Euro Hungarian Forint traded at 353.500 this Tuesday, February 8th, increasing 0.729 or 0.21 per cent since the previous trading session. Looking back, EURHUF changed -1.35 per cent over the last four weeks and -1.37 per cent over the last 12 months. Looking ahead, we forecast Euro Hungarian Forint to be priced at 355.533 by the end of this quarter and at 359.245 in one year, according to Trading Economics global macro models projections and analysts expectations.
After about 10 years of preparations, the euro was initiated on 1 January 1999: for the first three years it was an 'invisible' currency, only utilised for accounting purposes and electronic payments. Small change and banknotes were launched on 1 January 2002, and in 12 EU countries, the biggest cash changeover in history took place.
In 1946, Hungary's monetary unit, the forint, was adopted. Following WWII, the country began paying its obligations by printing money, resulting in enormous inflation. The pengö was the forint's precursor, and it was replaced at a rate of 400 quintillion pengö to one forint.
