The lowdown on the Hungarian forint
Economical Influences on the Hungarian forint
If you are considering converting AUD to HUF, it’s good to get a snapshot of how the economy may influence the Hungarian forint.
Post the fall of communism in 1990, Hungary has transitioned from a centrally-planned economy to a market driven one.1
In its early independent days Hungary went through economic reforms including the privatisation of state-owned entities and a reorientation of trade towards the west.1
The transition of the economy in the 1990’s also caused havoc with the value of the forint, with inflation peaking at 35% in 1991.2
Since 2001, inflation has been recorded in single digits meaning the currency is now fully convertible and relatively stable.2
Hungarian forint Historical Exchange Rate
Since the fall of communism in the 90’s, the Hungarian forint has exponentially improved over time as the market has stabilised.1
In the last five-year period the forint has performed well, fluctuating minimally.3 Back in December 2013 1 AUD was converting to approximately 191.52922 HUF.
By September 2014 that figure dropped with 1 AUD buying 227.11626 HUF; however a year later in August 2015 the forint had returned to around 194.12235 for 1 Australian dollar. 3
By July 2016 the AUD was buying around 216.90685 HUF, and in February 2017 that figure was around 224.61344 HUF per AUD.3
2018 saw the forint improve to approximately 194.80 forint to 1 Australian dollar.
Learn more about the forint before you travel to the Hungary and create a currency rate alert and we’ll let you know when it hits your ideal rate!
1. Central Intelligence Agency - https://www.cia.gov/library/publications/the-world-factbook/geos/hu.html
2. BBC - http://news.bbc.co.uk/2/hi/business/1395135.stm
3. XE - https://www.xe.com/currencycharts/?from=AUD&to=HUF&view=5Y
*The information contained in this article has been compiled by Travelex from different external sources. The figures provided are indicative only and are there to provide an idea of the amount of travel money you may need during your trip. Travelex does not ensure the accuracy and completeness of the information shown. Nothing in this article is to be considered financial advice. Travelex Limited does not accept any liability for any loss or damage derived from any reliance on the information in this article. Travelex Limited (ABN 36 004 179 953, AFSL Number 222444) arranges for and sells Online Foreign Currency via its Online Ordering Facility. You should consider the Online Foreign Currency Product Disclosure Statement and Terms and Conditions before deciding whether to acquire the product.