Hungarian forint Hungarian forint The forint (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. Since 2001, inflation is in single digits, and the forint has been declared fully convertible. As a member
Local administrative unit Local administrative unit Generally, a local administrative unit (LAU) is a low level administrative division of a country, ranked below a province, region, or state. Not all countries describe their locally governed areas this way, but it can be descriptively applied anywhere to refer to counties, municipalities, etc. In the European Union, LAUs are basic components of Classification of Territorial Units for Statistics (NUTS) regions. For each EU member country, two levels of Local Administrative Units (LAU) are defined: LAU 1 and LAU 2, which were previously called NUTS 4 and NUTS 5 respectively, until the NUTS regulation went into