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Austria - Euro - Currency Guide

 

Foreign exchange guide to Austria and the Euro (EUR)

   

General Currency Info - Euro

The euro (ISO: EUR) is involved in slightly more than 30% of all foreign exchange deals, and as such, is the world’s second most traded currency, behind the US dollar.

The euro is the currency of the eurozone (officially called the ‘euro area’), which consists of 19 of the 28 member states of the European Union, and is used by almost 350 million Europeans. It was introduced in January 1999.

Of all the thousands of exchange rates that exist in the world, the euro-to-US dollar exchange rate is the most actively traded, or most ‘liquid’.

Since its introduction, the euro’s lowest value against the dollar came in October 2000 when EUR/USD hit lows of 0.8231. The currency was strongest in July 2008, shortly before the worst stage of the 2007-2009 financial crisis, when EUR/USD reached 1.6038.

There are currently more than twenty nations and territories which peg their currencies to the euro, the largest of which is Denmark.

   

EUR News, Forecasts and Trends

EUR will fall to 0.80 against the British pound according to Standard Bank. The coronavirus pandemic has replaced Brexit in the headlines and means that the deadline for a trade deal with the Eurozone this year could either be pushed back, delaying a risk for the currency, or see more favorable terms given to the U.K.

Rabobank told Bloomberg TV in early April that they see the Euro holding its value in an otherwise difficult virus affected year for most currencies.

The Euro spent 2019 on a downwards trajectory, starting the year with highs at US1.1550 but then slid all year until October where it bottomed out at US$1.09 on Oct 1, close to long-term lows. Since then it has climbed back up towards the average rate for the year of US1.12, perhaps due to the less uncertainty around Brexit.

For more EUR currency market forecasts you can read the full article Euro Forecasts. The below interactive chart shows the USD to EUR exchange rate, trend and recent alerts for the last 90 days.

   
Recent USD to EUR 90-day trend
 
ALERTS:1-DAY0.6% | 14-DAY LOWS |
USD/EUR at 0.8839 was trading 2.6% below AVG:0.9076 with LO:0.8791 and HI:0.9346 (90 days). ALERTS: Today USD/EUR was DOWN 0.6% and also dropped to 14-DAY LOWS.

US Dollar to Euro - Historical Rates

USD/EUR historic rateChange to 03-JulPeriod
0.8914  26 Jun 20200.2% ▼1 Week
0.8901  03 Jun 20200.1% ▼30 Days
0.9255  04 Apr 20203.9% ▼90 Days
0.8862  04 Jul 20190.3% ▲1 Year
0.9075  05 Jul 20152% ▼5 Years
0.7923  06 Jul 201012.2% ▲10 Years
USD/EUR 10 year historic rates & changes to 03-Jul-2020 : 0.8893
 

U$1,000 USD
=
€884.46 EUR

Converted at USD/EUR wholesale exchange rate, compare foreign transfer and spend/travel exchange rates.

 
 

US Dollar to Euro - Quick Conversions

USD EUR
U$ 1 0.8845
U$ 5 4.4225
U$ 10 8.8450
U$ 20 17.69
U$ 50 44.23
U$ 100 88.45
U$ 250 221.13
U$ 500 442.25
U$ 1,000 884.50
U$ 2,000 1,769
U$ 5,000 4,423
U$ 10,000 8,845
U$ 50,000 44,225
U$ 100,000 88,450
More amounts
USD EUR
U$ 1.1306 € 1
U$ 5.6530 € 5
U$ 11.31 € 10
U$ 22.61 € 20
U$ 56.53 € 50
U$ 113.06 € 100
U$ 282.65 € 250
U$ 565.30 € 500
U$ 1,131 € 1,000
U$ 2,261 € 2,000
U$ 5,653 € 5,000
U$ 11,306 € 10,000
U$ 56,530 € 50,000
U$ 113,060 € 100,000
More amounts

Frequently Asked Questions

 

What currency should I use in Austria?

The domestic currency in Austria is the Euro.

What is the Euro currency code and symbol?

The three letter currency code for the Euro is EUR — symbol is .

Which countries use the Euro?

It is the domestic currency in    Eurozone,   Aaland Islands,   Andorra,   Austria,   Belgium,   Cyprus,   Estonia,   Finland,   France,   French Guinea,   French Southern Territories,   Germany,   Greece,   Guadeloupe,   Vatican City,   Ireland,   Italy,   Luxembourg,   Malta,   Martinique,   Mayotte,   Monaco,   Montenegro,   Netherlands,   Portugal,   Reunion,   Saint Barthélemy,   Saint Martin,   Saint Pierre and Miquelon,   San Marino,   Slovakia,   Slovenia and Spain.

