New 500 Forint Launched
- 4 Jul 2018 10:01 AM
- Hungary Matters
The new 500 forint bills will become legal currency from July 4, but will not come into broad circulation until February 1, 2019.
MTI Photo: Bruzák Noémi
The new 500 forint bills will become legal currency from July 4, but will not come into broad circulation until February 1, 2019.
MTI Photo: Bruzák Noémi
The National Bank of Hungary (NBH) has issued an executive circular instructing banks to inform retail clients on cheaper account packages by the end of January, in line with an agreement signed with the Hungarian Banking Association.
The Hungarian Banking Association voiced its "firm opposition" to draft legislation that would raise the amount of cash retail clients may withdraw free of charge from ATMs in a statement on Friday.
A fixed 3 percent interest rate loan scheme with a maximum value of 150 million forints will be launched for Hungarian small and medium-sized enterprises from October 6, Prime Minister Viktor Orbán said.
The National Bank of Hungary (NBH) acknowledged a moderation of inflation in recent months compared to levels early in the year, but said CPI was expected to stay above the 2pc-4pc tolerance band for the rest of the year in a report.
LATEST NEWS IN specials