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Czech Koruna

The koruna, or crown (sign: Kč; code: CZK, Czech: koruna česká), has been the currency of the Czech Republic since 1993. The koruna is one of the European Union's eight currencies, and the Czech Republic is legally bound to adopt the euro in the future. The official name in Czech is koruna česká (plural koruny české, though the zero-suffixed genitive plural form korun českých is used on banknotes and coins of value 5 Kč or higher). The ISO 4217 code is CZK and the local acronym is Kč, which is placed after the numeric value (e.g., "50 Kč") or sometimes before it (as is seen on the 10-koruna coin). One crown is made up of 100 hellers (abbreviated as "h", official name in Czech: singular: haléř, nominative plural: haléře, genitive plural: haléřů – used with numbers higher or equal to 5 – e.g. 3 haléře, 8 haléřů), but hellers have now been withdrawn from circulation, and the smallest unit of physical currency is 1 Kč.

Hungarian Forint

The forint (Hungarian pronunciation: [ˈforint] , sign Ft; code HUF) is the currency of Hungary. It was formerly divided into 100 fillér, but fillér coins are no longer in circulation. The introduction of the forint on 1 August 1946 was a crucial step in the post-World War II stabilisation of the Hungarian economy, and the currency remained relatively stable until the 1980s. Transition to a market economy in the early 1990s adversely affected the value of the forint; inflation peaked at 35% in 1991. Between 2001 and 2022, inflation was in single digits, and the forint has been declared fully convertible. In May 2022, inflation reached 10.7% amid the Russian invasion of Ukraine and economic uncertainty. As a member of the European Union, the long-term aim of the Hungarian government may be to replace the forint with the euro, although under the current government there is no target date for adopting the euro.