If you’re ever curious about what’s the currency in Budapest, this article is for you! For those journeying to Hungary’s capital (or anywhere in Hungary), acquainting yourself with the national currency, the Hungarian forint (denoted as Ft. or HUF), is inevitable. Despite the prevalence of digital payments, numerous establishments in Budapest still operate on a cash-only basis. Wondering how much cash you’ll need or what precautions to take with HUF transactions? We’ve compiled essential information regarding Hungary’s currency and tips for handling cash payments in HUF.
What is Budapest money – the history of the Hungarian forint
The name “forint” comes from a gold coin called the “fiorino d’oro” made in Florence, Italy, in 1252. Hungary started using a similar gold coin called the florentinus in 1325 under King Charles Robert, and this coin later became known as the forint. This idea inspired other countries to do something similar.
From 1868 to 1892, Hungary called its money in the Austro-Hungarian Empire the “forint,” which was known as the Gulden in German. This money was split into 100 “krajczár” (now spelled krajcár, like the German Kreuzer).
What is a “pengő”? When was this currency in use in Hungary?
The pengő was the currency of Hungary between 1927 and 1946. It was introduced to stabilize the Hungarian economy and replace the korona, which had suffered from significant inflation following World War I. However, the pengő itself became infamous for experiencing the highest rate of hyperinflation ever recorded in history, particularly between 1945 and 1946, leading to its replacement by the forint on August 1, 1946.
What’s the currency in Budapest – what happened after WW2?
The forint became Hungary’s money again on August 1, 1946, after replacing the pengő, which had lost its value due to extremely high inflation in 1945-46 (as we mentioned), the worst ever seen. This financial disaster got worse because the USSR demanded payments, Soviet forces took from Hungarian industries, and Hungary’s gold stayed in the USA. Different groups in Hungary had various ideas on how to fix this. The Independent Smallholders’ Party and the Social Democrats, who won big in the 1945 elections, thought help from other countries was needed. But the Soviet Union and its supporters in the Hungarian Communist Party didn’t want foreign loans. They suggested using Hungary’s own resources, cutting back on spending, and the government controlling everything.
So, following its reintroduction in 1946, the forint enjoyed two decades of stability but began to depreciate in value as Hungary’s state-socialist economy waned in competitiveness through the 1970s and 1980s. The transition to a market economy after the democratic changes of 1989-90 initially saw high inflation rates of around 35% for three years, but subsequent reforms significantly stabilized the currency.
Forint as souvenir? Yes!
Keep some forint coins as a keepsake! The “50-forint coin series” features various designs on its reverse side. If you look through your change, you could spot a coin celebrating a major sports event, an important historical moment, or something significant in Hungary. Every year, a new design is introduced, with 2 million copies of each being made. If you’re attentive, you might discover one. When you do, keep it with you as a lucky charm.
Budapest Airport to town by private car
It is a very common and popular choice to get from Budapest Airport to town by private car.
It’s widely recognized among visitors to Budapest that the most dependable taxi service is identified by its distinctive green logo set against a yellow backdrop, known as “bolt” taxi. However, for airport to city transfers, this might not be the best option. Despite all taxis in Budapest operating with a standard fare, opting for a bolt taxi won’t save you money. Additionally, bolt taxis require prior booking and may not be immediately available upon arrival, as they’re not permitted to wait within the airport vicinity and must either wait nearby or travel from the city center. This can complicate locating your ride. There’s also the potential for added charges due to airport entry restrictions; drivers are granted free access only twice per day.
Budapest Airport transfer – MiniBUD
MiniBUD stands as Budapest Airport’s endorsed shuttle service, ferrying passengers to and from their residences and the airport. It’s recognized for its dependable transfer service, exceptional customer support, a host of friendly hostesses, and several service points within the airport premises.
MiniBUD accommodates both individual and group travel. However, for solo travelers, the journey to your destination or back to the airport may extend a bit. This is because MiniBUDs collect multiple passengers from a designated area before proceeding to the airport and similarly, aggregate several passengers from the airport before commencing drop-offs. Should you be the final stop on the driver’s route, the trip could span 1.5 to 2 hours.
For those requiring transportation to the airport, MiniBUD bookings can be made well in advance or at relatively short notice (ensure you secure your booking through their website or via telephone at least 5 hours before your flight takes off). For arrivals, simply locate a MiniBUD customer service desk post-landing, and they will facilitate your transfer promptly.
Budapest Airport to city center by bus
Opting for a bus as an airport shuttle transfer is equally favored among travelers. For those keen on acquainting themselves with the local public transit system of their vacation spot (and don’t mind handling their luggage), it’s encouraging to know that BKK, the city’s public transport authority, facilitates two bus services to and from Budapest Airport: the 100E and the 200E.
The 200E bus offers a route from Budapest Airport to Kőbánya-Kispest, which is the starting point for the M3 metro line (identified by its blue color and vertical trajectory through the city), catering to numerous stops along its path. It’s a popular choice for daily commuters, so it’s normal for it to become quite full as the journey progresses. Since Kőbánya-Kispest serves as the bus’s final stop, you’ll likely need to switch to the M3 metro line for closer access to the city’s core. At this juncture, buying a transfer ticket is advisable as it costs less than two individual tickets, or if you anticipate frequent use of public transport, consider purchasing a block of 10 tickets at the price of 9, or a multi-day pass valid on all lines for the entirety of your visit. For the more intrepid travelers, another route from Budapest Airport to the city involves taking a train directly to Nyugati Railway Station (Nyugati pályaudvar), a location that’s quintessentially central. This station offers seamless connections to the M3 metro, tram lines 4-6, and various bus routes, making any city destination easily accessible.
Budapest Airport to town by train
However, to catch the train, you’ll first need to board the 200E bus for a few stops (or the 900 bus during nighttime) and alight at Ferihegy vasútállomás (Ferihegy Railway Station), roughly 7 stops away from the airport, although the bus may bypass some stops if there are no passengers to pick up or drop off. Therefore, it’s crucial to monitor the bus’s overhead displays and listen to the announcements for your stop.
Upon reaching Ferihegy vasútállomás, train tickets can be acquired at the domestic ticket office (open daily from 6 AM to 6 PM) or from the automated machines on the platforms. Fortunately, any train from this station heads towards your destination, and with approximately 100 trains making the journey between the airport and Nyugati every day, you’re well-covered for options.
