator.p2p.pay_methods
calculator.p2p.fee_tips
calculator.p2p.action
calculator.p2p.no_data

calculator.p2p.sell_title

calculator.p2p.sell_desc4
calculator.p2p.trade_and_ratecalculator.p2p.pricecalculator.p2p.amt_limit
calculator.p2p.high_to_low
calculator.p2p.pay_methods
calculator.p2p.fee_tips
calculator.p2p.action
calculator.p2p.no_data

calculator.detail.affect_title

calculator.detail.affect_up
calculator.detail.affect_today
calculator.detail.affect_market
$38.84M
calculator.detail.affect_valume
$234.90M
calculator.detail.affect_supply
8.63B TROY

calculator.detail.conversion_table

calculator.detail.conversion_up
calculator.detail.conversion_des1
calculator.detail.conversion_des2

coin.current_to_local

coin.amount
calculator.detail.time_
0.5 TROY
Ft0.8448
1 TROY
Ft1.69
5 TROY
Ft8.45
10 TROY
Ft16.9
50 TROY
Ft84.48
100 TROY
Ft168.95
500 TROY
Ft844.75
1000 TROY
Ft1,689.51

coin.current_to_local

coin.amountcalculator.detail.time_
0.5HUF0.2959  TROY
1HUF0.5919  TROY
5HUF2.96  TROY
10HUF5.92  TROY
50HUF29.59  TROY
100HUF59.19  TROY
500HUF295.94  TROY
1000HUF591.89  TROY

calculator.detail.price_24

coin.amountcalculator.detail.time_calculator.detail.price_24_agocalculator.detail.price_24_change
0.5 TROY$0.002252$0.001290
+74.89%
1 TROY$0.004504$0.002580
+74.89%
5 TROY$0.02252$0.01290
+74.89%
10 TROY$0.04504$0.02580
+74.89%
50 TROY$0.2252$0.1290
+74.89%
100 TROY$0.4504$0.2580
+74.89%
500 TROY$2.25$1.29
+74.89%
1000 TROY$4.5$2.58
+74.89%

calculator.detail.price_month

coin.amountcalculator.detail.time_calculator.detail.price_month_agocalculator.detail.price_month_change
0.5 TROY$0.002252$0.0006730
+236.41%
1 TROY$0.004504$0.001346
+236.41%
5 TROY$0.02252$0.006730
+236.41%
10 TROY$0.04504$0.01346
+236.41%
50 TROY$0.2252$0.06730
+236.41%
100 TROY$0.4504$0.1346
+236.41%
500 TROY$2.25$0.6730
+236.41%
1000 TROY$4.5$1.35
+236.41%

calculator.detail.price_year

coin.amountcalculator.detail.time_calculator.detail.price_year_agocalculator.detail.price_year_change
0.5 TROY$0.002252$0.001286
+75.41%
1 TROY$0.004504$0.002572
+75.41%
5 TROY$0.02252$0.01286
+75.41%
10 TROY$0.04504$0.02572
+75.41%
50 TROY$0.2252$0.1286
+75.41%
100 TROY$0.4504$0.2572
+75.41%
500 TROY$2.25$1.29
+75.41%
1000 TROY$4.5$2.57
+75.41%

coin.prediction

coin.prediction_question

price_predict.text_introduce

coin.prediction_question

price_predict.prediction_content

calculator.earn.title

calculator.earn.des
calculator.earn.coin

calculator.earn.apr

calculator.earn.action

calculator.p2p.latest_coins_title

calculator.p2p.latest_coins_desc

faq.title

calculator.faq.question1

calculator.faq.answer1

calculator.faq.question2

calculator.faq.answer2

calculator.faq.question3

calculator.faq.answer3

calculator.faq.question4

calculator.faq.answer4

calculator.faq.question5

calculator.faq.answer5

calculator.faq.question6

calculator.faq.answer6
calculator.detail.disclaimers