Currency in Ireland EUR - Things to know
Foreign exchange guide to Ireland and the Euro
What's in this Ireland currency guide?
What currency is used in Ireland?
The official currency of Ireland (country code: IE) is the Euro, with symbol € and currency code EUR.
Things to know about the 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.
The euro banknotes and coins
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.
Travel money for Ireland
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.
Travel Ideas and Money Tips for Ireland
If you're looking for a breathtakingly beautiful country with a rich history and friendly people, then you'll love Ireland. Situated on the west coast of Europe, Ireland is an ideal destination for travelers and expats alike. From the wild and rugged coastline to the rolling green hills and picturesque villages, there's something for everyone in Ireland.
The people of Ireland are known for their warm hospitality, and you're sure to receive a warm welcome wherever you go. In addition to being friendly and hospitable, the Irish are also famous for their love of music and literature. You'll find live music in every town and city, and there are plenty of museums and galleries to explore.
When it comes to food, Ireland has something for everyone. From hearty stews and delicious seafood to fresh fruits and vegetables, you'll find plenty of delicious options to choose from. And of course, no trip to Ireland would be complete without trying a pint of Guinness!
Best things to do and see in Ireland
There are many things to do and see in Ireland, but some of the best include exploring the stunning scenery, visiting the historic castles and monuments, and sampling the delicious food and drink.
Top Travel tips for Ireland
by BudgetThere are plenty of ways to save money while traveling in Ireland. Here are a few tips:
-Find budget-friendly accommodation. There are many hostels and bed and breakfasts available for reasonable prices.
-Eat like a local. Dining out can be expensive, so take advantage of Ireland's supermarkets and cook your own meals.
-Walk or cycle whenever possible. Not only is it good exercise, but it's also a free way to see the sights.
-Visit free attractions. Many of Ireland's top attractions, like museums and castles, don't charge an admission fee.
EUR/USD Market Data
The below interactive chart displays the EUR/USD trend and UP▲ DOWN▼ HIGH▲ LOW▼ alerts
Frequently Asked Questions
What currency should I use in Ireland?
The domestic currency in Ireland 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, 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.
Is the Euro a closed currency?
No, the Euro is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and EUR?
Converted at USD/EUR interbank rate, compare Send Money and Currency Exchange exchange rates.
Send Money to Ireland - Best Rates
To get a good (and fair) exchange rate when sending money to Ireland 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.
Get a better deal for foreign transfers to Ireland
When sending money to Ireland 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 :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Euro amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted EUR amount will be transfered to the recipient account you specify in Ireland.
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!
Expat Money & Business Guide to Ireland
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 Ireland.
How is the expat life in Ireland?
The expat life in Ireland is generally good. There are many opportunities to meet other expats and make friends. There are also many activities and events to get involved in.
What is doing business like in Ireland?
The business environment in Ireland is stable and conducive to doing business. The country has a pro-business government that is supportive of foreign investment. Ireland is a member of the European Union and the Eurozone, providing businesses with access to a large potential customer base. The country has a skilled workforce and a well-developed infrastructure. Taxes are relatively high, but the corporate tax rate is lower than in many other countries.
How is the economy in Ireland?
The economy in Ireland is considered to be strong. Ireland has a low unemployment rate and has experienced strong economic growth in recent years.
Managing your finances in Ireland
Here we list some key points for expats and businesses to consider when managing financial dealings in Ireland:
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 Ireland. 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 Ireland. 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 Ireland. 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 Ireland, 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.
