Forint real effective exchange rate
The forint's inflation-adjusted value against trading partners. The forint's inflation-adjusted real effective exchange rate against 42 trading partners (2015 = 100).
- Latest
- 116.4July 2026
- over one year
- +8.6%July 2025: 107.2
- Record high
- 124.8July 2008
- Record low
- 70.7December 1995
- Data since
- 199480.1
Forint real effective exchange rate
What has changed since the change of government?
The latest figure compared with the value when the new government took office – and, for comparison, how the indicator moved over the same length of time before the change. This is a short period: the indicators are also strongly driven by the world economy, earlier decisions and seasonal effects, so changes cannot be attributed to the new government alone.
About this indicator
The real effective exchange rate measures the forint's true value: it combines the nominal exchange rate with how fast Hungarian prices rise compared with trading partners. A rising index means real appreciation – Hungary becomes relatively more expensive.
The latest figure (July 2026) is 116.4, under the Magyar Péter government. The series goes back to 1994; the highest value was 124.8 (July 2008) and the lowest 70.7 (December 1995).
Source: Eurostat (ert_eff_ic_m) · Updated: 27 Oct 2026 21:41 UTC · Download data (CSV)
By government
The value when each government took office and when it left (or the latest figure), plus the average during the term.
| Government | At start | At end / now | Change | Average |
|---|---|---|---|---|
Magyar Péter (Tisza)Magyar · 2026–in office | 114.2 | 116.4 | +2.0% | 117.4 |
Orbán Viktor (Fidesz)Orbán II–V · 2010–2026 | 109.5 | 114.2 | +4.3% | 103.1 |
Bajnai Gordon (MSZP)Bajnai · 2009–2010 | 98.8 | 109.5 | +10.8% | 111.7 |
Gyurcsány Ferenc (MSZP)Gyurcsány · 2004–2009 | 105.8 | 98.8 | −6.6% | 107.7 |
Medgyessy Péter (MSZP)Medgyessy · 2002–2004 | 96.4 | 105.8 | +9.8% | 100.0 |
Orbán Viktor (Fidesz)Orbán I · 1998–2002 | 77.5 | 96.4 | +24.4% | 83.9 |
Horn Gyula (MSZP)Horn · 1994–1998 | 79.3 | 77.5 | −2.3% | 75.4 |
Boross Péter (MDF)Boross · 1993–1994 | 80.1* | 79.3 | −1.0% | 79.7 |
* The series starts during this term, so the starting value is the first available observation.
Data table · Year-end values
| Date | Value |
|---|---|
| July 2026 | 116.4 |
| December 2025 | 110.5 |
| December 2024 | 101.1 |
| December 2023 | 107.5 |
| December 2022 | 97.2 |
| December 2021 | 95.6 |
| December 2020 | 96.9 |
| December 2019 | 99.8 |
| December 2018 | 101.0 |
| December 2017 | 102.4 |
| December 2016 | 100.3 |
| December 2015 | 99.0 |
| December 2014 | 101.2 |
| December 2013 | 105.1 |
| December 2012 | 108.6 |
| December 2011 | 100.6 |
| December 2010 | 108.6 |
| December 2009 | 111.9 |
| December 2008 | 109.6 |
| December 2007 | 111.9 |
| December 2006 | 107.0 |
| December 2005 | 102.4 |
| December 2004 | 107.0 |
| December 2003 | 96.5 |
| December 2002 | 101.3 |
| December 2001 | 91.9 |
| December 2000 | 81.8 |
| December 1999 | 81.3 |
| December 1998 | 76.9 |
| December 1997 | 76.6 |
| December 1996 | 73.0 |
| December 1995 | 70.7 |
| December 1994 | 77.7 |