Currency in Ireland
A practical currency and money guide to travel, living and doing business in Ireland and the Euro (EUR).
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 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.
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:
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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.
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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.
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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.
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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.
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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.
EUR/USD – Market Data
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.
| Date | EUR/USD | Change | Period |
|---|---|---|---|
10 Mar 2023 | 1.0657 | 1% ▲ | 2 Week |
24 Dec 2022 | 1.0667 | 0.9% ▲ | 3 Month |
24 Mar 2022 | 1.1009 | 2.2% ▼ | 1 Year |
25 Mar 2018 | 1.2354 | 12.9% ▼ | 5 Year |
26 Mar 2013 | 1.2861 | 16.3% ▼ | 10 Year |
29 Mar 2003 | 1.0754 | 0.1% ▲ | 20 Year |
Compare Euro Exchange Rates & Fees
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 Ireland 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.
The Euro is also the domestic currency in 33 other countries.
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