Hungary's Act CXXXIX of 2013 gives Magyar Nemzeti Bank exclusive competence to issue forint notes and coins and makes them legal tender. Article 4 links this issuance task to the central bank, defining the legal authority behind the national-currency cash used in Hungarian payments.
TL;DR:
- MNB alone issues forint notes and coins, which are legal tender.
- The Act establishes the public mandate behind currency creation and management.
- Current issues, notices and amendments supplement the historical English translation.
Summary
Forint currency and the MNB
Act CXXXIX of 2013 establishes the Magyar Nemzeti Bank’s legal position and central-bank tasks. Article 4(2) entitles the MNB to issue notes and coins in Hungary’s official currency and makes those issues legal tender. The provision connects Hungarian cash with the institution responsible for issuing it. It should not be confused with the commercial bank through which a user receives the notes or coins.
An exclusive public competence
Article 4(12) makes the issuance task an exclusive MNB competence. The distinction is between creating the official currency and distributing or using it in the economy. A private payment claim denominated in forints does not become MNB-issued money solely because it uses the same unit. That is important when comparing physical cash with deposits, electronic-money balances and payment instructions between providers. The Act expressly includes commemorative notes and coins in its statement of MNB-issued legal tender, subject to the applicable statutory framework.
Issues and their continued treatment
The legal-tender principle operates alongside detailed currency rules and MNB information on banknotes and coins. Design, denomination, withdrawal and exchange arrangements can change over time while the statutory central-bank mandate remains. A payment or cash-handling assessment therefore needs the relevant issue and current notices, rather than assuming that every historic forint note or coin retains the same treatment indefinitely.
Currency mandate and payment services
The currency provisions sit alongside the MNB Act’s broader central-bank and supervisory functions. Payment-provider establishment and payment-service conduct are governed by additional Hungarian acts and implementing measures. The linked English translation has a stated historical effective date, so it is evidence for the provision’s structure rather than a guarantee of a current consolidation. Current Hungarian text and MNB currency guidance remain necessary for detailed legal conclusions.
Keywords
- Hungarian forint
- MNB Act
- exclusive issuance
- legal tender
- banknote production
- coin circulation
- cash management
- Article 4
- currency notices
- statutory amendments