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Greece - Euro - Currency Guide

 

Foreign exchange guide to Greece 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:7-DAY2.8% | 60-DAY LOWS |
USD/EUR at 0.8916 was trading 2.4% below AVG:0.9132 with LO:0.8739 and HI:0.9381 (90 days). ALERTS: USD/EUR was DOWN 2.8% this 7-DAY period and also dropped to 60-DAY LOWS.

US Dollar to Euro - Historical Rates

USD/EURPeriod to 02-JunDateRate
1.7% ▼1 Week26 May 20200.9109
1.9% ▼30 Days03 May 20200.9123
0.3% ▼90 Days04 Mar 20200.8978
0.7% ▲1 Year03 Jun 20190.8892
0.4% ▲5 Years04 Jun 20150.8918
7.6% ▲10 Years05 Jun 20100.8320
USD/EUR 10 year rates & changes to 02-Jun-2020 (0.8951)

US Dollar to Euro - Quick Conversions

USD EUR
U$ 1 0.8914
U$ 5 4.4570
U$ 10 8.9140
U$ 20 17.83
U$ 50 44.57
U$ 100 89.14
U$ 250 222.85
U$ 500 445.70
U$ 1,000 891.40
U$ 2,000 1,783
U$ 5,000 4,457
U$ 10,000 8,914
U$ 50,000 44,570
U$ 100,000 89,140
More amounts
USD EUR
U$ 1.1218 € 1
U$ 5.6090 € 5
U$ 11.22 € 10
U$ 22.44 € 20
U$ 56.09 € 50
U$ 112.18 € 100
U$ 280.45 € 250
U$ 560.90 € 500
U$ 1,122 € 1,000
U$ 2,244 € 2,000
U$ 5,609 € 5,000
U$ 11,218 € 10,000
U$ 56,090 € 50,000
U$ 112,180 € 100,000
More amounts

Frequently Asked Questions

 

What currency should I use in Greece?

The domestic currency in Greece 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 Greece

Although the news has been full of negative stories about the financial and immigrant crises which have engulfed Greece in recent years, there are still many reasons to visit this delightful country. From its stunning beaches and superb mountain scenery to great food, astounding history and, above all, its warm Hellenic welcome. It is also a very affordable country to travel in. As one of the continent’s most popular destinations during the summer times, people from around the world  flock to its famous islands for the sun, and to the cities for the history.

Greece is known for its food. Restaurants will cost about 20 EUR for a nice dinner, even in the tourist area. If you add wine, expect to pay about 30 EUR. A meal at a very luxurious restaurant will begin at 30 EUR.

What currency should I use in Greece?

The currency used in Greece is the Euro. You can find ATMs in every major town and city, and practically every inhabited Greek island has at least one machine. You will find ATMs in supermarkets, airports, ferry ports, metro stations and other public places. You will be able to use your credit cards in shops and hotels, fuel stations and shops up and down the country. When it comes to bars and tavernas though, you may need to check their machine is working. You would be surprised at how many card machines are faulty in these places when they work perfectly everywhere else.

Getting around in Greece?

Because Greece has a lot of islands, you will be dealing with lots ferries and boats. Expect to spend an average of 36 EUR per a trip, though you could spend as little as 12 EUR if the islands are really close together. From Athens, most ferries to the islands costs around 60 EUR. Slow, overnight island ferries begin at 13 EUR. Buses and trains around the mainland are around 20 EUR. It’s 1.20 EUR for a single ride on the Athens train system.

Many people go to Greece for the islands but the mainland has a great deal to offer, from the imposing Pindus mountain range in the north to the empty golden beaches of the western Peloponnese. It also boasts the greatest number of archaeological sites.Travelling between the main towns is easy on the comprehensive KTEL bus network, with local services radiating out to villages.You can also make use of the limited but extremely cheap national rail service for a number of key destinations. Greece is a cheap country and even cheaper when you get out of the touristy Greek islands or popular destinations. Head off the beaten path and you will usually see prices drop by 30% or more.

Travel tips for Greece.

Eating is casual in Greece. Look for restaurants where the locals are eating, as the food will be much better. Just remember that Greeks eat late, often after 10pm. Always ask for local barrelled wine, which is cheaper than bottled, or try a fiery spirit such as ouzo or tsipouro. Likewise, don't be fobbed off with bottled water, as what comes out of the tap is perfectly drinkable. Punctuality is not considered a big issue in Greece. There is a healthy Mediterranean belief that most things can be put off and nothing needs to be done in a hurry. So don't expect service in a restaurant to be too snappy or transportation always to run like clockwork.

