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    Currency in Estonia – Euro EUR

    A practical foreign exchange and currency guide on sending money and travel to Estonia

     

     

    Travelling to Estonia

    Travelling to the coastal country of Estonia in North Eastern Europe is simple and quick as its well connected by air, ferry, coach and rail with Scandinavia, Russia, Eastern and Central Europe. it’s also a member of the Schengen area which means you do not need an additional visa if you are travelling from a fellow Schengen member country. In addition, Australians, Canadians, Americans, EU and and EEA nationals amongst more countries do not require visas. The official language is Estonian, with English also being widely spoken. There is free wifi everywhere in this tech savvy country including on buses and trains so staying connected and arranging your travel itinerary should be a breeze. Since joining the eurozone in 2004, the local currency has been the Euro and ATMs and credit cards are widely available and accepted. There are many little known cool facts about Estonia which make it a wonderful place to visit such as: Estonia’s capital, Tallinn, is a UNESCO world heritage capital city and considered to be the best preserved medieval city in Northern Europe; 50% of Estonia is forest inhabited by lynxes, brown bears, wolves, foxes, rabbits and deer; it’s also one of the least densely populated countries in Europe, making it a great option for a city break destination if you’re looking for some good quality solitude, rest and relaxation.

    Sending Money to Estonia

    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.

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    Euro – Markets & Rates

    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.

     

    1 EUR = 1.1295 USD
    Sell EUR  →  Buy USD
    EUR to USD at 1.1294 has fallen 2.4% below its 90-day average, range 1.1200-1.1883.
    |
      1 USD = 0.8854 EUR
     
    1-DAY+0.6%1d
    14-DAYHIGH2d

    Euro Forecast and Trend

    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

    Historic EUR-USD Rates

    EUR/USD wasChangePeriod
    1.1368
    18 Nov 2021
    0.6% 2 Weeks
    1.1879
    03 Sep 2021
    4.9% 90 Days
    1.2114
    02 Dec 2020
    6.7% 1 Year
    1.0667
    03 Dec 2016
    5.9% 5 Years
    1.3425
    05 Dec 2011
    15.8% 10 Years
    0.8901
    07 Dec 2001
    27% 20 Years
    EUR/USD change over periods to 02-Dec-2021

     

    The Euro is also the domestic currency in 32 other countries.

     

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