A look back at British pound to Hungarian forint rates The gold exchange rate was set at 13.21 forint per gram of gold. The only way to save the Hungarian economy was to introduce another new currency: the Hungarian forint that’s still in use today. When inflation rose to serious levels, the korona was replaced by the Hungarian pengő in 1927, at a rate of 12,500 korona to one pengő, and defined as 3,800 pengő to one kilogram of fine gold. The American Great Depression of the 1930s affected Hungarian agriculture and worsened the country’s debt, as did the onset of the Second World War.īy 1945, the pengő had suffered the highest rate of hyperinflation ever recorded, and had become basically worthless. In Hungary, this was the Hungarian korona. From 1892 onwards, the Austro-Hungarian korona was the currency of the empire, until the end of the First World War in 1918 when, as part of the Treaty of Saint-Germain, the Austro-Hungarian Bank had to be liquidated and the korona had to be replaced with a different currency. In Hungary, a gold-based currency known as florentinus was used from 1325.īy the time of the Austro-Hungarian Empire, the currency used between 18 was known as the florin in German and as the forint in Hungarian. The Hungarian forint gets its name from the city of Florence in Italy, where gold coins known as fiorino d’oro were minted from 1252.

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