Word: forint
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...primary goal of Fekete's tinkering is to establish a uniform rate of exchange for the forint, Hungary's monetary unit. Hungary, like all Eastern European countries, has traditionally had two rates of exchange, one for tourists and one for foreign trade. Fekete says that establishing a single value of the currency, which will be set primarily by world money markets, will make Hungarian businesses more efficient and profitable. Says he: "This will force our companies to work better. Marx never talked against profit but only who got the profit." The ultimate objective is to make the forint...
Hungary's festival pales by comparison with the old days, when Magyar aristocrats would spit on a 100-forint note (worth about $12.50), slap it on a gypsy's forehead, and demand passionate violin-playing until the spittle dried and the note fell off. But all things considered, it is gay enough. At Budapest's Press Ball last week, young men in stovepipe trousers and girls in daringly décolleté dresses performed a writhing twist that onlookers pointed to with a touch of pride as their own "dirty twist." For the monster masked balls that...
COMMUNIST CURRENCIES are plummeting because of satellite unrest. Hungary's forint, pegged officially at 12½, hit alltime low of less than 1? on Zurich and New York free markets, as refugees rushed to sell at any price. Russia's ruble, pegged officially at 25?, has dropped on U.S. free market to 7? v. 12½ one year...
When Budapesters first saw the bright, handsome new forints (introduced last August just as the pengo was inflated to 500,000,000,000,000,000 times its original value), they compared the coins with bald, homely Communist Boss Matyas Rakosi, who was advertised as the father of the forint, and cracked: "It must have had a beautiful mother...