A practical currency and money guide to travel, living and doing business in Guadeloupe and the Euro (EUR).
What's in this Guadeloupe currency guide:
The official currency of Guadeloupe (country code: GP) 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.
Guadeloupe is an overseas department and region of France located in the Caribbean Sea. It is an archipelago of islands, including the main islands of Grande-Terre and Basse-Terre, as well as the smaller islands of Marie-Galante, La Désirade, and Les Saintes.
Tourism is an important industry in Guadeloupe, with visitors coming to enjoy the warm weather, beautiful beaches, and diverse culture. Visitors can explore the island's natural beauty by visiting its national parks, such as La Soufrière, which is an active volcano and the highest peak in the Lesser Antilles.
Guadeloupe's rich culture is a mix of French, African, and indigenous influences and is reflected in its food, music, and festivals. Visitors can experience the local music, dance, and art, and can also learn about the country's history and traditional way of life.
The islands have a tropical climate, and it's a perfect destination for beach lovers and water sports enthusiasts. It offers a wide range of activities such as scuba diving, snorkeling, kayaking, and windsurfing.
Guadeloupe is also a popular destination for cruises and offers a good infrastructure for tourists, including airports, hotels, and transportation. The official language is French and the currency is the Euro.
Overall, Guadeloupe is a unique destination that offers visitors the opportunity to experience a blend of French, African and indigenous cultures, beautiful beaches, and natural beauty.
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 Guadeloupe.
Guadeloupe is an overseas department and region of France, and as such, it is subject to the same laws and regulations as mainland France. This can be beneficial for businesses, as it provides a stable and predictable legal and regulatory environment.
The economy of Guadeloupe is primarily driven by tourism, agriculture, and services. The tourism industry is well-developed, with a good infrastructure, and a variety of accommodation options, which can make it an attractive destination for businesses in the tourism sector.
Agriculture is also an important sector in Guadeloupe, particularly the production of sugarcane, bananas, and other tropical fruits. There are opportunities for businesses to invest in this sector, particularly in the areas of food processing, packaging, and export.
The service sector is also well-developed in Guadeloupe, particularly in the areas of retail, financial services, and real estate.
However, it's worth noting that the cost of living in Guadeloupe is relatively high compared to other Caribbean islands, and this can make it difficult for businesses to compete with foreign imports. Additionally, the island's small size and limited domestic market can also limit the potential for growth in certain sectors.
It's important for businesses to conduct thorough research and seek professional advice before starting a business in Guadeloupe, also to be familiar with the laws and regulations of France.
Here we list some key points for expats and businesses to consider when managing financial dealings in Guadeloupe:
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 Guadeloupe. 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 Guadeloupe. 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 Guadeloupe. 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 Guadeloupe, 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.
The exchange rate of euro (EUR), or the amount of EUR that can be exchanged for a foreign currency, can fluctuate rapidly based on a number of factors, including economic conditions, interest rates, and political events. Below you can check the latest EUR/USD rate plus recent trend, chart, forecasts and historic rates.
12 May 2023
|1.9% ▼||2 Week|
25 Feb 2023
|1.5% ▲||3 Month|
26 May 2022
|0% ▼||1 Year|
27 May 2018
|8.2% ▼||5 Year|
28 May 2013
|16.6% ▼||10 Year|
31 May 2003
|9.1% ▼||20 Year|
The EUR to USD exchange rate has been trading in a relatively stable range over the past three months, hovering near 60-day lows of 1.0724. Recently, EUR's negative correlation with a stronger US Dollar put some pressure on the single currency, while a weaker-than-expected consumer confidence reading also dented demand for EUR. The US Dollar has made modest gains over the past few days as a bearish market mood increased the safe-haven currency's appeal amid increasing Sino-American economic tensions.
FX analysts expect that if the Eurozone's PMIs raise concerns about weakening private sector activity, then the single currency could face headwinds. Moreover, the overall performance of the Eurozone economy is a significant factor that affects the euro exchange rate, and economists believe that uncertainty over the European Central Bank's interest rate plans could further impact the EUR to USD exchange rate adversely. However, the US dollar's strength over the past year is expected to eventually reverse in 2023 as the Fed's interest rate hikes cycle finally comes to an end.
EUR/USD forecasts EUR/USD rates
The below comparison table makes it easy to find the best exchange rates and lowest fees when you want to make an International Money Transfer to Guadeloupe or planning a trip or maybe living there, so will need to exchange and spend Euro.
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It is important to note that the exchange rate of the euro can change rapidly and that past performance is not necessarily indicative of future performance. It is advisable to carefully consider the risks and factors that may affect EUR exchange rates before making any financial decisions.