Bitget App
Trade smarter
Buy cryptoMarketsTradeCopyBotsEarnWeb3
base info VeChain

VeChain to Hungarian Forint Converter and calculator

Convert 1VeChain (VET) to Hungarian Forint (HUF) equals Ft 15.72 | Bitget
VET
VET
swap
HUF
Last updated 2023/09/01 02:23:05 (UTC+0)Refreshrefresh
Want to display this on your website?
Bitget converter offers real-time exchange rates, allowing for easy conversion of VeChain(VET) to Hungarian Forint(HUF). This is the real-time data. The current conversion shows 1 VET at a value of 1 VET for 15.72 HUF . Since crypto prices can change rapidly, we suggest checking back for the latest conversion result.

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.

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

VET to HUF conversion rate trend

1D7D1M3M1YAll
In the past 1D, VeChain has changed +1.14% to HUF. Based on the trend and price charts, VeChain(VET) has changed +1.14% to HUF while Hungarian Forint(HUF) has changed % to VET in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
Ft15.72
0.0001% / 0.0004%vip-iconVIP
Binance
Ft15.76
0.1000% / 0.1000%
Yes
Huobi
Ft15.76
0.1000% / 0.1000%
Yes
Gate.io
Ft15.73
0.1000% / 0.1000%
Yes
KuCoin
Ft15.76
0.1000% / 0.1000%
Yes
Bitfinex
Ft15.73
0.1000% / 0.1000%
Yes
Last updated 2024/04/24 06:00:37(UTC+0)

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

VeChain to Hungarian Forint is rising this week.
VeChain's current market price is Ft 15.72 per VET, with a total market cap of Ft 1,143,344,147,371.51 HUF based on a circulating supply of 72,714,520,000 VET. The trading volume of VeChain has changed by +2.27% (Ft 513,821,464.37 HUF) in the last 24 hours. Last trading day, VET's trading volume was Ft 22,646,280,769.3.
Market cap
$3.11B
24h volume
$63.04M
Circulating supply
72.71B VET

Conversion tables

The exchange rate of VeChain is decreasing.
1 VET is currently valued at Ft 15.72 HUF , which means buying 5 VET will cost Ft 78.62 HUF . Similarly, Ft1 HUF can be traded for 0.06360 VET, and Ft50 HUF can be converted to 3.18 VET, excluding any platform or gas fees.
The exchange rate of 1 VET to Hungarian Forint has changed by +5.77% in the last 7 days. In the last 24 hours, the rate has fluctuated by +1.14%, reaching a high of 15.88 HUF and a low of 15.24 HUF . One month ago, the value of 1 VET was Ft 15.81 HUF , which represents a -0.56% change from its current value. Over the last year, VeChain has changed by
+Ft
7.67HUF
, resulting in a change of +95.21% in its value.

VET to HUF

Amount
06:17 am today
0.5 VET
Ft7.86
1 VET
Ft15.72
5 VET
Ft78.62
10 VET
Ft157.24
50 VET
Ft786.19
100 VET
Ft1,572.37
500 VET
Ft7,861.87
1000 VET
Ft15,723.74

HUF to VET

Amount06:17 am today
0.5HUF0.03180  VET
1HUF0.06360  VET
5HUF0.3180  VET
10HUF0.6360  VET
50HUF3.18  VET
100HUF6.36  VET
500HUF31.8  VET
1000HUF63.6  VET
share

Today vs. 24 hours ago

Amount06:17 am today24 hours ago24h change
0.5 VET$0.02140$0.02116
+1.14%
1 VET$0.04280$0.04232
+1.14%
5 VET$0.2140$0.2116
+1.14%
10 VET$0.4280$0.4232
+1.14%
50 VET$2.14$2.12
+1.14%
100 VET$4.28$4.23
+1.14%
500 VET$21.4$21.16
+1.14%
1000 VET$42.8$42.32
+1.14%

Today vs. 1 month ago

Amount06:17 am today1 month ago1M change
0.5 VET$0.02140$0.02152
-0.56%
1 VET$0.04280$0.04304
-0.56%
5 VET$0.2140$0.2152
-0.56%
10 VET$0.4280$0.4304
-0.56%
50 VET$2.14$2.15
-0.56%
100 VET$4.28$4.3
-0.56%
500 VET$21.4$21.52
-0.56%
1000 VET$42.8$43.04
-0.56%

Today vs. 1 year ago

Amount06:17 am today1 year ago1Y change
0.5 VET$0.02140$0.01096
+95.21%
1 VET$0.04280$0.02193
+95.21%
5 VET$0.2140$0.1096
+95.21%
10 VET$0.4280$0.2193
+95.21%
50 VET$2.14$1.1
+95.21%
100 VET$4.28$2.19
+95.21%
500 VET$21.4$10.96
+95.21%
1000 VET$42.8$21.93
+95.21%

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.