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Foreign Exchange Guide to Greece

Country Code:
GR
Domestic Currency:
Euro
Currency Code:
€ EUR
Telephone Prefix:
+30

In this guide we review :

  1. Travelling in Greece - Practical tips
  2. Buying Euro Cash Online - Travel money for Greece
  3. Euro (EUR) - Currency Market News
  4. Sending Money to Greece - Save on Euro bank transfers
  5. Euro Exchange Rates - Latest info & charts.

Greece Travel Practical Tips

Although the news has been full of negative stories about the financial and immigrant crises which have engulfed Greece in recent years, there are still many reasons to visit this delightful country. From its stunning beaches and superb mountain scenery to great food, astounding history and, above all, it's warm Hellenic welcome. It is also a very affordable country to travel in. As one of the continent’s most popular destinations during the summer times, people from around the world  flock to its famous islands for the sun, and to the cities for the history.

Greece is known for its food. Restaurants will cost about 20 EUR for a nice dinner, even in the tourist area. If you add wine, expect to pay about 30 EUR. A meal at a very luxurious restaurant will begin at 30 EUR.

Because Greece has a lot of islands, you will be dealing with lots ferries and boats. Expect to spend an average of 36 EUR per a trip, though you could spend as little as 12 EUR if the islands are really close together. From Athens, most ferries to the islands costs around 60 EUR. Slow, overnight island ferries begin at 13 EUR. Buses and trains around the mainland are around 20 EUR. It’s 1.20 EUR for a single ride on the Athens train system. Many people go to Greece for the islands but the mainland has a great deal to offer, from the imposing Pindos mountain range in the north to the empty golden beaches of the western Peloponnese. It also boasts the greatest number of archaeological sites.Travelling between the main towns is easy on the comprehensive KTEL bus network, with local services radiating out to villages.You can also make use of the limited but extremely cheap national rail service for a number of key destinations. Greece is a cheap country and even cheaper when you get out of the touristy Greek islands or popular destinations. Head off the beaten path and you will usually see prices drop by 30% or more.

Eating is casual in Greece. Look for restaurants where the locals are eating, as the food will be much better. Just remember that Greeks eat late, often after 10pm. Always ask for local barrelled wine, which is cheaper than bottled, or try a fiery spirit such as ouzo or tsipouro. Likewise, don’t be fobbed off with bottled water, as what comes out of the tap is perfectly drinkable. Punctuality is not considered a big issue in Greece. There is a healthy Mediterranean belief that most things can be put off and nothing needs to be done in a hurry. So don’t expect service in a restaurant to be too snappy or transportation always to run like clockwork.

Travel Money for Greece - Buying Euro (EUR)

Save money and time by Ordering your Euro Online from Travelex, you get better rates and can pick up the EUR cash locally or even on travel day at the airport.

Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.

For card purchases if offered a choice of currencies always select to Pay in Euro otherwise you may get much worst exchange rates.


Greece Trip Checklist   

  1. Compare EUR Travel Cash Rates - probably why you are here!
  2. Hotel Deals - Save on your accomodation in Greece
  3. Travel Insurance - for those unexpected travel adventures...
  4. Lonely Planet - Travel Guide 3 for 2 offer

Euro (EUR) - Currency Market News

In mid-October, the euro was floating around 1.18 against the dollar, having pulled back from September’s long-term highs close to 1.21.

Against the British pound, the euro stood at 0.897. It had been as high as 0.9306 in August – a level that hadn’t been achieved since 2009.

Speculation surrounding the end of the ECB’s quantitative easing program has driven euro appreciation this year. For the first time since its introduction, the central bank will discuss tapering QE at its meeting on October 26th.

In September, Dutch bank ABN Amro predicted EUR/USD would rise to 1.3 by the end of 2018. As reasons for the pair’s climb, ABN cited “strong conviction” on future US dollar weakness and less stimulative ECB policy.

In September, HSBC cancelled its forecast for the euro to rise to parity with the pound. HSBC’s revised year-end forecast now places EUR/GBP at 0.893.

A divergence in the paths of monetary policy between the ECB and the Swiss National Bank will lead to EUR/CHF climbing to 1.18 in the medium term, from October's rate of 1.154, according to a prediction by Credit Agricole.

Bank of America Merrill Lynch go one further on EUR/CHF. The bank has a “minimum target” of 1.20 by the end of 2018. BAML says that EUR/CHF “looks cheap relative to its longer-term moving averages.”


Sending Money to Greece

When sending money to Greece it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :

  1. Open an account with a provider (id docs may be required)
  2. You specify the local or Euro amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. Once your funds are received by the provider the converted EUR amount will be transfered to the recipient account you specify in Greece.

You can save around 5% and maybe more - end result is more Euro deposited into the recipient bank account in Greece and less margins and fees kept by the banks!

Compare Transfer Exchange Rates to Greece


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