The official currency of Hungary is the Hungarian forint. It is divided into 100 fillér and 5000 forint. The Hungarian forint symbol is Ft. The Hungarian forint, the ISO 4217 code of which is HUF, was introduced in 1946. One of its predecessors was the pengő, which was the official currency of Hungary from 1925 until 1946. The pengő was subdivided into 100 fillér.Prior to the Second World War, the Hungarian forint was pegged to the gold standard. The forint was reintroduced in 1946, replacing the pengő at a rate of 10 forint = 1 pengő. The forint was pegged to the Soviet ruble at a rate of 25 forint = 1 ruble. In October 1946, after the breakdown of the Soviet Union, the forint was allowed to float. The forint was re-pegged to the U.S. dollar at a rate of 250 forint = 1 dollar in March 1991. On March 1, 2008, more than 16 years after its introduction, the most popular symbol of currency, Ft, replaced the abbreviation of Hungarian forint with the official sign of the Hungarian National Bank, Ft.The abbreviation Ft is still often used, but according to laws, it has to be accompanied by the abbreviation forint. The Hungarian forint is not a hard currency, but for the last few years it has been one of the most stable currencies in central Europe.
