Foreign exchange guide to Finland and the Euro
What's in this Finland currency guide?
The official currency of Finland (country code: FI) is the Euro, with symbol € and currency code EUR.
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.
The Euro is issued in banknotes of €5, €10, €20, €50, €100, €200, and €500, and in coins of 1 cent, 2 cents, 5 cents, 10 cents, 20 cents, 50 cents, €1, and €2.
The banknotes feature images of historical and cultural figures from across the European Union, while the coins depict each member country's unique design. The design of the Euro banknotes and coins is intended to be easily identifiable and difficult to counterfeit.
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.
Finland is a country located in Northern Europe, known for its beautiful natural landscapes, vibrant culture and modern technology. It is a popular destination for tourists and expats alike, with its clean and safe environment, high-quality healthcare system and excellent education.
For tourists, Finland offers many natural attractions such as the iconic Northern Lights, as well as the many lakes and forests that are perfect for outdoor activities like hiking, skiing and snowmobiling. The country is also known for its distinctive culture, with traditional saunas, the famous Midsummer festival, and the Santa Claus Village in Rovaniemi.
The domestic currency in Finland is the Euro.
The three letter currency code for the Euro is EUR — symbol is €.
It is the domestic currency in   Eurozone, Aaland Islands, Andorra, Austria, Belgium, Croatia, 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 Barthelemy, Saint Martin, Saint Pierre and Miquelon, San Marino, Slovakia, Slovenia and Spain.
No, the Euro is freely available and convertible. See guide: What is a closed currency?
|$ 1||€ 0.9196|
|$ 5||€ 4.5980|
|$ 10||€ 9.1960|
|$ 20||€ 18.39|
|$ 50||€ 45.98|
|$ 100||€ 91.96|
|$ 250||€ 229.90|
|$ 500||€ 459.80|
|$ 1,000||€ 919.60|
|$ 2,000||€ 1,839|
|$ 5,000||€ 4,598|
|$ 10,000||€ 9,196|
|$ 20,000||€ 18,392|
|$ 50,000||€ 45,980|
|$ 100,000||€ 91,960|
|$ 1.0874||€ 1|
|$ 5.4370||€ 5|
|$ 10.87||€ 10|
|$ 21.75||€ 20|
|$ 54.37||€ 50|
|$ 108.74||€ 100|
|$ 271.85||€ 250|
|$ 543.70||€ 500|
|$ 1,087||€ 1,000|
|$ 2,175||€ 2,000|
|$ 5,437||€ 5,000|
|$ 10,874||€ 10,000|
|$ 21,748||€ 20,000|
|$ 54,370||€ 50,000|
|$ 108,740||€ 100,000|
To get a good (and fair) exchange rate when sending money to Finland you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
When sending money to Finland 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 :
Use the above 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!
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
By following these tips and managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Finland.
Expats can find a good quality of life in Finland, with a high standard of living and a stable economy. The country is known for its progressive social policies, such as its universal healthcare system, and for its excellent education system. The Finnish society is also very multicultural, and expats can easily find communities of other foreigners. However, it's important to note that the official language is Finnish, and a good knowledge of it would be beneficial for finding a job or moving around.
Finland is a relatively safe country, with low crime rates and a stable political situation. However, the climate can be harsh in the winter, with long periods of darkness and cold temperatures. It's important to be prepared for the weather conditions before planning a trip or moving to Finland.
It's always important to do a research and seek for professional advices before planning a trip or moving to Finland.
Here we list some key points for expats and businesses to consider when managing financial dealings in Finland:
Understand Euro currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the EUR exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Euro bank account: A local EUR bank account can make it easier for you to manage your finances and pay bills while you are in Finland. It may also be more convenient to use a local EUR bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Finland. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Finland. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Finland, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.