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
Unit of account Unit of account In economics, unit of account is one of the functions of money. The value of something is measured in a specific currency. This allows different things to compared against each other; for example, goods, services, assets, liabilities, labor, income, expenses. It lends meaning to profits, losses, liability, or assets. A unit of account in financial accounting refers to the words that are used to describe the specific assets and liabilities that are reported in financial statements rather than the units used to measure them. Unit of account and unit of measure are sometimes treated as synonyms in