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Polygon to Hungarian Forint Converter and calculator

Convert 1Polygon (MATIC) to Hungarian Forint (HUF) equals Ft 246.58 | Bitget

HUF information

About the Hungarian Forint (HUF)

What Is the Hungarian Forint (HUF)?

The Hungarian Forint (HUF), symbolized as Ft, is the national currency of Hungary. It was introduced in 1946 to stabilize the Hungarian economy after World War II, replacing the pengő which had suffered from extreme hyperinflation. The Hungarian Forint is the sole legal tender in Hungary.

The Hungarian Forint is issued and managed by the Hungarian National Bank, known in Hungarian as Magyar Nemzeti Bank. This central bank of Hungary is responsible for maintaining the stability of the national currency, controlling its circulation, and implementing monetary policy in alignment with the country's economic objectives. The Hungarian National Bank plays a crucial role in the financial system of Hungary, including the issuance of banknotes and coins in various denominations of the Forint.

What Is the History of HUF?

The Forint’s name originates from the city of Florence, where gold coins, known as fiorino d'oro, were minted from 1252. Hungary adopted a similar gold-based currency, the Florentinus, under Charles Robert in 1325. The forint was also the currency of the Austro-Hungarian Empire between 1868 and 1892. The modern Forint was reintroduced on August 1, 1946, replacing the pengő, which had suffered from severe hyperinflation post-World War II.

Notes and Coins of HUF

Hungarian banknotes are issued in denominations of 500, 1000, 2000, 5000, 10,000, and 20,000 forints, each featuring prominent Hungarian historical figures and landmarks. Coins come in 5, 10, 20, 50, 100, and 200 forint denominations. The Forint was initially subdivided into 100 fillér, but these coins were phased out due to inflation.

Economic Stability and Exchange Rates

The economic stability of the Hungarian Forint (HUF) has been a journey of significant transformation, especially since the fall of communism and Hungary's transition to a market economy. In the early 1990s, this shift brought about considerable inflation, peaking at 35% in 1991. However, the subsequent years saw a stabilization effort, with inflation dropping to single digits between 2001 and 2022. This period of relative stability was disrupted in February 2023 when inflation climbed to 25.80%, influenced by global economic factors such as the war in Ukraine and broader economic uncertainties. Despite these challenges, the Forint has maintained its status as a fully convertible currency, crucial for Hungary's trade and economic relations.

The exchange rate of the Hungarian Forint has seen fluctuations reflective of both domestic economic policies and global financial trends. As Hungary is a member of the European Union but has not adopted the Euro, the Forint’s value against the Euro and other major currencies like the U.S. dollar is a critical economic indicator

Why Doesn’t Hungary Use the Euro?

Hungary has not adopted the Euro for several reasons, despite initial plans to do so. Initially, Hungary aimed to replace the Hungarian Forint with the Euro around 2007 or 2008, later targeting January 1, 2010. However, these plans were abandoned due to high budget deficits, inflation, and public debt, preventing Hungary from meeting the Maastricht criteria. The global financial crisis of 2008 further complicated matters, despite aid from the IMF, EU, and World Bank. The Fidesz government, elected in 2010, has shown a soft Eurosceptic stance, maintaining the Forint and postponing discussions about adopting the Euro. Prime Minister Viktor Orbán stated that Euro adoption would not be considered until Hungary's public debt reached a 50% threshold, a significant reduction from its level in 2011.

Additionally, broader reasons why some EU countries, including Hungary, choose not to adopt the Euro involve maintaining financial independence. This independence allows for control over key issues like setting monetary policy, handling national debt, modulating inflation, and the ability to devalue the currency in certain circumstances. The European Central Bank sets economic and monetary policies for all Eurozone nations, which means individual states lack the independence to craft policies tailored to their own conditions. This lack of economic independence and the desire to maintain control over national financial policies contribute to Hungary's decision to retain the Forint instead of adopting the Euro.

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Bitget crypto-to-fiat exchange data shows that the most popular Polygon currency pair is the MATIC to HUF, with for Polygon's currency code being MATIC. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for HUF.

MATIC to HUF conversion rate trend

1D7D1M3M1YAll
In the past 1D, Polygon has changed -3.16% to HUF. Based on the trend and price charts, Polygon(MATIC) has changed -3.16% to HUF while Hungarian Forint(HUF) has changed % to MATIC in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
Ft247.37
0.0001% / 0.0004%vip-iconVIP
Binance
Ft247.27
0.1000% / 0.1000%
Yes
Coinbase Exchange
Ft247.24
0.1000% / 0.1000%
Yes
Kraken
Ft247.75
0.1000% / 0.1000%
Yes
OKX
Ft247.27
0.080% / 0.100%
Yes
Huobi
Ft247.37
0.1000% / 0.1000%
Yes
Gate.io
Ft247.2
0.1000% / 0.1000%
Yes
Bybit
Ft247.39
0.1000% / 0.1000%
Yes
KuCoin
Ft247.24
0.1000% / 0.1000%
Yes
Bitfinex
Ft248.2
0.1000% / 0.1000%
Yes
Last updated 2024/04/17 15:00:28(UTC+0)

What factors influence the conversion rate of Polygon to Hungarian Forint?

