Roberta Aguirre
Although Hungary is a member of the European Union, it has not adopted the euro as its official currency. Instead, the country uses the Hungarian Forint (HUF) for payments. While some tourist spots, shops, and restaurants in Budapest may accept euros, the exchange rate they apply is usually worse than what you would get at a currency exchange. As such, it is recommended to pay in the local currency, Hungarian Forint, in cash or by card. You can exchange your currency at banks, currency exchange offices, and some hotels in Budapest, although the rates at the airport are typically less favourable.
| Characteristics | Values |
|---|---|
| Currency used in Budapest | Hungarian Forint (HUF) |
| Euro in Budapest | Some shops, restaurants, and tourist spots accept euros |
| Using cards in Budapest | Cards are accepted almost everywhere |
| Cash in Budapest | Cash is the only method accepted everywhere |
| Best place to exchange money | City centre of Budapest |
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What You'll Learn
Euro is not the official currency in Budapest
Although Hungary is a member of the European Union, it has not adopted the Euro as its official currency. Instead, the country uses the Hungarian Forint (HUF) for payments. The Hungarian National Bank (Magyar Nemzeti Bank) maintains control over its monetary policy, including issuing the Hungarian Forint. As such, it is recommended to use the local currency when visiting Budapest.
While some shops, restaurants, and tourist spots in Budapest may accept Euros, the exchange rates applied at the till are usually unfavourable. This means that you may end up paying more than if you had used Hungarian Forints. It is important to note that the decision to join the Eurozone involves various economic and political considerations.
When paying by card in Budapest, always choose to pay in Forint and not in Euro to avoid dynamic currency conversion, which may result in a worse exchange rate and extra fees. It is also worth noting that while card usage covers the majority of expenses in Budapest, having a small cash reserve of Hungarian Forint is recommended. This can be useful for tipping, market purchases, public toilets, or in the rare instance where card payments are not accepted.
If you need to exchange currency, it is best to avoid doing so at the airport, as the exchange rates there are typically less favourable. Instead, consider using a trusted exchange office in the city centre or withdrawing Forints directly from a Hungarian bank ATM, which often offers better rates. Additionally, it is recommended to carry a mix of cash and card when travelling to Budapest, as card payments are widely accepted, but cash is still quite popular and may be necessary in certain situations.
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Hungarian Forint is the official currency in Budapest
The Hungarian Forint (HUF) is the official currency in Budapest. While Hungary is a member of the European Union, it has not adopted the euro as its official currency. The country has its own central bank, the Hungarian National Bank, which maintains control over its monetary policy, including issuing the Hungarian Forint.
It is best to get Hungarian Forint before arriving in Budapest. If you are unable to do so, you can exchange money at the Budapest Airport or in the city centre. However, the exchange rates at the airport are not as favourable as those in the city centre. It is recommended to only exchange a small amount of money at the airport that will last you a day, and then exchange the rest of your money in the city centre.
Some shops, restaurants, and tourist spots in Budapest accept payments in Euros. However, the exchange rates applied at the till are usually worse than what you would get at a currency exchange. Therefore, it is recommended to pay in Hungarian Forints to avoid inflated prices and unfavourable exchange rates.
Card payments are widely accepted in Budapest, and most places accept them. It is recommended to carry a mix of cash and card. If you are paying by card, always choose to pay in the local currency (HUF) when given the option.
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Budapest Airport duty-free shops quote prices in Euros
The official currency in Budapest is the Hungarian Forint (HUF). While Euros are accepted in some shops and restaurants in the city, particularly in tourist-heavy areas, it is not recommended as the exchange rate they apply at the till is usually worse than what you would get at a currency exchange.
However, according to some sources, the Budapest Airport duty-free shops quote prices in Euros. The prices in Euros are estimated, and the exact prices in the store are set in Euros. While the duty-free shops at the airport may accept payments in all common currencies, it is not confirmed whether they accept Hungarian Forint (HUF) as well.
One source mentions that the prices in Euros at the duty-free shops are slightly higher. The exchange rate that the duty-free shops set is generally to their benefit, and with the Forint slumping against the Euro, it may not be a good idea to spend Euros at duty-free shops in Budapest.
Therefore, it is advisable to check the duty-free shops' website to know the prices before entering the airport.
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Using a card in Budapest
The official currency in Budapest is the Hungarian Forint (HUF). While it is possible to pay in Euros at some places, it is recommended to use the local currency to avoid inflated prices and unfavourable exchange rates.
Card payments are available almost everywhere in Budapest, including cafes, museums, bars, markets, and even some market stalls. Contactless payments are becoming increasingly popular, with a limit of 15,000 HUF per transaction. Most ATMs in Budapest do not charge fees, but those that do typically have a fee of around 1,200 HUF. It is generally recommended to withdraw Forints directly from a Hungarian bank ATM, as this often provides a better exchange rate than exchanging cash.
If you are travelling to Budapest, it is a good idea to carry a mix of cash and card. While card payments are widely accepted, there may be situations where cash is the only accepted form of payment, such as in markets, small restaurants, and street food stalls. Additionally, having cash can be useful for tipping, which is not expected but is appreciated if you are happy with the service.
Finally, consider purchasing a Budapest Card, the official tourist city card, which offers benefits such as free public transport, discounts at attractions, and savings on guided tours.
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Exchanging currency in Budapest
The official currency in Budapest is the Hungarian Forint (HUF). While some shops and restaurants, especially in tourist-heavy areas, may accept Euros, it is recommended to use the local currency to avoid inflated prices and mystery markups.
If you are looking to exchange currency in Budapest, it is best to do so in the city centre, as the rates are better than at the airport. There are many exchange shops in the city centre, and you can also withdraw Forints directly from a Hungarian bank ATM, which is often cheaper than exchanging cash. Be sure to avoid Euronet ATMs, as their fees and rates are notoriously bad.
If you need to exchange money at the airport, only exchange a small amount to cover your immediate needs, such as airport transfers. You can then exchange the rest of your money at a more competitive location in the city.
When exchanging cash at a currency exchange bureau, be sure to check their offered rate against the live mid-market rate and add in any upfront fees to determine the true cost of the conversion. It is also important to note that choosing to be charged in your home currency usually results in a worse exchange rate and additional fees. Therefore, always opt to be charged in the local currency, HUF.
Additionally, if you have access to a HUF bank account in Budapest, you can use a money transfer service, such as Wise, to send money to Hungary in advance and take advantage of the mid-market exchange rate.
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Frequently asked questions
Yes, you can use euros at Budapest Airport. However, the Hungarian Forint (HUF) is the official currency in Budapest, and it is recommended to pay in this currency to avoid inflated prices and unfavourable exchange rates.
You can exchange your currency at Budapest Airport, but this is not recommended due to poor exchange rates. You can get better rates in the city centre at banks or currency exchange offices. Withdrawing directly from a Hungarian bank ATM is another option, but be sure to choose the local currency option.
Card payments are widely accepted in Budapest, and it is recommended to have a mix of cash and card. Cash is the only method accepted everywhere and is useful for tipping and small purchases.
