Currency in Macedonia: MKD Send & Spend FX Guide
Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Macedonia with the Macedonian denar.
What's in this Macedonia currency guide?
What currency is used in Macedonia?
The official currency of Macedonia (country code: MK) is the Macedonian denar, with symbol ден and currency code MKD.
What is a good Macedonian denar exchange rate?
The BestExchangeRates.com currency comparison table below helps you see the total cost of your currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of rates, enter your transaction type, currencies and amount then click ‘GET RATES’:
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Good things to know about the Macedonian denar
The Macedonian denar (MKD) is the official currency of North Macedonia, a country located in Southeast Europe. Here are a few things to know about the Macedonian denar:
- The Macedonian denar is abbreviated as MKD and is divided into 100 deni.
- The National Bank of North Macedonia is responsible for issuing and regulating the Macedonian denar.
- The exchange rate for the Macedonian denar is determined by supply and demand in the foreign exchange market.
- North Macedonia has a diverse economy, with a significant portion of the country's GDP coming from the service sector. The country is also a major producer of food and has a growing manufacturing sector.
- The value of the Macedonian denar has been relatively stable in recent years, but the currency has faced challenges due to economic challenges such as high unemployment and a large trade deficit. In addition, North Macedonia has faced political instability and conflict, which have also had an impact on the value of the Macedonian denar.
For more MKD information check out our selection of Macedonian denar news and guides.
Frequently Asked Questions
What currency should I use in Macedonia?
The domestic currency in Macedonia is the Macedonian denar.
What is the Macedonian denar currency code and symbol?
The three letter currency code for the Macedonian denar is MKD — symbol is ден.
Which countries use the Macedonian denar?
It is the domestic currency in Macedonia.
Is the Macedonian denar a closed currency?
No, the Macedonian denar is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of INR and MKD?
Here are some popular conversion amounts for INR to MKD (Indian rupee to Macedonian denar)*.
| INR | MKD |
|---|---|
| ₹ 1,630 | ден 1,000 |
| ₹ 8,148 | ден 5,000 |
| ₹ 32,590 | ден 20,000 |
| ₹ 162,950 | ден 100,000 |
More amounts
*Converted at the current INRMKD interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Travel money for Macedonia
Using Wise for Macedonian denar travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in Macedonian denar otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want Macedonian denar cash before departure, you can save money by ordering online. You generally get better rates and can pick up the MKD cash locally or even on travel day at the airport.
Macedonia: Travel Guide
Traveling to Macedonia requires careful financial planning to ensure a smooth and cost-effective experience. Here's a comprehensive guide to help you navigate currency considerations and manage your money effectively during your visit.
A crossroads between East and West, this tiny country is a treasure chest of historical monuments, natural wonders, and vibrant culture. A former Yugoslavian republic, this tiny country—barely bigger than Vermont—is tucked between Greece, Albania, and Bulgaria on the Balkan Peninsula.
Modern-day Macedonia is a melting pot of Persian, Greek, Roman, Ottoman, Serbian, and Soviet flavors. Friends linger over coffee in outdoor cafes as throaty Slavic chatter drifts amid curls of cigarette smoke and clinking glasses of rakija. Rounded domes of Orthodox Christian churches share the skyline with towers of Muslim mosques, limestone-crusted mountains rise over quiet villages, and glittering lakes punctuate the wild countryside.
What currency should I use in Macedonia?
The local currency is the Macedonian denar (MKD). Normal purchases are priced in denar, and you should pay in denar. The only thing you can do with dollars is exchange them for denar; there are plenty of money changers. But the easiest way to get denars is to use a debit card in an ATM; they are all over. Be sure to tell your debit card company where you will be using the card so that they don't block it for being used in a foreign country. Bring some cash to fall back on while sorting things out if there is a problem.
You cannot change MKD (Macedonian dinars) outside of Macedonia so you will need to change any money back to Euro, GDP or USD etc. before leaving Macedonia. If you wish to change money in the bank, you will need to produce the receipt from your original withdrawal and you will need to go to a branch of the same bank that you withdrew the money through. Otherwise, you will not be able to change your money through a bank and will have to go through a private exchange office or Western Union or the like.
