HUF to LRD

HUF - Hungarian Forint (Ft)

The Hungarian forint is the official currency of Hungary, and has been in circulation since 1946. The code for the forint is HUF and the symbol is Ft. Its conversion factor has 6 significant digits, and it is a fiat currency.

The Forint is the official currency of Hungary, and is issued by the Hungarian National Bank. The modern Forint was introduced in 1946, after the second world war. The Forint was subdivided into 100 fillér, but fillér coins are no longer in circulation. The long-term goal of the Hungarian government is to replace the Forint with the Euro, although this transition has been delayed due to current economic issues.

The Hungarian Forint is the currency in Hungary (HU, HUN). The symbol for HUF can be written Ft. The exchange rate for the Hungarian Forint was last updated on January 18, 2019 from The International Monetary Fund. The HUF conversion factor has 6 significant digits.

Economy

• Hungary has made a successful shift to a market economy after the first multi-party elections were held in 1990. Before the fall of the Communist regime in 1989, its economy was centrally planned.
• Since 1990, foreign ownership and foreign investment have become commonplace, and Hungary receives about a third of the foreign investment flowing into the Central European area.
• Production in Hungary has shifted from lower-value textiles and food products to higher-value sectors such as luxury vehicle production, renewable energy, tourism, and information technology. Over 60% of Hungary’s exports are related to machinery and equipment.
• In recent years, Hungary has required financial assistance from world bodies such as the IMF and World Bank to service its large public debt. As one consequence, Hungary has delayed adopting the euro until 2020.

History

• The name Forint has its origin in coins minted in Florence in 1252, called Fiorino d’oro.
• Forint banknotes and fillér coins were introduced and circulated in August 1946, as a crucial step in the stabilization of the country after World War II.
• Inflation (especially during the late 1980s) made fillér coins irrelevant, and they were removed from circulation in 1996. Coins continue to be minted in Forint denominations.
• The Forint became fully convertible in 2001 after the high inflation of the 1990s when Hungary transitioned to a market economy.

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LRD - Liberian Dollar (L$)

Liberian Dollar

The Liberian Dollar has been the official currency of the Republic of Liberia since 1943. The Liberian currency includes coins and banknotes, which are issued by the Central Bank of Liberia. The symbol used is L$, to differentiate it from other Dollar currencies.

The Liberian Dollar is the currency in Liberia (LR, LBR). The symbol for LRD can be written $. The Liberian Dollar is divided into 100 cents. The exchange rate for the Liberian Dollar was last updated on May 24, 2019 from Yahoo Finance. The LRD conversion factor has 5 significant digits.

Economy

• Liberia’s economy is supported by free enterprise. They have a so-called Open Door Policy to persuade businesses and investors to participate profitably in their economy.
• Liberia is gifted with great natural resources tht provide prospective and outstanding market opportunities.
• The total Liberian economy has been improving; the real GDP growth reached 7 % in 2006, and its inflation is in single digits.
• The government has placed cash management controls, maintained a well-balanced budget, and restored transparency to their budget process.
• The unemployment rate in the formal sector reached 80%, with this there is a critical period of progression in the restoration of productive opportunities in livelihood.
• In the year 2005, Liberia had an external debt estimated at U$S7 billion, which is equivalent to 3,040% of their exports on an NPV basis.

History

• The Liberian Dollar was introduced in 1847.
• The Liberian currency was pegged at parity with the US Dollar and both were being used until 1907.
• From 1847 to 1896, copper 1 and 2 cent coins were the only Liberian coins being issued After that, 1, 2, 10, 25 and 50 cent coins were gradually introduced.
• Between 1857 and 1880, the Treasury Department issued banknotes of 1, 2, 3, 5, 10 Dollars and 10 and 50 cents.

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