Hungarian Forint
The currency of Hungary is the forint (HUF). Hungary is one of seven EU member states that don’t use the euro.
Hungary has historically run a budget deficit.3 Its aging population has the potential to burden the country’s social systems.
The inflation rate is currently running higher than normal but has shown signs of easing since the start of 2023.
The country’s labor force participation rate has been trending higher over the past 15 years. Hungary had the sixth-lowest ratio of household debt to GDP1 in the world in 2022.
About Hungary
GDP1
$223
Billion
USD
Major Exports2
Cars
Motor Vehicle Parts
Major Export Partners2
Germany
Italy
Romania
Budget Deficit3
-6.2%
Trade Flows4
-€5.4
Billion
EUR
Pros and Cons of the Hungarian Forint
- Independent monetary policy5
- Competitive export sector6
- Potential for higher yields7
- High volatility8
- Inflation pressure and policy uncertainty9
- Sensitive to EU relations and regional risk10
1. https://tradingeconomics.com/country-list/gdp?continent=europe
2. https://tradingeconomics.com/country-list/exports;
3. https://tradingeconomics.com/country-list/government-budget?continent=world
4. https://tradingeconomics.com/country-list/balance-of-trade
5. https://www.mnb.hu/en/monetary-policy
6. https://www.oecd.org/economy/hungary-economic-snapshot/
7. https://tradingeconomics.com/hungary/interest-rate
8. https://www.bis.org/statistics/rpfx22_fx.htm
9. https://www.imf.org/en/Countries/HUN
10. https://economy-finance.ec.europa.eu/index_en
It’s as easy as open, fund, trade.
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Start a Global Markets Portfolio with a Cash Account
Fund your account
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How to Buy the Hungarian Forint
Currency CD
Term
APY
3 Month
4.06%
6 Month
4.06%
9 Month
4.06%
12 Month
4.06%
Currency Deposit Account
$2,500 minimum initial trade per currency. After initial trade, no minimum trade amount required.
Balance
APY
All Balances
0.00%
How to Open An Account
Buying and selling foreign currencies begin with a Global Markets High Yield Cash Account, which serves as the funding account for your currency transactions. Once it’s open, you will automatically receive a Global Markets Portfolio. This Portfolio will allow you to buy and sell any of the 20 foreign currencies available.
Global Markets
High Yield Cash Account
The High Yield Cash Account with Global Markets access delivers the typical features of a checking account but adds high yields for every dollar in your account.
On top of that, it serves as the launchpad to funding your precious metals and foreign currency transactions as well as access to all Global Markets Products.
- Use as the funding account for precious metals and foreign currency transactions
- ACH transfers to/from external accounts
- Free online bill pay
- Debit card with $30/month of ATM fee reimbursement if charged (Coming Soon)
- 1st order of checks complimentary
- $5 monthly fee waived, no minimum balance required
Currency Deposit
- $2,500 minimum initial trade per currency
- After initial trade, no minimum trade amount required
Currency CD
- $10,000 minimum initial trade per Currency CD
- After initial trade, no minimum trade amount required
Available Currencies
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