Polygon to Hungarian Forint is falling this week.
Polygon's current market price is Ft 246.58 per MATIC, with a total market cap of Ft 2,439,824,230,807.4 HUF based on a circulating supply of 9,894,742,000 MATIC. The trading volume of Polygon has changed by -36.00% (Ft -54,956,648,986.11 HUF) in the last 24 hours. Last trading day, MATIC's trading volume was Ft 152,650,149,815.47.
Market cap
$6.61B
24h volume
$264.74M
Circulating supply
9.89B MATIC

Conversion tables

The exchange rate of Polygon is decreasing.
1 MATIC is currently valued at Ft 246.58 HUF , which means buying 5 MATIC will cost Ft 1,232.89 HUF . Similarly, Ft1 HUF can be traded for 0.004056 MATIC, and Ft50 HUF can be converted to 0.2028 MATIC, excluding any platform or gas fees.
The exchange rate of 1 MATIC to Hungarian Forint has changed by -23.08% in the last 7 days. In the last 24 hours, the rate has fluctuated by -3.16%, reaching a high of 261.87 HUF and a low of 245.64 HUF . One month ago, the value of 1 MATIC was Ft 380.51 HUF , which represents a -35.20% change from its current value. Over the last year, Polygon has changed by
-Ft
184.86HUF
, resulting in a change of -42.85% in its value.

MATIC to HUF

Amount
15:14 today
0.5 MATIC
Ft123.29
1 MATIC
Ft246.58
5 MATIC
Ft1,232.89
10 MATIC
Ft2,465.78
50 MATIC
Ft12,328.89
100 MATIC
Ft24,657.78
500 MATIC
Ft123,288.92
1000 MATIC
Ft246,577.84

HUF to MATIC

Amount15:14 today
0.5HUF0.002028  MATIC
1HUF0.004056  MATIC
5HUF0.02028  MATIC
10HUF0.04056  MATIC
50HUF0.2028  MATIC
100HUF0.4056  MATIC
500HUF2.03  MATIC
1000HUF4.06  MATIC
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Today vs. 24 hours ago

Amount15:14 today24 hours ago24h change
0.5 MATIC$0.3341$0.3450
-3.16%
1 MATIC$0.6682$0.6900
-3.16%
5 MATIC$3.34$3.45
-3.16%
10 MATIC$6.68$6.9
-3.16%
50 MATIC$33.41$34.5
-3.16%
100 MATIC$66.82$69
-3.16%
500 MATIC$334.11$345
-3.16%
1000 MATIC$668.21$690.01
-3.16%

Today vs. 1 month ago

Amount15:14 today1 month ago1M change
0.5 MATIC$0.3341$0.5156
-35.20%
1 MATIC$0.6682$1.03
-35.20%
5 MATIC$3.34$5.16
-35.20%
10 MATIC$6.68$10.31
-35.20%
50 MATIC$33.41$51.56
-35.20%
100 MATIC$66.82$103.12
-35.20%
500 MATIC$334.11$515.58
-35.20%
1000 MATIC$668.21$1,031.15
-35.20%

Today vs. 1 year ago

Amount15:14 today1 year ago1Y change
0.5 MATIC$0.3341$0.5846
-42.85%
1 MATIC$0.6682$1.17
-42.85%
5 MATIC$3.34$5.85
-42.85%
10 MATIC$6.68$11.69
-42.85%
50 MATIC$33.41$58.46
-42.85%
100 MATIC$66.82$116.92
-42.85%
500 MATIC$334.11$584.59
-42.85%
1000 MATIC$668.21$1,169.18
-42.85%

FAQ

This content is being provided to you for informational purposes only, does not constitute an offer, or solicitation of an offer nor a recommendation by Bitget to buy, sell, or hold any security, financial product, or instrument referenced in the content, and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Data presented may reflect asset prices traded on the Bitget exchange as well as other cryptocurrency exchanges and market data platforms. Bitget may charge fees for the processing of cryptocurrency transactions which may not be reflected in the conversion prices displayed. Bitget is not liable for any errors or delays in content or for any actions taken in reliance on any content.