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    Currency in Finland – Euro EUR

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

     

     

    Travelling to Finland

    According to the annual World Happiness Report 2018, Finland is the happiest country in the world. What better reason to visit a place than to meet its happy inhabitants in hope that some of it rubs off. Perhaps the happiness is due to the fabled merry inhabitant of Finnish Lapland, Santa, who shares the land which is also famed to be the best place to view the northern lights, or Aurora Borealis.

    Helsinki, Finland’s capital is one of the greenest cities in Europe, with the authorities targeting 2025 as the year that motor vehicle ownership will become obsolete boasting 2,400 miles of cycle lanes to show their commitment. With so few cars on the road, it’s no wonder that Finland is also considered to be one of the safest countries in the world.

    Although known for advancements in technology and progressive urban solutions, most Finns spend their free time in touch with Mother Nature. With almost 200 000 lakes and half a million summer cottages in the country, there’s a lot of room to retreat to the countryside and get away from it all. Hiking, trekking, Nordic walking and cross-country skiing are considered fun.

    What currency is used in Finland?

    The currency here is the Euro, Finns use less physical cash in their transactions than any other nation, but ATMs for cash withdrawal are fairly widespread and marked by the sign OTTO. Most major credit cards, including Visa, MasterCard and EuroCard can be used for payment in most shops and restaurants. Thanks to EU rules, withdrawing euro from a cash machine costs you the same anywhere in the EU as it does in your own country from a cash machine that does not belong to your bank.

    Getting around in Finland.

    Finland is as bicycle-friendly as any country you’ll find, with plenty of paths and few hills. Bikes can be taken on most trains, buses and ferries. Åland is particularly good for cycling. Helmets are recommended but no longer required by law. You can hire a bike in nearly every Finnish town. Most campgrounds and many urban hotels offer bikes for a small fee or for free, but these are made for cycling around town, not for ambitious road trips.

    Finish public transport is generally efficient, reliable and safe. There are many options for getting around including bus, tram, train, city bikes and ferries. Bus is the main form of long-distance transport in Finland, with a far more comprehensive network than the train system. Buses run on time and are rarely full.

    Lake boats were once important summer transport. These services are now largely kept on as cruises, and make a great, leisurely way to journey between towns. The most popular routes are Tampere–Hämeenlinna, Tampere–Virrat, Savonlinna–Kuopio and Lahti–Jyväskylä. Finland’s road network is excellent, although there are few motorways. When approaching a town or city, keskusta on signs indicates the town centre. There are no road tolls but lots of speed cameras.

    Travellers planning a trip across the border to Russia must have a visa. It is advisable to get it at the Embassy of Russia in the traveller’s country of origin, because it takes at least eight weekdays to obtain a visa in Helsinki. Eighty percent of the water in Finland is classed as being exceptionally clean.

    Sending Money to Finland

    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 = 1.1314 USD
    Sell EUR  →  Buy USD
    EUR to USD at 1.1310 has fallen 2.2% below its 90-day average, range 1.1200-1.1883.
    |
      1 USD = 0.8839 EUR
     
    1-DAY+0.6%2d
    14-DAYHIGH3d

    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
    1.1287
    19 Nov 2021
    0.2% 2 Weeks
    1.1884
    04 Sep 2021
    4.8% 90 Days
    1.2145
    03 Dec 2020
    6.9% 1 Year
    1.0545
    04 Dec 2016
    7.3% 5 Years
    1.3399
    06 Dec 2011
    15.6% 10 Years
    0.8900
    08 Dec 2001
    27.1% 20 Years
    EUR/USD change over periods to 03-Dec-2021

     

    EUR is also used in 32 other countries

     

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