Sunday, June 14, 2009

Tomorrow is the 200 Forint Day

Starting tomorrow, the Hungarian government will begin issuing the new 200 forint coin, replacing the 200 forint bank note. Similar to the 100 forint coin, it will be minted in two metals with an outer and inner ring, made of 75% copper. The last date to be able to use the current 200 forint paper currency will be November 16, 2009. According to the central bank, the reasons are two-fold. The coins will have a longer life expectancy as the bills wear out faster and this is also to prepare people for the eventual adoption of the Euro. That will not be happening in the near future, but it is still interesting to think about the currency exchange identification between 100 or 200 forints and 1 or 2 Euros. Yikes, what a rate that would be sending inflation skyrocketing. The forint's name comes from the city of Florence, where golden coins were minted from 1252 called fiorino d'oro. Hungary's florentinus (later forint), was also a gold-based currency, which was used from 1325 under King Charles Robert

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