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Established in 1924 following the Austro-Hungarian Bank, with backing from the League of Nations' Economic and Financial Organization, the Magyar Nemzeti Bank, a member of the European System of Central Banks (ESCB), places a strong emphasis on international relations. It actively collaborates with global economic and financial institutions like the EU, IMF, OECD, and BIS. Its core objectives include ensuring price stability, managing the issuance of the Hungarian forint, regulating money supply, setting the Central Bank base rate, publishing official exchange rates, and overseeing foreign-exchange reserves and gold to influence exchange rates.
Originating from a stabilization loan facilitated by the League of Nations in 1923-1924, modeled after Austria's successful precedent a year prior, the Magyar Nemzeti Bank introduced the Hungarian pengő in 1927 to replace the korona.
During World War II and its immediate aftermath, the Magyar Nemzeti Bank struggled to maintain the value of the pengő, leading to the world's most severe hyperinflation episode in 1945-1946. Consequently, the bank introduced a new currency, the Hungarian forint, on August 1, 1946, and was subsequently nationalized by the end of 1947.
Obverse
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Depicts the inscription "The 50th anniversary of the National Bank of Hungary" surrounded by various symbols of industry, agriculture, science, transport and education to illustrate the bank's role in development. The engraver's initials (CSV) below. 50 éves a Magyar Nemzeti Bank |
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Reverse
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Depicts the denomination in the center, below the country name (Hungarian People's Republic), the coat of arms and the engraver's initials (GJ) on the top left, the mintmark (BP) and the issue year on the middle right. Magyar Népköztársaság |
Edge |
100 Forint
People's Republic
KM# 603 Unger# 1621 Huszar# 2384 Adamo# EM45
Related coins
50th Anniversary of the Foundation of the Magyar Nemzeti Bank