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base info Tether USDt

Tether USDt to Hungarian Forint Converter and calculator

Convert 1Tether USDt (USDT) to Hungarian Forint (HUF) equals Ft 368.75 | 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 Tether USDt currency pair is the USDT to HUF, with for Tether USDt's currency code being USDT. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for HUF.

USDT to HUF conversion rate trend

1D7D1M3M1YAll
In the past 1D, Tether USDt has changed +0.01% to HUF. Based on the trend and price charts, Tether USDt(USDT) has changed +0.01% to HUF while Hungarian Forint(HUF) has changed % to USDT in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
Ft368.75
0.0001% / 0.0004%vip-iconVIP
Last updated 2024/04/15 06:57:23(UTC+0)

What factors influence the conversion rate of Tether USDt to Hungarian Forint?

Tether USDt to Hungarian Forint is rising this week.
Tether USDt's current market price is Ft 368.75 per USDT, with a total market cap of Ft 39,724,934,900,552.07 HUF based on a circulating supply of 107,728,050,000 USDT. The trading volume of Tether USDt has changed by -32.78% (Ft -15,675,887,872,502.90 HUF) in the last 24 hours. Last trading day, USDT's trading volume was Ft 47,824,710,238,340.89.
Market cap
$107.84B
24h volume
$87.27B
Circulating supply
107.73B USDT

Conversion tables

The exchange rate of Tether USDt is increasing.
1 USDT is currently valued at Ft 368.75 HUF , which means buying 5 USDT will cost Ft 1,843.76 HUF . Similarly, Ft1 HUF can be traded for 0.002712 USDT, and Ft50 HUF can be converted to 0.1356 USDT, excluding any platform or gas fees.
The exchange rate of 1 USDT to Hungarian Forint has changed by +0.09% in the last 7 days. In the last 24 hours, the rate has fluctuated by +0.01%, reaching a high of 369 HUF and a low of 368.2 HUF . One month ago, the value of 1 USDT was Ft 368.36 HUF , which represents a +0.11% change from its current value. Over the last year, Tether USDt has changed by
+Ft
0.1002HUF
, resulting in a change of +0.03% in its value.

USDT to HUF

Amount
06:57 am today
0.5 USDT
Ft184.38
1 USDT
Ft368.75
5 USDT
Ft1,843.76
10 USDT
Ft3,687.52
50 USDT
Ft18,437.6
100 USDT
Ft36,875.2
500 USDT
Ft184,376
1000 USDT
Ft368,752

HUF to USDT

Amount06:57 am today
0.5HUF0.001356  USDT
1HUF0.002712  USDT
5HUF0.01356  USDT
10HUF0.02712  USDT
50HUF0.1356  USDT
100HUF0.2712  USDT
500HUF1.36  USDT
1000HUF2.71  USDT
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Today vs. 24 hours ago

Amount06:57 am today24 hours ago24h change
0.5 USDT$0.5005$0.5004
+0.01%
1 USDT$1$1
+0.01%
5 USDT$5.01$5
+0.01%
10 USDT$10.01$10.01
+0.01%
50 USDT$50.05$50.04
+0.01%
100 USDT$100.1$100.09
+0.01%
500 USDT$500.51$500.45
+0.01%
1000 USDT$1,001.02$1,000.89
+0.01%

Today vs. 1 month ago

Amount06:57 am today1 month ago1M change
0.5 USDT$0.5005$0.5000
+0.11%
1 USDT$1$1.0000
+0.11%
5 USDT$5.01$5
+0.11%
10 USDT$10.01$10
+0.11%
50 USDT$50.05$50
+0.11%
100 USDT$100.1$100
+0.11%
500 USDT$500.51$499.98
+0.11%
1000 USDT$1,001.02$999.96
+0.11%

Today vs. 1 year ago

Amount06:57 am today1 year ago1Y change
0.5 USDT$0.5005$0.5004
+0.03%
1 USDT$1$1
+0.03%
5 USDT$5.01$5
+0.03%
10 USDT$10.01$10.01
+0.03%
50 USDT$50.05$50.04
+0.03%
100 USDT$100.1$100.08
+0.03%
500 USDT$500.51$500.38
+0.03%
1000 USDT$1,001.02$1,000.75
+0.03%

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.