About 75 percent of old 2,000 forint banknotes and more than 80 percent of old 5,000 forint banknotes have been replaced with new bills, the National Bank of Hungary (MNB) said on Tuesday, a day after compulsory acceptance of the old bills ceased.
The new 2000 and 5000 forint banknotes were introduced in March 2017
The MNB, which is Hungary’s bank of issue, put the new 2,000 forint and 5,000 forint bills, with upgraded security features, into circulation in March. The old bills may still be exchanged, free of charge, at banks and post offices for a period of three years and at the central bank for 20 years. The central bank upgraded the security features on the 10,000 forint bill late in 2014 and followed suit with the 20,000 forint bill a year later.