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EUR/HUF history and ranges to 2030
Month-end rates for the last 10 years, then the historical range for each year-end to 2030 and the rate-gap path.
See the table →EUR/HUF Forecast 2026–2030
EUR/HUF is the number of forints one euro buys. A higher rate means a weaker forint. It was 362.99 on 9 November 2026. Below: what 27 years of ECB history and today's interest rates say about where it could be from 2027 to 2030. Ranges, not a price target.
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EUR/HUF outlook in brief
Today362.999 November 2026 · −5.8% in a year
End of 2027347.87 – 389.9668% historical range · middle 370.06
End of 2030360.75 – 422.0968% historical range · middle 391.92
Rate-gap path, 2030409.10MNB 5.5% vs ECB 2.5%, held
The forint has gained 6.2% of its value against the euro in the past year and lost 15.8% in ten years, while EUR/HUF itself moved +18.8% over the ten years (+1.7% a year). Since 1999 the euro has gained against the forint in 82% of stretches as long as today-to-2030. The MNB's rate is 3.00 points above the ECB's, which tilts the rate-gap path higher.
EUR/HUF at each year-end to 2030
Ranges from 27 years of ECB history, the rate-gap path with today's policy rates held.
| Year-end | 95% range | 68% range | Middle | Rate gap |
|---|---|---|---|---|
| 2026 | 348.69 – 380.75 | 355.62 – 371.70 | 363.60 | 364.48 |
| 2027 | 334.02 – 406.39 | 347.87 – 389.96 | 370.06 | 375.15 |
| 2028 | 334.66 – 413.77 | 354.87 – 400.32 | 375.54 | 386.16 |
| 2029 | 344.73 – 431.58 | 355.88 – 411.31 | 380.46 | 397.47 |
| 2030 | 342.19 – 440.47 | 360.75 – 422.09 | 391.92 | 409.10 |
Starting point 362.99 (9 November 2026). 6,073 overlapping windows for 2030. Magyar Nemzeti Bank publishes no survey of exchange rate expectations we could use.
EUR/HUF forecast by month, next 12 months
Month-end ranges from history, and the rate-gap path.
| Month-end | 68% range | Middle | Rate gap |
|---|---|---|---|
| Nov 2026 | 357.95 – 368.52 | 363.17 | 363.59 |
| Dec 2026 | 355.62 – 371.70 | 363.60 | 364.48 |
| Jan 2027 | 353.87 – 374.51 | 364.06 | 365.38 |
| Feb 2027 | 352.78 – 375.88 | 364.33 | 366.19 |
| Mar 2027 | 351.65 – 376.83 | 364.56 | 367.09 |
| Apr 2027 | 351.03 – 377.86 | 365.56 | 367.96 |
| May 2027 | 350.28 – 379.64 | 365.86 | 368.86 |
| Jun 2027 | 348.64 – 381.46 | 366.20 | 369.74 |
| Jul 2027 | 347.81 – 383.54 | 366.38 | 370.64 |
| Aug 2027 | 347.09 – 385.51 | 367.19 | 371.55 |
| Sep 2027 | 347.03 – 386.61 | 368.29 | 372.43 |
| Oct 2027 | 346.47 – 387.58 | 368.91 | 373.35 |
Will EUR/HUF reach these levels?
Share of past stretches of the same length in which EUR/HUF, starting from 362.99, would end at or above each level.
| Level | End of 2027 | End of 2030 |
|---|---|---|
| 360 | 69% | |
| 380 | 28% | |
| 400 | 8% | |
| 420 | under 5% | |
| 440 | under 5% |
History, not probability: a crisis or a policy change can take EUR/HUF outside every level here.
4 figures to quote
EUR/HUF was 362.99 on 9 November 2026, −5.8% on a year earlier, so the forint strengthened against the euro.
Source: ECB euro reference ratesIn 95% of all 6,073 past stretches of the same length since 1999, a move like history's would leave EUR/HUF between 342.19 and 440.47 at the end of 2030; the middle outcome is 391.92.
