Hungarian Forint Celebrates 80 Years Since 1946 Currency Reform

On August 1, 1946 Hungary introduced the forint, replacing the hyperinflated pengő that had seen prices double every few hours after World War II. The new currency stabilized the economy after massive war‑damage, reparations to the Soviet Union, and uncontrolled money printing that drove the pengő’s value to near zero.

The first forint banknotes were issued without portraits of historic figures; later series added images of national icons such as Petőfi Sándor, Dózsa György, Lajos Kossuth, and others. The 80th anniversary marks eight decades of the forint’s uninterrupted use as Hungary’s legal tender.