Is the Euro a closed currency?

No, the Euro is freely available and convertible. See guide: What is a closed currency?

 

Travel, Currency and Money saving tips for Austria

Small, landlocked Austria offers alpine scenery, world-class museums, cobbled quaintness, and Wiener schnitzel. Austria is content to bask in its good living and elegant, opulent past as the former head of one of Europe's grandest empires. Austrians tend to be relaxed, gregarious people who love the outdoors as much as a good cup of coffee in a café.The capital city of Austria is Vienna has a population of around 1.7 million and is rich with swirling architecture and world-class museums; impressive Habsburg sights . Austria has a very high standard of living and is one of the richest countries in the world.

Travel tips for Austria?

The majority of the population speak local Bavarian dialects of German as their native language, and Austrian German in its standard form is the country's official language. Most Austrians speak basic English as it is taught in school. But that is not to say that you shouldn’t put in a little effort to learn some basic words in German, such as Thank You (Danke), Please (Bitte) or Hello (Hallo! / Grüss Gott).

Getting around Austria is not a problem as the local transport infrastructure is very good and inexpensive. Austrians really take their day of rest seriously and the majority of businesses are closed on Sundays. Austria is located in the Alps and is a largely mountainous country. For skiers Austria now represents better value for money than the French Alps, everything from basic holiday costs to lift pass, ski school, eating out and partying usually costs less. Austrians strictly observe traffic regulations which means no jaywalking even if there are no cars in sight. Follow the traffic regulations or you might end up paying a pretty hefty fine if a cop sees you.

Are credit cards widely accepted in Austria?

Visa and MasterCard (EuroCard) are accepted a little more widely than American Express (Amex) and Diners Club, although a surprising number of shops and restaurants refuse to accept any credit cards at all. Upmarket shops, hotels and restaurants will accept cards, though. Train tickets can be bought by credit card in main stations. Credit cards allow you to get cash advances on ATMs and over-the-counter at most banks.

How do I get around Austria?

Flying within a country the size of Austria is rarely necessary. The main exception is to and from Innsbruck which is in the far west of Austria. Austrian Airlines (www.austrian.com) The national carrier offers several flights daily between Vienna and Graz, Innsbruck, Klagenfurt, Linz and Salzburg.

Rail routes are often complemented by Postbus services, which really come into their own in the more inaccessible mountainous regions. Buses are fairly reliable, and usually depart from outside train stations. In remote regions plan a day or two ahead and travel on a weekday; services are reduced or nonexistent on Saturday, and often nonexistent on Sunday. Pay attention to timetables on school buses in remote regions.

Austria’s local transport infrastructure is excellent, inexpensive and safe.

Buses & Trams Bus services operate in most cities and are complemented by a few night-bus lines. Tram and bus services in most places run from about 5am to 11pm or midnight. You usually need to press the stop-request button, even in trams. Metro In Vienna, the metro runs all night on Friday and Saturday nights. From Sunday night to Thursday night it stops around midnight or 12.30am. No other towns have metro systems.

The Danube cycling trail is like a Holy Grail for cyclists, following the entire length of the river in Austria between the borders with Germany and Slovakia. The Tauern Radweg is a 310 km trail through the mountain landscapes of Hohe Tauern National Park.

 

Travel money for Austria

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.

 
 

USD to EUR - Spend & Travel

Provider ReviewAmount EUR(€)Exchange RateFee USDDeal Links
TransferWise
> Best Overall
866.50
1.99%
0.8797U$15.00
U.S. Bank logo
U.S. Bank
827.60
6.39%
€39 less
0.82760
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
819.33
7.33%
€47 less
0.827615
Wells Fargo Bank logo
Wells Fargo Bank
811.05
8.26%
€55 less
0.8276U$20
Travelex Online
805.00
8.95%
0.8050^
TransferWise
 
loading
TransferWise: Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:U$15.00 USD (1.5%)
Exchange Rate:0.8797 (-0.5% from mid-rate)
To Amount (EUR)866.50
Total Cost:1.99%
Time:19:29 Local
Currency Services:Multi-currency debit card with linked foreign bank accounts
Delivery/Collect:5-7 days
Rating:
 
: 4.6/5.0
Review:


U.S. Bank
 
loading
U.S. Bank: Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:0
Exchange Rate:0.8276 (-6.39% from mid-rate)
To Amount (EUR)827.60
Total Cost:6.39%
Time:19:29 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Review:


Banks - Average Rate
 
loading
Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:15
Exchange Rate:0.7736 (-12.5% from mid-rate)
To Amount (EUR)819.33
Total Cost:7.33%
Currency Services:Branch
Delivery/Collect:-


