MNB: Upgrading the 1000 forint banknote

By user
In August 28, 2017

Source: The Magyar Nemzeti Bank (MNB)

Press Release 23 August 2017:

The Magyar Nemzeti Bank will continue its programme of upgrading Hungarian forint banknotes put in place in 2014. As part of the programme, the Bank will issue into circulation an upgraded 1000 forint note with new design elements and incorporating new security features.

Following past practice, the issue will take place in two steps. First, the new 1000 forint banknotes will become national legal tender from 24 August 2017. Second, building on the success of previous issuances, the Bank will allow a six-month preparatory period and provide technological assistance for participants of the currency supply chain, in particular for operators of banknote-accepting and processing machines, to get ready for the introduction of the new banknotes. The upgraded 1000 forint notes are expected to enter circulation from 1 March 2018.

The current 1000 forint banknotes will be accepted in payment in retail outlets until 31 October 2018. After that date, the notes will no longer have legal tender status and the Bank will withdraw them from circulation. Consequently, only the new, upgraded 1000 forint notes will be accepted for payment from 1 November 2018.

Images: MNB