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New HUF 1,000 note enters circulation on March 1

Hungaryʼs new HUF 1,000 banknote will enter circulation on March 1, the National Bank of Hungary (MNB) said on Wednesday.  The new banknote, upgraded with enhanced security features, became legal tender last summer, but did not enter into circulation to allow sufficient time to prepare for the switchover.

Old HUF 1000 banknotes that are currently in circulation and were issued before 2017 will remain in circulation until October 31. After this, the old banknotes will be exchanged to legal tender of the same denomination, free of charge in all banks and postal offices for a period of three years.

Following this, the MNB will continue to exchange the old HUF 1,000 bills at its retail cash office for another 20 years, until October 31, 2038.

The bill will continue to display a portrait of King Matthias Corvinus on its obverse side and the Hercules Fountain from the Castle of Visegrád on its reverse side, noted state news wire MTI.

The MNB upgraded the security features on the HUF 10,000 bill late in 2014 and followed suit with the HUF 20,000 bill a year later. New HUF 2,000 and HUF 5,000 bills entered circulation last spring.

More information and images of the new banknote are available on the MNB website.