Which currency was introduced in Hungary on 1 August 1946?

The Hungarian forint was introduced in Hungary on 1 August 1946.

The forint replaced the pengő after Hungary experienced the most severe episode of hyperinflation recorded in modern history. Prices rose so rapidly in 1946 that the pengő became unusable, and the new currency was introduced as part of a monetary stabilisation programme.

The name forint comes from the florin, a gold coin associated with Florence and later used in parts of Europe. Hungary’s forint is divided into 100 fillér, although fillér coins ceased circulating in 1999 because their value had become too small. The currency’s international code is HUF.

The Hungarian National Bank issues the country’s banknotes and coins. The forint is sometimes confused with the Romanian leu because both currencies are used in neighbouring Central and Eastern European countries, but they have separate histories and codes.