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
Mace (unit) which is also a generic word for "money" in Mandarin Chinese. (The same Chinese character (kanji) was used for the Japanese "sen", the former unit equal to of a Japanese yen; the Korean "chŏn"(revised: jeon), the former unit equal to of a Korean won; and for the Vietnamese tiền, a currency used in late imperial Vietnam; although neither of these has ever been known as "mace" in English.) Mace (unit) A mace (; Hong Kong English usage: tsin; Southeast Asian English usage: chee) is a traditional Chinese measurement of weight in East Asia that was also used as a currency