Currency in Martinique EUR - Things to know
Foreign exchange guide to Martinique and the Euro
What's in this Martinique currency guide?
What currency is used in Martinique?
The official currency of Martinique (country code: MQ) 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 Martinique
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 Martinique
Volcanic in origin, Martinique is a mountainous stunner crowned by the still-smoldering Mont Pelée, the volcano that wiped out the former capital of St-Pierre in 1902. Offering a striking diversity of landscapes and atmospheres, Martinique is a cosmopolitan and sophisticated island that boasts stunning beaches, superb hiking, top-notch culinary experiences, an enormous array of activities and rich cultural life.
While it suffers from overcrowding and urban sprawl in some places, particularly in and around the busy capital, Fort-de-France, life, and travel, becomes more sedate as one heads north or south through some of the island's alluring scenery. The rainforested, mountainous northern part is the most spectacular, but the south has its fair share of natural wonders, including lovely bays and miles of gorgeous beaches.
What currency to use in Martinique?
In Martinique, Euros are the only really usable currency. You will find U.S. Dollars and UK Pounds tend to be quite difficult to convert to Euros. Locals will tell you to go back to the airport, to use the exchange office there. Your best bet, is to use an ATM machine, there are many and are easy to find.Bank-operated 24-hour ATMs can also be found throughout the island. Don't bother trying to convert your money at a bank, unless you are in Fort de France. Bank hours vary, though Fort-de-France banks are generally open 7:30 a.m. to noon and 2:30 to 4:30 p.m. weekdays.
How to get around in Martinique?
If you would like to do some island hopping as part of your trip, it is easy to get to and from Martinique by ferry service. The ferries travel to Guadeloupe, Dominica and St. Lucia.
Renting a car in Martinique is hassle-free: all you need is a drivers’ license from your home country and the knowledge that traffic moves on the right, Taxis are another option if you plan on driving only minimally; they are expensive but reliable. Cabs line up at the airport and at hotels, as well as on the streets of the capital city Fort-de-France. Finally, there is water travel. Ferries run around the island between Fort-de-France and other coastal cities. Even if you do have a car, taking a ferry is a popular way to experience the Caribbean, and can be a destination in itself. A regular vedette (ferry) between Martinique’s main resort areas and Fort-de-France provides a nice alternative to dealing with heavy bus and car traffic; it also allows you to avoid the hassles of city parking and is quicker.
Travel tips for Martinique.
The former capital of Martinique, St. Pierre , was known as the Paris of the Antilles. Even though St. Pierre was destroyed in the 1902 eruption of Mount Pelee , Martinique reputation as a second France still remains. French is the official language of the island, and newspapers and literature of Martinique are usually in French.
Stunning beaches border tropical rainforests and towering cathedrals share skyline with an imposing volcano. Tourists and residents crowd the store-lined streets and restaurant-filled back alleys of Fort-de-France, while a few miles north, foliage dampens the sounds of bird tweets and hikers. In a word: Martinique. If you want to hit the beach one day then get the adrenaline pumping the next, you'll find that this island offers both – and does both well.
Avoid the winter Martinique is virtually empty for seven months of the year. Although May or June are the best months to visit, the spring, summer and fall all offer much lower hotel rates and airfare than wintertime.
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 Martinique?
The domestic currency in Martinique 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 Martinique - Best Rates
To get a good (and fair) exchange rate when sending money to Martinique 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 Martinique
When sending money to Martinique 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 Martinique.
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!
