Economy of Hungary account transactions, and subsequent to OECD membership in 1996, for almost all capital account transactions as well. Since 1995, Hungary has pegged the forint against a basket of currencies (in which the U.S. dollar is 30%), and the central rate against the basket is devalued at a preannounced rate, originally set at 0.8% per month, the Forint is now an entirely free-floating currency. The government privatization program ended on schedule in 1998: 80% of GDP is now produced by the private sector, and foreign owners control 70% of financial institutions, 66% of industry, 90% of telecommunications, and 50% of the
Mene (unit) Mene (unit) The mĕnē (also mina, Aramaic) () is an ancient Mesopotamian unit of weight for gold or silver and one of the earliest written words for money. The mĕnē, like the shekel, was also a unit of currency. In ancient Greece, it originally equalled 70 drachmae and later was increased to 100 drachmae. The Greek word "mna" was borrowed from Semitic; compare Hebrew "māneh", Aramaic "mĕnē", Syriac "manyā", Ugaritic "mn", and Akkadian "manū". However, before it was used as currency, a mene was a unit of measurement, equal to 567 grams. One mĕnē of gold would be worth $23,000