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Eurozone - Euro - Currency Guide

 

Foreign exchange guide to the Eurozone 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 EUR to HKD exchange rate, trend and recent alerts for the last 90 days.

   
Recent EUR to HKD 90-day trend
 
1-DAY0.6% (1d) 14-DAY-HI (2d)
EUR/HKD at 8.7595 was trading 2.3% above AVG:8.5626 with LO:8.3532 and HI:8.816 (90 days). There are no current rate alerts.

Euro to Hong Kong Dollar - Historical Rates

EUR/HKD rateChangePeriod
03 Jul 2020 : 8.71670.5% ▲1 Week
10 Jun 2020 : 8.80960.6% ▼30 Days
11 Apr 2020 : 8.47803.3% ▲90 Days
11 Jul 2019 : 8.79970.5% ▼1 Year
12 Jul 2015 : 8.62661.5% ▲5 Years
13 Jul 2010 : 9.868011.2% ▼10 Years
EUR/HKD 10 year historic rates & changes to 10-Jul-2020 : 8.7595
 

HK$1,000 HKD
=
€114.17 EUR

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

 
 

Hong Kong Dollar to Euro - Quick Conversions

HKD EUR
HK$ 1 0.1142
HK$ 5 0.5710
HK$ 10 1.1420
HK$ 20 2.2840
HK$ 50 5.7100
HK$ 100 11.42
HK$ 250 28.55
HK$ 500 57.10
HK$ 1,000 114.20
HK$ 2,000 228.40
HK$ 5,000 571.00
HK$ 10,000 1,142
HK$ 50,000 5,710
HK$ 100,000 11,420
More amounts
HKD EUR
HK$ 8.7590 € 1
HK$ 43.80 € 5
HK$ 87.59 € 10
HK$ 175.18 € 20
HK$ 437.95 € 50
HK$ 875.90 € 100
HK$ 2,190 € 250
HK$ 4,380 € 500
HK$ 8,759 € 1,000
HK$ 17,518 € 2,000
HK$ 43,795 € 5,000
HK$ 87,590 € 10,000
HK$ 437,950 € 50,000
HK$ 875,900 € 100,000
More amounts

Frequently Asked Questions

 

What currency should I use in the Eurozone?

The domestic currency in the Eurozone 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 the Eurozone

No destination holds as much variety and cultural difference as Europe. From the sunny south to the snowy north there is no shortage of places to see here. When arriving at any new destination for first time visitors it cant hurt to stop by the Tourist Point to get any free maps, discounts, and cost free events. Most decent hotels have free WiFi so try using this to avoid any suprise Roaming fees on your phone when you get back home. ATM and credit card use varies greatly between countries so purchasing a Pre-paid Travel Card before leaving for your travels can save time and hassle.

If you would like to travel by train and can book a fare way in advance you can save money by getting a pass for Europe's extensive train system that goes pretty much everywhere. You can check prices at sites like RailEurope. To save a lot of travel time and money you can book a sleeper cabin on an overnight train. While travelling across Europe by bus used to be uncomfortable there are now low cost luxury buses available. And now to save even more time at your locations instead of travelling to them, costs for flights have greatly reduced in recent years making it a very affordable and very fast way to get around. Depends on your preference.

The Euro currency is widely used across most of Europe which makes it very convenient, so if you plan to spend most your travel time in Europe try to convert a chunk of currency before you go to get the best rates. It’s a little known fact that the closer you get to the departure gates in any country the worst the currency exchange rates get! In fact travellers can end up paying more than 10% extra if you load up on your overseas currency at airport bureau de change outlets.

If you end up buying your travel money on depature day without pre-ordering online you are most likely wasting some of your money.

 

Travel money for the Eurozone

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.

 

Sending money to the Eurozone

When searching around for information on how to get a good exchange rate when sending money to the Eurozone 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.


Get a better deal for foreign transfers to the Eurozone

When sending money to the Eurozone 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 the Eurozone.

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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