Economy of Hungary inflation rates of below, but close to 2% over the medium term". Since Hungary is in the process of catching up (Balassa-Samuelson effect), the long-term objective is a slightly higher figure, around 2.3-3.2%. Therefore, the medium term inflation target of the Hungarian National Bank is 3%. Concerning the exchange rate system, the floating exchange rate system is in use since 26 February 2008, as a result of which HUF is fluctuating in accordance with the effects of the market in the face of the reference currency, the euro. The chart on the right shows forint exchange rates for the British
Mill (currency) Mill (currency) The mill or (₥) (sometimes mil in the UK, when discussing property taxes in the United States, or previously in Cyprus and Malta) is a now-abstract unit of currency used sometimes in accounting. In the United States, it is a notional unit equivalent to of a United States dollar (a one-hundredth of a dime or a tenth of a cent). In the United Kingdom it was proposed during the decades of discussion on the decimalization of the pound as a division of the pound sterling. Several other currencies used the mill, such as the Maltese lira. The term