Hongarian Forint Plummets After Collapse of Eastern Bloc
Sharp Decline in Value
Conversion Rates
After the collapse of the Eastern Bloc, the value of the Hungarian forint plummeted. As of June 1, 2024, 10,000 HUF is equivalent to only 0.2564 EUR. Conversely, 1 EUR is now worth 38,430 HUF.
The sharp decline in the forint's value has been attributed to the economic turmoil following the breakup of the Soviet Union. The Hungarian government has implemented measures to stabilize the currency, but the full extent of the crisis remains uncertain.
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