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V21 2018 INDEX       E-SYLUM ARCHIVE

The E-Sylum: Volume 21, Number 51, December 23, 2018, Article 21

HUNGARY COMPLETES BANKNOTE REDESIGN ROLLOUT

Hungary has completed the replacement of its older banknotes with newer upgraded versions. -Editor

Hungary 500 Forint note

New 500-forint bills will be put into circulation in Hungary on 1 February 2019, and the old banknotes may be used for payment until 31 October next year, the central bank (MNB) announced on Monday.

The 500-forint notes will remain an official means of payment until 31 October 2019, after which the MNB will have them withdrawn from circulation, and only the new 500-forint bills may be used for payment after that.

The central bank started to replace banknotes in 2014. The previous series was issued in 1997. Each of the new banknotes depicts the same persons and locations on their obverse and the reverse, respectively. Only the placement and size of the texts were changed besides the colours. The new banknotes also have additional security features which makes it even more difficult to forge them.

We have collected the old (left) and new (right) bank notes, both the obverses and reverses. We believe the pictures speak for themselves and clearly prove speculation wrong that the two series are easy to mix up.

Hungary banknotes old and new fronts

Hungary banknotes old and new backs

To read the complete article, see:
Here comes Hungary's new 500-forint banknote (http://www.portfolio.hu/en/economy/here-comes-hungarys-new-500-forint-banknote.38115.html)

For more information on the notes, I reached out to reader Dave Hirt who is currently in Budapest. Thanks. -Editor

Dave writes:

My wife Emi saw on the TV news about the new 500Ft note the same day you sent me this. This note, the lowest denomination of paper money completes the redesign of Hungarian paper money which started over a year ago. I believe the new notes have more security features in them. As far as I know the new notes have been well accepted.

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Wayne Homren, Editor

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To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@gmail.com

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