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Germany - Euro - Currency Guide

 

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

   
Recent USD to EUR 90-day trend
 
ALERTS:4-DAY1.9% | 30-DAY LOWS |
USD/EUR at 0.9005 was trading 1.5% below AVG:0.9142 with LO:0.8739 and HI:0.9381 (90 days). ALERTS: USD/EUR was DOWN 1.9% this 4-DAY period and also dropped to 30-DAY LOWS.

US Dollar to Euro - Historical Rates

USD/EURPeriod to 29-MayDateRate
1.8% ▼1 Week22 May 20200.9174
2% ▼30 Days29 Apr 20200.9193
0.7% ▼90 Days29 Feb 20200.9068
0.2% ▲1 Year30 May 20190.8985
1.2% ▼5 Years31 May 20150.9113
10.1% ▲10 Years01 Jun 20100.8179
USD/EUR 10 year rates & changes to 29-May-2020 (0.9005)

US Dollar to Euro - Quick Conversions

USD EUR
U$ 1 0.9005
U$ 5 4.5025
U$ 10 9.0050
U$ 20 18.01
U$ 50 45.03
U$ 100 90.05
U$ 250 225.13
U$ 500 450.25
U$ 1,000 900.50
U$ 2,000 1,801
U$ 5,000 4,503
U$ 10,000 9,005
U$ 50,000 45,025
U$ 100,000 90,050
More amounts
USD EUR
U$ 1.1105 € 1
U$ 5.5525 € 5
U$ 11.11 € 10
U$ 22.21 € 20
U$ 55.53 € 50
U$ 111.05 € 100
U$ 277.63 € 250
U$ 555.25 € 500
U$ 1,111 € 1,000
U$ 2,221 € 2,000
U$ 5,553 € 5,000
U$ 11,105 € 10,000
U$ 55,525 € 50,000
U$ 111,050 € 100,000
More amounts

Frequently Asked Questions

 

What currency should I use in Germany?

The domestic currency in Germany 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 Germany

Accommodation and food are quite cheap in Germany compared the neighbouring countries. Interestingly, of the Eurozone countries, Germans top the list for keeping the most cash in their wallets. It is not uncommon in Germany for restaurants to only accept cash, so make sure you have some euros before visiting.

High speed transport by train (Deutsche Bahn) is expensive however, but is very fast and efficient. But if on a budget one can try using the much cheaper, and much slower trains. Which may be fine if you enjoy the journey as much as the destination when travelling. ATMs and banks are easily available everywhere, and all major credits cards are accepted.

The bus and local train network are both extensive and not too expensive, though to get to smaller towns you may have to bus to a nearby big city then take another bus to your destination. Also another popular way to get around Germany is by car, which is flexible and easy and you get to experience the famous Autobahn on which there is no speed limit.

Alternatively cheapest flights are now available to get around Germany and are a good way to save time on your travels if you don't mind missing seeing the landscape while you travel.

 

Travel money for Germany

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.

 
 

USD to EUR - Travel Money & Cards

Provider Amount EUR(€) Exchange RateFee USDDeal Links
891.52
1%
Best Overall
0.896U$5.00
U.S. Bank Foreign Cash
U.S. Bank logo
842.90
6.4%
€49 less
0.84290
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
834.47
7.33%
€57 less
0.842915
Wells Fargo Bank logo
826.04
8.27%
€65 less
0.8429U$20
Travelex Online logo
816.50
9.33%
€75 less
0.81650^
 
loading
TransferWise: Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:U$5.00 USD (0.5% + U$1)
Exchange Rate:0.8960 (-0.5% from mid-rate)
To Amount (EUR)891.52
Total Cost:1%
Time:20:29 Local
Currency Services:Multi-currency debit card with linked foreign bank accounts
Delivery/Collect:5-7 days
Rating:
 
: 4.6/5.0
Reviews:
 
U.S. Bank logo
loading
U.S. Bank: Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:0
Exchange Rate:0.8429 (-6.4% from mid-rate)
To Amount (EUR)842.90
Total Cost:6.4%
Time:20:29 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 
Banks - Average Rate
loading
Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:15
Exchange Rate:0.7879 (-12.5% from mid-rate)
To Amount (EUR)834.47
Total Cost:7.33%
Currency Services:Branch
Delivery/Collect:-
 
Wells Fargo Bank logo
loading
Wells Fargo Bank: Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:U$20 USD (Minimum fee)
Exchange Rate:0.8429 (-6.4% from mid-rate)
To Amount (EUR)826.04
Total Cost:8.27%
Time:20:29 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 
loading
Travelex Online: Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:0.8165 (-9.33% from mid-rate)
To Amount (EUR)816.50
Total Cost:9.33%
Time:
Rate Fetched: Sat May 30 2020 20:15:03 GMT+0000 (UTC)
Currency Services:FREE Home delivery & Branch pickup
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 
loading
Snapshot 05/30/2020 - View live rates

Sending money to Germany

When searching around for information on how to get a good exchange rate when sending money to Germany you need to start with finding out the latest Euro foreign-transfer exchange 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 here).


Get a better deal for foreign transfers to Germany

When sending money to Germany 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 Germany.

Use our 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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