Hungarian forint explained: Why it matters for tourists and expats

Whether you’re visiting Hungary for a short city break or settling in as an expat, understanding the Hungarian forint (HUF) is essential to managing your money wisely. As Hungary’s official currency, the forint plays a central role in everyday life, from shopping and eating out to paying rent or exchanging money. But what exactly is the forint, and why should foreigners care about its fluctuations?

What is the Hungarian forint?

The forint (symbol: Ft; ISO code: HUF) has been Hungary’s currency since 1946, introduced after World War II to curb hyperinflation. Though Hungary is a member of the European Union, it has not adopted the euro and continues to use the forint. Banknotes come in denominations of 500, 1,000, 2,000, 5,000, 10,000, and 20,000 HUF, while coins range from 5 to 200 HUF (5, 10, 20, 50, 100, 200).

Exchange rates: What tourists should know

The value of the Hungarian forint can fluctuate significantly against major currencies such as the euro (EUR), U.S. dollar (USD), or British pound (GBP). These fluctuations can affect everything from hotel costs to the price of a coffee. For example, a stronger euro means European tourists will find Hungary more affordable.

For this reason, it’s crucial to check exchange rates before and during your trip. Currency exchange offices are common in central Budapest and other tourist hubs, though banks and ATMs generally offer more favourable rates. Avoid exchanging money at airports or train stations, where the rates can be less advantageous.

Daily spending: Understanding prices in forint

For many tourists and new expats, prices in forint may appear high at first glance simply due to the large numbers: HUF 10,000 for a meal might seem steep until you realise it’s about EUR 25. Most day-to-day expenses in Hungary are still considerably lower than in Western Europe. For example, a meal in a mid-range Budapest restaurant typically costs HUF 4,000–6,000 (roughly EUR 10–15), while monthly rent for a central one-bedroom apartment ranges from HUF 180,000 to 250,000 (EUR 460–640), depending on location.

How expats are affected

Expats paid in foreign currencies may benefit from favourable exchange rates, especially if the forint weakens. However, this also means their local expenses can fluctuate month by month. For those earning in forint, it’s important to keep an eye on inflation, which can erode purchasing power, particularly during periods of economic uncertainty.