Hungary-Releases-its-Upgraded-HUF-1,000-Note-into-Circulation

Hungary Releases its Upgraded HUF 1,000 Note into Circulation

01 Mar 2018  Thu

The National Bank of Hungary is going to officially circulate its new HUF 1,000 banknote today. These new notes have enhanced security features. They became legal tender last year, but never entered circulation to plan for a smooth transition.

Old HUF 1000 banknotes issued before 2017 will continue to be in circulation until 31st October. People will be allowed to exchange these old notes for new versions at all banks and postal offices for the next three years.

After three years, old notes can be exchanged at MNB’s retail cash office until 31st October 2038.

Designs for the new notes remain unchanged. The portrait of King Matthias Corvinus is featured on the obverse and the Hercules Fountain from the Castle of Visegrád is depicted on the reverse.

Security features for HUF 10,000 banknotes were upgraded late in 2014 while that of HUF 20,000 bill was upgraded in 2015. New HUF 2,000 and HUF 5,000 bills entered circulation last year.

Image courtesy Magyar Nemzeti Bank