Source: FX Recap calculation on ECB data since 1999With today's policy rates held to 2030 (MNB 5.5%, ECB 2.5%), the rate-gap path puts EUR/HUF at 409.10 at the end of 2030. That is roughly where forward contracts price the pair, not a prediction.
Source: Magyar Nemzeti Bank; European Central Bank; FX Recap calculationEUR/HUF's highest ECB reference rate since 1999 was 430.65 on 13 October 2022; the lowest was 228.16 on 18 July 2008.
Source: ECB euro reference rates
How to read the three numbers
Historical range
Every stretch of the same length in the ECB's history since 1999, applied to today's 362.99. Two in three end 2030 between 360.75 and 422.09; nineteen in twenty between 342.19 and 440.47. A crisis or policy change can break the pattern.
Rate-gap path
The Magyar Nemzeti Bank's central bank base rate is 5.5% and the European Central Bank's is 2.5%, so the MNB pays 3.00 points more than the ECB. Forward contracts are priced so the extra interest is cancelled by the exchange rate: 409.10 by end-2030 if rates never change, which they will.
No survey
Magyar Nemzeti Bank does not publish economists' exchange rate expectations, so this page uses only the two calculated measures.
None of these is a signal to buy or sell. A leveraged position can lose more in a day than these ranges move in a month. Our position size calculator shows what a move costs at a given size, and the currency volatility index compares how far the forint moves each week with other currencies.
EUR/HUF history and records
ECB reference rates. A positive change means the forint weakened against the euro.
| Year | Year-end | Change |
|---|---|---|
| 2026 so far | 362.99 | −5.8% |
| 2025 | 385.15 | −6.4% |
| 2024 | 411.35 | +7.5% |
| 2023 | 382.80 | −4.5% |
| 2022 | 400.87 | +8.6% |
| 2021 | 369.19 | +1.5% |
| 2020 | 363.89 | +10.1% |
| 2019 | 330.53 | +3.0% |
| 2018 | 320.98 | +3.4% |
| 2017 | 310.33 | +0.2% |
| 2016 | 309.83 | −1.9% |
| Highest since 1999 | 430.65 13 Oct 2022 |
| Lowest since 1999 | 228.16 18 Jul 2008 |
| Last 5 years | 349.53 to 430.65 |
| Up years | 18 of 26 full years |
| Biggest yearly rises | 2011 +13.2% · 2003 +11.1% · 2020 +10.1% |
| Biggest yearly falls | 2001 −7.5% · 2012 −7.1% · 2025 −6.4% |
| Biggest 12-month rise | +20.4% 8 Jul 2008 – 8 Jul 2009 |
| Biggest 12-month fall | −15.7% 6 Mar 2009 – 5 Mar 2010 |
| Biggest one-day moves | +5.20% 15 Oct 2008 · −3.33% 28 Oct 2008 |
| Volatility | 8.3% last 12 months · 8.4% since 1999 |
| 5 and 10 years | +0.9% · +18.8% |
EUR/HUF seasonality: average move by month
Average month-end to month-end change since 1999, and how often EUR/HUF rose in that month. April has been the forint's best month on average, September its worst.
Jan+0.27%up 48% of years
Feb−0.17%up 50% of years
Mar+0.56%up 64% of years
Apr−0.61%up 43% of years
May−0.17%up 46% of years
Jun+0.51%up 61% of years
Jul−0.17%up 54% of years
Aug+0.49%up 68% of years
Sep+0.70%up 54% of years
Oct−0.05%up 39% of years
Nov+0.23%up 52% of years
Dec+0.07%up 52% of years
Small averages next to normal monthly swings: not a reliable trading pattern.
What could push EUR/HUF up or down
The MNB's rate
The Magyar Nemzeti Bank's base rate is well above the ECB's, which pays investors to hold forints. Cuts that narrow the gap have usually weakened the forint.
Inflation
Hungary has had some of the highest inflation in the EU in recent years, and a currency whose prices rise faster tends to lose value over time. That is the main reason EUR/HUF has drifted higher since 1999.
Relations with the EU
Disputes over frozen EU funds have moved the forint in the past, because the money matters for Hungary's budget and balance of payments.
