The forint (Hungarian pronunciation: [ˈforint] ⓘ, sign Ft; code HUF) is the currency of Hungary.

The introduction of the forint on 1 August 1946 was a crucial step in the post-World War II stabilisation of the Hungarian economy, and the currency remained relatively stable until the 1980s.

[5] The forint was reintroduced on 1 August 1946, after the pengő was rendered worthless by massive hyperinflation in 1945–46, the highest ever recorded.

This was brought about by a mixture of the high demand for reparations from the USSR, Soviet plundering of Hungarian industries, and the holding of Hungary's gold reserves in the United States.

To the Independent Smallholders' Party–which had won a large majority in the 1945 Hungarian parliamentary election–as well as the Social Democrats, outside support was essential.

The Communist plan called for tight limits on personal spending, as well as the concentration of existing stocks[clarification needed] in state hands.

Each banknote depicts a famous Hungarian leader or politician on the obverse and a place or event related to him on the reverse.

All of the banknotes are watermarked, contain an embedded vertical security strip, an invisible ink design and are suitable for visually impaired people.

[11] Also due to the embarrassment caused by the fact that the model of the portrait on the banknote, purported to be of King Charles Robert (of whom no authentic contemporary depictions survived), turned out to be of an acquaintance of the designer, the managing director of the security company that supplied the banknote printing company.

Worn banknotes no longer fit for circulation are withdrawn, destroyed and turned into briquettes which are donated to public benefit (charitable) organizations to be used as heating fuel.