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Malta - euro - Currency Guide

 

Foreign exchange guide to Malta and the euro (EUR)

     

USD/EUR Trend (90-day)

USDEUR at 0.8346 is near its 90-day average, 0.8214-0.8534 range.
30DLOW
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Alert:30DLOW |
 
Recent USD to EUR Trend + Alerts

The above interactive chart shows the USD/EUR Exchange Rate, Trends and Alerts - UP DOWN HIGH LOW

General Currency Info - 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.

   

EUR News, Forecasts and Trends

Forecasts

Swiss bank UBS see the EUR/USD rate to rise near 1.27 by the end of 2021 as the world recovers from the pandemic and has less need for USD as a safe haven. EUR Markets

For more EUR currency market forecasts you can read the full article euro Forecasts.

US dollar to euro - Historical Rates

USD/EURChangePeriod
0.8403
09 Apr 2021
0.7% ▼1 Week
0.8345
17 Mar 2021
0% ▲30 Days
0.8278
16 Jan 2021
0.8% ▲90 Days
0.9209
16 Apr 2020
9.4% ▼1 Year
0.8856
17 Apr 2016
5.8% ▼5 Years
0.6981
19 Apr 2011
19.6% ▲10 Years

USD/EUR 10 year historic rates & change to 16-Apr-2021 : 0.8346

 

$10,000 USD
=
€8,346 EUR

Converted at USD/EUR interbank rate, compare Send Money and Currency Exchange exchange rates.

US dollar to Euro - Quick Convert

USD EUR
$ 1 0.8346
$ 5 4.1730
$ 10 8.3460
$ 20 16.69
$ 50 41.73
$ 100 83.46
$ 250 208.65
$ 500 417.30
$ 1,000 834.60
$ 2,000 1,669
$ 5,000 4,173
$ 10,000 8,346
$ 50,000 41,730
$ 100,000 83,460
More amounts
USD EUR
$ 1.1982 € 1
$ 5.9910 € 5
$ 11.98 € 10
$ 23.96 € 20
$ 59.91 € 50
$ 119.82 € 100
$ 299.55 € 250
$ 599.10 € 500
$ 1,198 € 1,000
$ 2,396 € 2,000
$ 5,991 € 5,000
$ 11,982 € 10,000
$ 59,910 € 50,000
$ 119,820 € 100,000
More amounts
 

Frequently Asked Questions

 

What currency should I use in Malta?

The domestic currency in Malta 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,   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 Barthélemy,   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?

 

Travel, Currency and Money saving tips for Malta

The entire country spans only 196 square miles, making it an easy destination to explore, and, despite being a popular spot for European travelers, Malta still feels like an undiscovered gem.. Malta is packed with historical sites, from the UNESCO-protected ancient temples to the three ancient cities on the harbor. Archeology buffs will enjoy wandering through the Ħal Saflieni Hypogeum, an ancient underground cemetery thought to have been used between 4,000 and 2,500 B.C.

Malta's landscape contrasts rocky stretches of coast that end in dizzying limestone cliffs with sheltered bays that hide gin-clear water and red-gold beaches. The islands' many marinas jostle with boats, and you can take to the water in sky-blue traditional craft, stately yachts or speedboats.

Malta and Gozo’s astounding prehistoric sites were constructed by sophisticated-seeming temple builders, who also left miniature figurines and mammoth sculptures of ‘fat ladies’, which have survived millennia and are housed in Malta's fascinating museums. Out in the open, gigantic temples and towers from many different eras stand proud, continuing their endless watch over the sea. The most extraordinary site of all lies underground: Hal Saflieni Hypogeum, a 5000-year-old necropolis carved from the living rock.

What currency is used in Malta?

On 1st January 2008 Malta adopted the euro as its currency. Exchange bureaux at Malta International Airport are open 24 hours a day. International bank cards are accepted and foreign currency is easily exchanged. Banks, Automated Teller Machines (ATMs) and exchange bureaux can be found all over the Islands. The majority of hotels, larger shops and restaurants also accept payment in the main international currencies.

How to get around in Malta?

Local buses are good, especially in the Northern area and from Sliema you will find direct links to Valletta, Mdina, Malta, St Paul's Bay, Mellieha and Cirkewwa for the Gozo ferry. Some buses will get busy, especially at peak times when locals use them for commuting.The public bus service on Malta and Gozo is a good way to get around as buses serve the major tourist areas, go practically everywhere and are inexpensive and efficient.

Valletta Ferry Services operates regular ferries between Valletta's Marsamxett Harbour and Sliema, as well as from near Valletta Waterfront to the Three Cities. There are no train services in Malta.

The white taxi service can pick up passengers from anywhere, except bus-stops. Taxi services from the Malta International Airport and the Seaport Terminal to all localities in Malta are based on a fixed tariff. Official Maltese taxis are white (usually Mercedes, with a taxi sign on top; www.maltataxi.net). To combat regular complaints of overcharging, taxi drivers must by law use the meter to determine the fare (except from the airport and sea port, where there are set fares). Renting a car is a good option if you want to get to the farther reaches of the island. All the road signs are in English and driving is on the left.

Travel tips for Malta.

Gozo may be a third of the size of Malta, but you'll be surprised to learn that there’s plenty to see and do on the island. Tourists often make the mistake of thinking that they can see all of Gozo in one day. Get off the beaten path – walk along the Gozo’s rugged coastline, go for a swim at a secluded beach and explore the island’s picturesque hamlets. Despite its lack of green areas, Malta is still a great place for hiking. The island has a range of easy to challenging walking trails running along the coast and cutting through the countryside.

Any time of year will be beautiful in Malta, and although locals prefer to hop in the sea only during the summer, most visitors will find it warm enough to enjoy year round.

 

Travel money for Malta

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.

 

Send Money to Malta - Best Rates

To get a good (and fair) exchange rate when sending money to Malta 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 Malta

When sending money to Malta 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 :

  1. Open an account with a BER reviewed FX provider (id docs may be required)
  2. You specify the local or euro amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. Once your funds are received by the provider the converted EUR amount will be transfered to the recipient account you specify in Malta.

Use the above Send to euro 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!


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