Energy prices
Hungary imports most of its energy, so higher gas and oil prices widen the trade deficit and weigh on the forint.
| Central bank | Rate | Status |
|---|---|---|
| Magyar Nemzeti Bank | 5.5% (central bank base rate) | since 26 Aug 2026 |
| European Central Bank | 2.5% (deposit facility rate) | held 29 Oct 2026 |
Next rate decisions are on our economic calendar.
Method
| Rates | ECB euro reference rates, one per working day since 4 January 1999. |
| Ranges | For each target date, the log change over the same number of days from every start day in the history; 5th, 16th, 50th, 84th and 95th percentiles applied to today's rate. |
| Rate gap | Today's rate × ((1 + MNB rate) ÷ (1 + ECB rate)) ^ years. |
| Odds | Share of those windows ending at or above each level. |
| Updates | Monthly, and after each MNB or ECB decision. |
Source: ECB Data Portal, EXR.D.HUF.EUR.SP00.A.
Cite this page
Free to use with a credit and link (CC BY 4.0).
FX Recap, "EUR/HUF forecast 2026–2030", updated 9 November 2026, https://fxrecap.com/forex-news/currency-forecast/eur-huf
Jawad Bin GoniPR & Reporter, FX Recap[email protected]
EUR/HUF forecast: common questions
What will EUR/HUF be in 2030?
Nobody knows, and any single number for 2030 is a guess. What can be measured: if the next four years look like a typical four-year stretch since 1999, EUR/HUF would end 2030 between 360.75 and 422.09 two times in three, and between 342.19 and 440.47 19 times in 20. With today's policy rates held, the rate-gap path ends 2030 at 409.10.
What is the EUR/HUF forecast for 2027?
For the end of 2027 the historical range is 334.02 to 406.39 (95%), with a middle outcome of 370.06, and the rate-gap path is 375.15.
Will EUR/HUF reach 420?
In 18% of past stretches the length of today-to-2030, a move like history's would take EUR/HUF to 420 or higher by the end of 2030, starting from 362.99. By the end of 2027 the share is 0% or less. The table "Will it reach these levels?" shows the shares for other round numbers.
Could the forint get stronger from here?
It can, but on history it is the less common outcome. In 18% of past stretches the length of today-to-2030, EUR/HUF ended lower than it started, which would mean a stronger forint. EUR/HUF's lowest ECB reference rate since 1999 was 228.16 on 18 July 2008.
Will the forint get stronger or weaker?
Over the past 27 years the euro gained against the forint in 82% of all stretches the length of today-to-2030, on ECB data. Past patterns can break: a change in inflation, interest rates or politics can turn the trend. This page shows ranges, not a direction call.
Why does a higher interest rate in Hungary point to a weaker forint?
Forward prices have to balance the interest earned in each currency. If MNB rates are higher than ECB rates, the forward price of EUR/HUF sits above today's rate, otherwise a trader could borrow one currency, hold the other and lock in a riskless profit. That is why the rate-gap path rises over time. It is a pricing rule, not a forecast: high-yield currencies often hold up better than the path suggests.
Where do these figures come from?
Exchange rates are the ECB's euro reference rates. Policy rates come from the Magyar Nemzeti Bank and the European Central Bank. The ranges are FX Recap's own calculation, and every figure is in the free CSV.
How volatile is EUR/HUF?
Over the last 12 months EUR/HUF moved with an annualised volatility of 8.3% on daily ECB rates, against 8.4% over the whole history since 1999. Its largest one-day rise was +5.20% on 15 October 2008, and its largest one-day fall −3.33% on 28 October 2008.
Is there a best month for the forint?
On average since 1999, April has been the forint's best month against the euro (EUR/HUF −0.61% on average) and September its worst (+0.70%). The averages are small next to normal monthly swings, so they are not a reliable trading pattern.
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Risk warning. Forex and CFD trading carries a high risk of losing money rapidly due to leverage. Historical ranges, rate-gap paths and surveys do not predict future prices. This page is information, not financial advice.