The new HUF 500 notes will enter circulation today, on February 1, with a revamped design and extra security features, according to a press release on the National Bank of Hungaryʼs official website mnb.hu.
The bill features Hungarian historical figure Ferenc Rákóczi II on one side, and the Castle of Sárospatak on the other.
The new notes are expected to become widespread in a few months, MNB says. The old HUF 500 notes can still be used for payment until October 31, the central bank said.
Even after that date, when the old nots are no longer legal tender, they can still be swapped for new notes for another three years at every bank and post office, and for 20 years at MNBʼs household office.
In the press release the national bank also called on the providers of parking meters, as well as ticket, food, and beverage machines to prepare for the new notes to make the transition smoother.