 

Travel money for Greece

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
882.57
1%
Best Overall
0.887U$5.00
U.S. Bank Foreign Cash
U.S. Bank logo
834.50
6.39%
€48 less
0.83450
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
826.16
7.33%
€56 less
0.834515
Wells Fargo Bank logo
817.81
8.27%
€65 less
0.8345U$20
Travelex Online logo
814.30
8.66%
€68 less
0.81430^
 
loading
TransferWise: Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:U$5.00 USD (0.5% + U$1)
Exchange Rate:0.8870 (-0.5% from mid-rate)
To Amount (EUR)882.57
Total Cost:1%
Time:9:29 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
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U.S. Bank: Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:0
Exchange Rate:0.8345 (-6.39% from mid-rate)
To Amount (EUR)834.50
Total Cost:6.39%
Time:9:29 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:0.7801 (-12.5% from mid-rate)
To Amount (EUR)826.16
Total Cost:7.33%
Currency Services:Branch
Delivery/Collect:-
 
Wells Fargo Bank logo
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Wells Fargo Bank: Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:U$20 USD (Minimum fee)
Exchange Rate:0.8345 (-6.39% from mid-rate)
To Amount (EUR)817.81
Total Cost:8.27%
Time:9:29 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 
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Travelex Online: Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:0.8143 (-8.66% from mid-rate)
To Amount (EUR)814.30
Total Cost:8.66%
Time:
Rate Fetched: Wed Jun 03 2020 09:15:03 GMT+0000 (UTC)
Currency Services:FREE Home delivery & Branch pickup
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 
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Snapshot 06/03/2020 - View live rates

Sending money to Greece

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

When sending money to Greece 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 Greece.

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!

 

USD to EUR International Money Transfers

Foreign Transfer Provider Receive EUR(€) Exchange RateFee USDDeal Links
OFX logo
884.40
0.8%
Best Overall
0.88440^
XE logo
878.10
1.5%
€6.3 less
0.87810
HSBC logo
857.81
3.78%
€27 less
0.8591U$1.50
U.S. Bank International Money Transfers
U.S. Bank logo
855.60
4.03%
€29 less
0.85560
Bank of America International Money Transfers
Bank of America logo
842.77
5.47%
€42 less
0.8556U$15
Wells Fargo Bank logo
842.70
5.47%
€42 less
0.8599U$20
Banks - Average Rate
U.S. Bank logo Bank of America logo HSBC logo Wells Fargo Bank logo
849.72
4.69%
€35 less
0.857615
 
loading
OFX: Foreign Transfer USD→EUR
From Amount (USD)U$1,000
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:0.8844 (0.8% from mid-rate)
To Amount (EUR)884.40
Total Cost:0.8%
Time:
Rate Fetched: 9:29 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 
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XE: Foreign Transfer USD→EUR
From Amount (USD)U$1,000
Fee:
Exchange Rate:0.8781 (1.5% from mid-rate)
To Amount (EUR)878.10
Total Cost:1.5%
Difference:
€6.3 EUR less than using OFX
Time:9:29 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 3.5/5.0
Reviews:
 
HSBC logo
loading
HSBC: Foreign Transfer USD→EUR
From Amount (USD)U$1,000
Fee:U$1.50 USD (.15%)
Exchange Rate:0.8591 (3.63% from mid-rate)
To Amount (EUR)857.81
Total Cost:3.78%
Difference:
€27 EUR less than using OFX
Time:9:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
U.S. Bank logo
loading
U.S. Bank: Foreign Transfer USD→EUR
From Amount (USD)U$1,000
Fee:0
Exchange Rate:0.8556 (4.03% from mid-rate)
To Amount (EUR)855.60
Total Cost:4.03%
Difference:
€29 EUR less than using OFX
Time:9:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Bank of America logo
loading
Bank of America: Foreign Transfer USD→EUR
From Amount (USD)U$1,000
Fee:U$15 USD (Minimum fee)
Exchange Rate:0.8556 (4.03% from mid-rate)
To Amount (EUR)842.77
Total Cost:5.47%
Difference:
€42 EUR less than using OFX
Time:9:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Wells Fargo Bank logo
loading
Wells Fargo Bank: Foreign Transfer USD→EUR
From Amount (USD)U$1,000
Fee:U$20 USD (Minimum fee)
Exchange Rate:0.8599 (3.54% from mid-rate)
To Amount (EUR)842.70
Total Cost:5.47%
Difference:
€42 EUR less than using OFX
Time:9:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Banks - Average Rate
loading
Foreign Transfer USD→EUR
From Amount (USD)U$1,000
Fee:15
Exchange Rate:0.8538 (4.23% from mid-rate)
To Amount (EUR)849.72
Total Cost:4.69%
Difference:
€35 EUR less than using OFX
Transfer Speed:
Services:
 
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Snapshot 06/03/2020 - View live rates

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