This Monday, on the 100th anniversary of the founding of the National Bank of Hungary (MNB), the Hungarian Post Office (Magyar Posta) issued an occasional stamp to commemorate the centenary of the Bank.
One hundred years ago, on June 24, 1924, the independent Hungarian National Bank started its operations under the leadership of President Sándor Popovics, a turning point in the history of the country's independence, Csaba Kandrács, Vice President of the MNB, recalled at the stamp launch ceremony in Budapest.
He said that one of the important demands of the 12 points of the 1848 Hungarian revolution was the establishment of the National Bank, which "immediately after its foundation started to serve the nation with hard work, and just as today, the results of this work were soon visible." Among these, he said, were the stabilization of the then inflated paper koruna exchange rate by the summer of 1924 and the introduction of the pengő on January 1, 1927, which was initially valued at the same rate as the Swiss franc.
He stressed that the Bank was commemorating the anniversary of its creation with a year-long centenary celebration, targeting the entire population of the country, in addition to the financial community, with a special focus on the young generation. The aim of the series is to present the history of the central bank, its century-long mission and its responsibility in preserving the intellectual and material heritage of the Hungarian people, the Vice-President stressed.
He recalled that two million commemorative HUF 100 circulation coins and a commemorative silver and non-ferrous metal coin, each with a face value of HUF 50,000 and HUF 3,000, were issued a month ago as part of the series. April also saw the opening of the Money Museum's new exhibition, entitled The Financial Century, which will be open until the end of the year and will include all the banknotes and circulation coins issued in Hungary over the last 100 years.
In addition, a historical feature film on the founding of the MNB will be made, a new volume of a series of books on the history of the central bank will be launched this year and several international conferences will be organized.
The commemorative stamp, designed by graphic artist Ferenc Szabó, focuses on MNB's centenary logo and headquarters. The building, designed by Ignác Alpár in an eclectic and neo-Baroque style between 1902 and 1905, was originally intended to be the headquarters of the Austro-Hungarian Bank's Budapest branches, but the downtown Szabadság Square building has served as the MNB's headquarters since the establishment of the central bank and is currently under historical monument protection.


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