A practical foreign exchange and currency guide on sending money and travel to Belgium
What's in this Belgium currency guide?
Belgium is considered a world leader in financial services and has the highest rate of card payments in the world. In some countries cheques have been phased out, but like in Ireland and France, they are still a common means of payment in Belgium. It is a small but densely populated country with a population of around 11 million.
Travel within Belgium is convenient as it has a well-developed road, air, rail and water networks that are easy to access. Due to its location between France and the Netherlands there are two main languages spoken in Belgium, Dutch and French. You can save a bit of money on getting around by buying a Metro pass, called a MOBIB Basic Card, which can charge up to 50% less than buying a one use ticket.
The below comparison table makes it easy to find the best exchange rates and lowest fees when you want to make a Transfer or Spend 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.
In September, Olaf Scholz’s Social Democrat Party narrowly won the German election. The longer negotiations and political uncertainty drag on, the greater downward pressure will be felt by the euro.
In addition should risk sentiment remain fragile, there could be continued demand for USD as a safe haven. Therefore, USD/EUR could gain higher.USD-EUR Outlook
18 Nov 2021
03 Sep 2021
02 Dec 2020
03 Dec 2016
05 Dec 2011
07 Dec 2001