After the introduction, the Hungarian currency remained relatively stable for a considerable long time up to 1980s. In the early 1990s when the economy of Hungary changed from the planned to market economy, the economic forces played an important part in the deterioration in the forint. The inflation rate that came into play in the time and the forint was declared convertible. The country has attempted to stabilise their currency by converting to the use of euros entirely, but, it is unlikely to happen. Today, some institutions are charged with determining the exchange rate, and if you want the best rate, it would be important to use the Post Office Travel Money.
The name of the currency, forint, comes from the city of Florence, this is the place where the golden coins were made from the year 1325. It was a gold based currency and was under Charles Robert, and soon afterwards, other countries followed the example. After the introduction in the year 1946, the forint remained stable for a considerable period. However, it started to lose the power to purchase when Hungary changed into a market economy. It followed the lost competitiveness of the period 1970s and 1980s. After switching to a market economy, the inflation rate that was witnessed in the country made the forint depreciated a lot, but after economic reforms that were put in place, the currency has since stabilised.