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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.
Engraver: Andrea Horváth
Obverse
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Depicts a gold-plated inlay, the logo of the Magyar Nemzeti Bank. Above the logo is a decorative element from the 1924 MNB share, featuring the inscription "100 YEARS OF A," integrated with the logo. To the right of the logo, a bank card symbolizes electronic transactions, followed clockwise by a gold bar representing the gold reserves that ensure sovereignty. The motif series continues with depictions of the current 100 Forint coin, the 10 Forint coin from 1971-1987, and the 1 Forint coin issued in 1946, highlighting the MNB's role as the guardian of a stable financial system and national currency issuer. On the left edge, within the depiction of the 10 Forint coin, is the engraver's privy mark (H). 100 |
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Reverse
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Depicts the flag of Hungary with heraldic stripes. In the central field, bordered by a contour line, is an illustration based on the Fibonacci spiral with a background composed of squares of varying sizes. In the top left square, "MNB" and "1924," the year the Magyar Nemzeti Bank was established, are written in two rows. In the square on the right side, "2024," the year of issue, and the mint mark "BP." are written in two rows in the top right, while the denomination and "FORINT" are placed in the bottom left. Diagonally between them, following the curve of the spiral, is the inscription "HUNGARY." Along the edge, the upper circular inscription reads "STABILITY • DEVELOPMENT • VALUE CREATION," while the lower circular inscription reads "SUSTAINABILITY • INDEPENDENCE." STABILITÁS • FEJLŐDÉS • ÉRTÉKTEREMTÉS |
Edge |
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100th Anniversary of the Foundation of the Magyar Nemzeti Bank
100th Anniversary of the Foundation of the Magyar Nemzeti Bank