Getting around in Macedonia?
Alexander the Great Airport, 21km from Skopje, is Macedonia's main airport, though Ohrid's St Paul the Apostle Airport is running a growing number of European international flight services. The long-awaited arrival of budget airlines has improved Skopje's modest number of air connections, and it's now connected pretty well to major European cities.
Domestic trains are reliable but slow. From Skopje, one train line runs to Negotino and another to Bitola via Veles and Prilep. A smaller line runs Skopje–Kičevo. Ohrid does not have a train station.
Skopje serves most domestic destinations via bus. Larger buses are new and air-conditioned; kombi (minibuses) are usually not. Taxis are relatively inexpensive, except for some journeys around Ohrid. Fares generally cost 40MKD for the first kilometre, 25MKD per subsequent kilometre. Make sure the driver switches on his meter.
Travel tips for Macedonia.
The capital, Skopje, is home to more than half a million people, Macedonia’s capital is a quirky blend of old and new. The rest of Macedonia is a stomping ground for adventurers. Tourist infrastructure is scant, but locals are unfailingly helpful. Mountains are omnipresent and walking trails blissfully quiet. The national parks of Mavrovo, Galičica and Pelister are also cultivating some excellent cultural and food tourism initiatives; these gorgeous regions are criminally underexplored. If you want to get off the beaten track in Europe, this is it.
No special vaccinations are required for travel to Macedonia and there are no unusual health concerns. It is always a good idea to have a tetanus jab before travelling.
Ancient Orthodox Christian heritage lives on in crumbling, frescoed churches and monasteries across Macedonia, while Ottoman-era mosques can be found in the northern regions.
Everyday Costs in in Macedonia
How much does it really cost to live, work, or travel in Macedonia? Here's what to expect for daily expenses and expat living.
Currency Guide for North Macedonia (MK)
Traveling to North Macedonia can be a delightful and budget-friendly experience. For a 1-week mid-range stay, travelers should expect to budget around €500 to €700 (approximately 30,000 – 43,000 MKD). Here’s a breakdown of typical daily expenses you might encounter:
- 🍽️ Meal at a local restaurant: 500 MKD
- ☕ Coffee: 100 MKD
- 🚍 Public transport fare: 40 MKD
- 📱 Prepaid SIM card: 1,000 MKD
- 🏨 Budget hotel or Airbnb: 2,500 MKD
In general, North Macedonia is considered a cheap destination compared to many Western countries. For context, everyday expenses in North Macedonia have been noted to be roughly 40-60% cheaper than in the United States, with costs similarly lower when compared to the UK, making it a great choice for budget-conscious travelers seeking an enriching cultural experience.
Insights for Expats in North Macedonia
For expats, the typical monthly living costs in North Macedonia can vary based on lifestyle but are generally around 35,000 – 55,000 MKD. This includes rent, utilities, groceries, and leisure activities. Banking in North Macedonia is modern, and many services are available in English; however, rely on local banks for better loan rates and local currency transactions. When it comes to card usage, Visa and Mastercard are widely accepted, but it’s wise to carry some cash, especially for small purchases or rural areas.
When sending or receiving money, consider the associated fees of using banks versus online services. While local exchanges can provide a good rate, international transfer services like Wise or OFX often offer more competitive exchange rates and lower fees, making them a preferred option for expats handling larger transactions. In conclusion, navigating the currency and banking landscape in North Macedonia can be straightforward with the right approach, helping expats effectively manage their finances and enjoy their time in this beautiful Balkan nation.
USD/MKD Market Data
The below interactive chart displays the USD/MKD change and UP📈 DOWN📉 trends over the past 1 Year.
Send Money to Macedonia - Best Rates
To get a good (and fair) exchange rate when sending money to Macedonia 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 Macedonia
When sending money to Macedonia 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 Macedonian denar 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 MKD amount will be transfered to the recipient account you specify in Macedonia.
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 Macedonian denar deposited into the recipient bank account and less margins and fees kept by the banks!