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Hungary - Upgraded 1000-forint banknotes will be used for payment from today

We may see the upgraded 1000-forint banknote denominations in cash payments from 1 March 2018. In addition to their renewed appearance, the banknotes have been brought up-to-date with regards their security features.

The upgraded 1000-forint banknote denominations will enter cash circulation gradually from 1 March 2018, their presence is expected to be widespread a few months later.

Old 1000-forint banknotes, that are currently in circulation and were issued before 2017, can be used for payments until 31 October 2018. Subsequently the MNB will withdraw them; thus, only the upgraded 1000-forint banknotes may be used from 1 November 2018.

It should be noted that the old 1000-forint banknotes, which will have not been exchanged, will not lose their value after the date of withdrawal. After the date of withdrawal, the old banknotes may be exchanged to legal tender of the same denomination, free of charge in every bank and post office for 3 years, and at the MNB’s retail cash office for 20 years, i.e. until 31 October 2038.

For further, up-to-date details on the changes affecting forint banknotes, please, visit the page entitled Banknotes and Coins on the MNB’s website (https://www.mnb.hu/bankjegy-es-erme).

Source: mnb

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