Hungarian Conservative

During the regime change following the fall of the Iron Curtain, the Hungarian National Bank gradually sold almost all of the country’s gold reserve, which by 1992 fell to around three tonnes, with the proceeds from the sale of gold invested in foreign government bonds deemed safe and high-yielding. However, the promised returns were not realized.

The Hungarian currency, the forint celebrates its 77th birthday on 1 August. But in reality, the forint’s history can be traced back to as long ago as the 1320s.