Wells Fargo Bank
 
loading
Wells Fargo Bank: Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:U$20 USD (Minimum fee)
Exchange Rate:0.8276 (-6.39% from mid-rate)
To Amount (EUR)811.05
Total Cost:8.26%
Time:19:29 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Review:


Travelex Online
 
loading
Travelex Online: Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:0.805 (-8.95% from mid-rate)
To Amount (EUR)805.00
Total Cost:8.95%
Time:
Rate Fetched: Mon Jul 06 2020 19:15:03 GMT+0000 (UTC)
Currency Services:FREE Home delivery & Branch pickup
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Review:


 
loading
Snapshot 07/06/2020 - View live rates

Sending money to Austria

When searching around for information on how to get a good exchange rate when sending money to Austria you need to start with finding out the latest Euro exchange rate for foreign-transfers, which can be very different to the wholesale rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save - we make that calculation easy in the below table.

 

USD to EUR International Money Transfers

Provider ReviewReceive EUR(€)Exchange RateFee USDDeal Links
OFX
> Best Overall
877.00
0.8%
0.8770^
XE
870.80
1.5%
0.87080
HSBC logo
HSBC
850.02
3.85%
€27 less
0.8513U$1.50
U.S. Bank logo
U.S. Bank
847.90
4.09%
€29 less
0.84790
Bank of America logo
Bank of America
835.18
5.53%
€42 less
0.8479U$15
Wells Fargo Bank logo
Wells Fargo Bank
835.16
5.54%
€42 less
0.8522U$20
Banks - Average Rate
U.S. Bank logo Bank of America logo HSBC logo Wells Fargo Bank logo
842.07
4.75%
€35 less
0.849815
OFX
 
loading
OFX: Foreign Transfer USD→EUR
From Amount (USD)U$1,000
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:0.8770 (0.8% from mid-rate)
To Amount (EUR)877.00
Total Cost:0.8%
Time:
Rate Fetched: 19:29 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Speak to Dealers, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Review:


Compare OFX Rates
XE
 
loading
XE: Foreign Transfer USD→EUR
From Amount (USD)U$1,000
Fee:
Exchange Rate:0.8708 (1.5% from mid-rate)
To Amount (EUR)870.80
Total Cost:1.5%
Time:19:29 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Speak to Dealers
Rating:
 
: 3.5/5.0
Review:


Compare XE Rates
HSBC
 
loading
HSBC: Foreign Transfer USD→EUR
From Amount (USD)U$1,000
Fee:U$1.50 USD (.15%)
Exchange Rate:0.8513 (3.71% from mid-rate)
To Amount (EUR)850.02
Total Cost:3.85%
Difference:
€27 EUR less than using OFX
Time:19:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Review:


Compare HSBC Rates
U.S. Bank
 
loading
U.S. Bank: Foreign Transfer USD→EUR
From Amount (USD)U$1,000
Fee:0
Exchange Rate:0.8479 (4.09% from mid-rate)
To Amount (EUR)847.90
Total Cost:4.09%
Difference:
€29 EUR less than using OFX
Time:19:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Review:


Compare U.S. Bank Rates
Bank of America
 
loading
Bank of America: Foreign Transfer USD→EUR
From Amount (USD)U$1,000
Fee:U$15 USD (Minimum fee)
Exchange Rate:0.8479 (4.09% from mid-rate)
To Amount (EUR)835.18
Total Cost:5.53%
Difference:
€42 EUR less than using OFX
Time:19:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Review:


Compare Bank of America Rates
Wells Fargo Bank
 
loading
Wells Fargo Bank: Foreign Transfer USD→EUR
From Amount (USD)U$1,000
Fee:U$20 USD (Minimum fee)
Exchange Rate:0.8522 (3.61% from mid-rate)
To Amount (EUR)835.16
Total Cost:5.54%
Difference:
€42 EUR less than using OFX
Time:19:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Review:


Compare Wells Fargo Bank Rates
Banks - Average Rate
 
loading
Foreign Transfer USD→EUR
From Amount (USD)U$1,000
Fee:15
Exchange Rate:0.8461 (4.3% from mid-rate)
To Amount (EUR)842.07
Total Cost:4.75%
Difference:
€35 EUR less than using OFX
Transfer Speed:
Services:


 
loading
Snapshot 07/06/2020 - View live rates

Get a better deal for foreign transfers to Austria

When sending money to Austria 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 4 simple steps :

  1. Open an account with a BER reviewed FX 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 Austria.

Use the above Send to Euro calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Euro deposited into the recipient bank account and less margins and fees kept by the banks!


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