Budapest Currency Guide
If you are planning a trip to Budapest, it is important to know about the local currency. In this guide, we will discuss the official currency of Budapest, how to exchange money, and tips for handling money during your stay. Understanding the currency of a foreign country can help you avoid common pitfalls and make the most of your trip.
The official currency of Budapest
The official currency of Budapest is the Hungarian Forint (HUF). It has been the country’s official currency since 1946, replacing the Hungarian korona. The HUF is widely accepted throughout the city, and it is recommended that visitors exchange their currency for forints upon arrival to avoid any issues with payment during their stay.
Hungarian Forint (HUF)
The Hungarian Forint comes in banknotes and coins. Banknotes are available in denominations of 500, 1000, 2000, 5000, 10,000, and 20,000 HUF. Coins are available in denominations of 5, 10, 20, 50, and 100 HUF. The HUF is a relatively stable currency, and its value has remained steady for several years.
Where to exchange money in Budapest
There are several places to exchange money in Budapest, including banks, exchange offices, and hotels. Banks typically offer the best exchange rates, but they may have limited hours. Exchange offices are open longer hours, but their rates may be slightly higher. It is important to compare rates and fees before exchanging money.
Currency exchange rates
Exchange rates for the Hungarian Forint can fluctuate, so it is important to keep an eye on the current rate before exchanging money. You can check the exchange rate on websites such as XE.com or Oanda.com. It is also a good idea to ask the exchange office or bank about any additional fees that may be charged.
Credit cards and ATMs in Budapest
Credit cards are widely accepted in Budapest, especially in tourist areas and larger establishments. ATMs are also available throughout the city, and they usually offer a good exchange rate. It is important to notify your bank before traveling to Budapest to avoid any issues with card usage.
Using foreign currency in Budapest
While it is possible to use foreign currency in Budapest, it is not recommended. Most establishments will only accept Hungarian Forint, and you may receive a poor exchange rate if trying to pay with a different currency.
Tips for handling money in Budapest
To avoid any issues with payment during your stay in Budapest, it is recommended that you exchange your currency for forints upon arrival. It is also a good idea to carry small bills and coins for smaller purchases. Keep your money in a secure place, such as a money belt or a hotel safe, and be aware of your surroundings when using an ATM.
Budgeting for a trip to Budapest
Budapest is a relatively affordable city to visit, especially compared to other European destinations. A budget of 100-150 USD per day should be sufficient for most travelers, including accommodations, meals, and activities.
Other forms of payment in Budapest
In addition to cash and credit cards, some establishments in Budapest may also accept mobile payments or contactless cards. However, it is always a good idea to have cash on hand, especially for smaller purchases.
Conclusion: Final thoughts on Budapest currency
Understanding the currency of Budapest can help make your visit more enjoyable and stress-free. Exchange your currency for Hungarian Forint upon arrival, be aware of exchange rates and fees, and keep your money secure. With these tips in mind, you can make the most of your trip to this beautiful city.
