Currency in Luxembourg EUR - Things to know
Foreign exchange guide to Luxembourg and the Euro
What's in this Luxembourg currency guide?
What currency is used in Luxembourg?
The official currency of Luxembourg (country code: LU) 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 Luxembourg
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 Luxembourg
Right in the middle of Europe, you’ll find the beautiful country of Luxembourg. A landlocked country, it’s full of forests, fairytale castles, and jagged gorges. The capital of the country is also called Luxembourg and is situated to the South of the Country. There is no King or Queen of Luxembourg. Instead, there’s a Grand Duke or Grand Duchess. The current Grand Duke is called Henri and he has been Grand Duke since 2000. Much like the Queen of England, the country celebrates his ‘official’ Birthday each year. With a successful steel, finance and high technology industry, a strategic location at the heart of Western Europe, more natural beauty than you might expect given its size, and as one of the three richest countries in the world, Luxembourg enjoys a very high standard of living.
How do I get around Luxembourg?
By train: The Chemins de Fer Luxembourgeois (CFL) [7] train network is either comprehensive or spartan, depending whether you want to go south or north. While the south is reasonably well covered, the north is limited to one main line (Ligne 10) which runs from Luxembourg City via Mersch, Ettelbrück, Wilwerwiltz, Clervaux and Troisvierges. The line continues north into Belgium towards Liège. Trains in Luxembourg generally run very much on time and are modern and comfortable. As the fares are so cheap this is a good mode of transport to use when possible.
By Car: Driving in Luxembourg is nowhere as testing as in other European countries. The locals are polite, even when entering roundabouts. When entering the highways from side roads into the slower traffic lane, the other drivers will allow you to join the traffic line, but traffic indicators are essential. As with other highways in Europe always keep in the slow traffic lane, keeping the fast lane for overtaking. Normal day to day driving in Luxembourg is a delight but traffic does slow down in peak times.
What language is spoken in Luxembourg?
Luxembourgish ("Lëtzebuergesch") - a Germanic language that incorporates many French loan-words - is the national language. It is spoken natively by just over half of the native population, and is the main language of television and radio broadcasts. German ("Hochdeutsch") enjoys official status in Luxembourg. It is taught in schools, is the language of the press, court system and church, and is almost universally understood by the local population.
That being said, everything from road signs to menus to information in stores, will appear in French - which is the main language of the government. French therefore is clearly one of the most useful of the three official languages to know, particularly in the capital.
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 Luxembourg?
The domestic currency in Luxembourg 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 Luxembourg - Best Rates
To get a good (and fair) exchange rate when sending money to Luxembourg 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 Luxembourg
When sending money to Luxembourg 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 Luxembourg.
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!
