Hungary is a country in central Europe that maintains its own currency known as Hungarian Forint (HUF). Hungary gets its GDP from services, industries and agriculture sector. Hungary is also a renowned tourist destination and tourism is a great source of income in services sector.
After Hungary joined European Union (EU) in 2004, it eased the way for Hungarian workers looking for opportunities in other countries. This also increased the foreign remittances to Hungary. In 2013, the ratio of foreign remittances to GDP saw a significant gain and reached 3.2 %. The ratio is growing every year to make it clear that remittances from Hungarian expats are playing a good role in country’s economic growth.
Hungary received remittances worth over $ 4 billion in 2015. Germany, US and UK sent maximum amount of this. If you want to transfer money to Hungary, you can choose from multiple currencies available i.e. Hungarian Forint (HUF), Euro (EUR), US Dollar (USD) or Guyana Dol
Current Exchange Rate(Mid Market) :- 278.52 HUF/USD
is a currency exchange rate. Usually traders in currency exchange market have two exchange rates -
- Selling exchange rate - at which sellers are willing to sell a particular currency and
- Buying exchange rate - at which buyers are willing to buy a particular currency.
Mid-market rate is the mid-point of these two rates. This is the most transparent and the most accurate exchange rate. It is also known as “Interbank Rate” or “Spot Rate” or “Real Exchange Rate”. This is the rate which independent sources like Reuter, Google etc show.