When visiting Budapest, one of the first things travelers often ask is what currency is used in the city. Budapest, the capital of Hungary, offers a rich blend of history, architecture, and culture. Yet, to make the most out of your trip whether you’re dining in local restaurants, taking a river cruise, or shopping at central markets understanding the local currency and how to use it is essential. Although Hungary is located in the European Union, it has retained its national currency rather than adopting the euro, making financial preparation an important part of travel planning.
The Official Currency in Budapest
Hungarian Forint (HUF)
The official currency in Budapest, and throughout Hungary, is the Hungarian Forint, abbreviated as HUF. In everyday use, Hungarians refer to it simply as forint. Introduced in 1946, the forint replaced the pengő and has remained Hungary’s official currency ever since. The forint is used for all types of transactions, from purchasing groceries to paying hotel bills and entrance fees at tourist attractions.
The currency is available in both coins and banknotes. Coins come in denominations of 5, 10, 20, 50, 100, and 200 forints. Banknotes are issued in values of 500, 1,000, 2,000, 5,000, 10,000, and 20,000 forints. Some of the older coins and notes are occasionally still in circulation but may not be accepted everywhere, so travelers are encouraged to use current legal tender.
Currency Symbol
The symbol for the Hungarian Forint is Ft, which you will see listed on receipts, price tags, and menus throughout Budapest. For example, a cup of coffee might cost 800 Ft, and a museum ticket might be priced at 2,500 Ft.
Exchange Rates and Currency Conversion
How Much is the Forint Worth?
The value of the forint fluctuates against major world currencies like the euro (EUR), US dollar (USD), and British pound (GBP). On average, 1 euro is equivalent to around 370-390 HUF, though this rate can vary. It’s always a good idea to check the current exchange rate before converting money or making large purchases.
Where to Exchange Currency
You can exchange currency at several places throughout Budapest
- BanksOffer reliable exchange rates and secure transactions, though they may have limited hours.
- Currency exchange boothsFound in popular tourist areas and airports; rates can vary widely, so shop around.
- ATMsWidely available and typically offer competitive exchange rates. Always choose to be charged in forints rather than your home currency when using a foreign card.
Try to avoid exchanging money at the airport unless necessary, as rates are often less favorable there.
Can You Use Euros in Budapest?
Limited Acceptance of Euros
Although Hungary is a member of the European Union, it does not use the euro as its official currency. Some tourist-heavy establishments such as hotels, major restaurants, or souvenir shops may accept euros, but this is not guaranteed. Even when euros are accepted, the exchange rate offered is often unfavorable, and change is usually given in forints.
For that reason, it’s always better to pay in Hungarian forints while in Budapest to ensure better value and smoother transactions.
Why Doesn’t Hungary Use the Euro?
While Hungary is obligated to adopt the euro eventually as part of its EU membership agreement, it has not yet joined the eurozone. Economic considerations, inflation management, and political decisions have delayed the transition. As of now, there is no confirmed date when Hungary will adopt the euro.
Tips for Managing Money in Budapest
Using Credit and Debit Cards
Credit and debit cards are widely accepted in Budapest, especially in urban areas and major establishments. Visa and Mastercard are the most commonly accepted, while American Express may not be taken everywhere. Contactless payments via cards or mobile wallets like Apple Pay and Google Pay are also becoming more popular.
However, it’s still wise to carry some cash, especially when visiting smaller shops, traditional markets, or rural areas where card payments might not be accepted.
Watch Out for Dynamic Currency Conversion
Some card terminals offer the option to charge you in your home currency rather than in forints. This is called Dynamic Currency Conversion (DCC), and while it may seem convenient, it often comes with a worse exchange rate. Always choose to pay in the local currency (HUF) to avoid extra costs.
Keep Small Denominations
Public restrooms, vending machines, and some cafes may not accept large bills. It’s useful to have small notes and coins for minor purchases, tips, or public transportation.
Budgeting with Forints
General Price Ranges
Knowing the local currency also helps in estimating a daily budget. Below are some approximate price ranges in Budapest, listed in forints
- Cup of coffee 600-1,000 Ft
- Public transport ticket 450 Ft
- Fast food meal 2,000-3,000 Ft
- Mid-range restaurant meal 5,000-8,000 Ft
- Museum entry 2,000-4,000 Ft
Budapest is generally considered an affordable European destination, but prices can vary based on season and location.
Frequently Asked Questions About Budapest Currency
Do I need to tip in cash?
While tips can be added to card payments, many locals prefer tipping in cash. A 10% tip is standard in restaurants, and slightly more (12-15%) for exceptional service.
Should I bring forints with me or exchange after arriving?
It’s best to bring a small amount of forints for immediate needs and exchange or withdraw more once you’re in Budapest to get better rates. ATMs are safe and widely available.
Are traveler’s checks accepted?
Traveler’s checks are rarely used and not widely accepted in Budapest. Rely on cash and cards for daily expenses.
The currency in Budapest is the Hungarian Forint (HUF), not the euro, despite Hungary’s membership in the European Union. To navigate Budapest effectively, travelers should familiarize themselves with the forint, understand where and how to exchange money, and learn the most cost-effective payment methods. Whether you’re taking in the beauty of the Parliament building, enjoying traditional Hungarian goulash, or soaking in a thermal bath, knowing how to manage the local currency will make your experience smoother and more enjoyable. From ATMs to exchange rates, having a firm grasp of how money works in Budapest helps you travel smarter and with more confidence.