UYU to HUF

UYU - Uruguayan Peso ($)
HUF - Hungarian Forint (Ft)
1 UYU1 HUF

Currency conversion rates from UYU to HUF

UYUHUF
1 UYU1 HUF
5 UYU5 HUF
10 UYU10 HUF
20 UYU20 HUF
50 UYU50 HUF
100 UYU100 HUF
250 UYU250 HUF
500 UYU500 HUF
1000 UYU1000 HUF
2000 UYU2000 HUF
5000 UYU5000 HUF
10000 UYU10000 HUF
HUFUYU
1 HUF1 UYU
5 HUF5 UYU
10 HUF10 UYU
20 HUF20 UYU
50 HUF50 UYU
100 HUF100 UYU
250 HUF250 UYU
500 HUF500 UYU
1000 HUF1000 UYU
2000 HUF2000 UYU
5000 HUF5000 UYU
10000 HUF10000 UYU

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.

More information about HUF - Hungarian Forint (Ft)


UYU - Uruguayan Peso ($U)

Uruguayan Peso

The Uruguayan Peso is the official currency of Uruguay. The name has been in use since the European settlement. The present currency was adopted in 1993 and is subdivided into 100 centésimos.

The Uruguayan peso is the currency in Uruguay (UY, URY). The symbol for UYU can be written $U. The Uruguayan peso is divided into 100 centesimos. The exchange rate for the Uruguayan peso was last updated on May 22, 2019 from The International Monetary Fund. The UYU conversion factor has 6 significant digits.

Economy

  • The economy of Uruguay is characterized by an export-oriented agricultural sector, a well-educated work force, and high levels of social spending.
  • In 1603, cattle were introduced in Uruguay before its independence by Hernando Arias de Saveedra, the Spanish Governor of Buenos Aires. In 2006, beef accounted for about 37% of Uruguayan exports.
  • Wool is a traditional product exported mainly to America, followed by the UK and India.
  • Conaprole, the National Cooperative of Milk Producers, was the main exporter of dairy products in Latin America in 2006.
  • Fine varieties of rice are produced in the eastern lowlands, close to Merin lake on the Uruguay-Brazil border.

History

  • In 1828, Uruguay's currency was based on the silver Peso of eight reales, commonly known as the Patacon, and the gold onza de oro, valued at 16 pesos silver. A large quantity of debased copper coin also circulated.
  • In October, 1828, lacking the means to implement a national coinage, Gen. Jose Rondeau’s provisional government permitted foreign silver and gold coin to circulate freely at their intrinsic value, but restricted and later (1829) prohibited the importing of copper coins and the circulation of Buenos Aires banknotes.
  • A key characteristic of the currency is its instability, which increased in the spring of 2002.
  • Uruguayans have become accustomed to the constant devaluation and instability of their currency, and have developed a fitting lingo – calling periods of Dollar appreciation atraso cambiario ("the exchange rate is running late").

More information about UYU - Uruguayan Peso ($U)