Hungary's new 500 forint banknote (EUR 1.6), upgraded with enhanced security features, will enter circulation on Feb. 1, the National Bank of Hungary (NBH) said.
The old 500 forint bills will be withdrawn from circulation on November 1, 2019, but may still be exchanged, free of charge, at banks and post offices for a period of three years, and at the central bank for twenty years.
The bill will continue to display a portrait of Ferenc Rakóczi II, a Hungarian nobleman who led an uprising against the Habsburgs, on its obverse side and the Castle of Sárospatak on its reverse side.
The 500 forint banknote is the last bill to be upgraded in the framework of a programme launched by the NBH in 2014.
