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Currency in Mayotte

A practical currency and money guide to travel, living and doing business in Mayotte and the Euro (EUR).

What's in this Mayotte currency guide:

Currency Facts for Mayotte
Travel & Money Ideas
Expat & Business Tips
EUR/USD – Market Data
Compare EUR Exchange Rates

What currency is used in Mayotte?

The official currency of Mayotte (country code: YT) 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.

An example euro banknote

Travel Ideas and Money Tips for Mayotte

Expat Money & Business Guide to Mayotte

Managing your finances in Mayotte

Here we list some key points for expats and businesses to consider when managing financial dealings in Mayotte:

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.
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 Mayotte. It may also be more convenient to use a local EUR bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Mayotte. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Mayotte. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Mayotte, 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.

1 EUR = 1.0776 USD

Sell EUR → Buy USD

EUR to USD at 1.0776 is just 0.5% above its 3-month average of 1.072, having fluctuated within a 4.4% range of 1.0522-1.0989

24-MAR 6PM-NY 10PM-LON 25-MAR 6AM-HK 9AM-SYD

1 USD = 0.9279 EUR

EURUSD :

30-DAY▲HIGH2d

1-DAY▼-0.9%1d

FX analysts are forecasting that the US dollar will continue to outperform the euro in March. The US dollar strengthened in February after robust US labor market data and expectations of more interest rate hikes by the US Federal Reserve. On the other hand, the euro lost ground after the ECB held interest rates steady and issued slightly dovish remarks. Additionally, global GDP growth has been sluggish, and inflation pressures have remained elevated, which will continue to be the main drivers of investor risk sentiment and FX markets. Therefore, based on recent FX analyst forecasts, it is likely that the USD will outperform the euro in March, with key support points for EUR/USD at 1.11 and 1.15. Looking at the USD/EUR price data for the previous three months, the exchange rate has been fluctuating within a 4.4% range of 0.9100-0.9504, with the current rate at 0.9313, just below the three-month average of 0.9331. This indicates that the exchange rate has been relatively stable in recent months, despite the fluctuations. However, it is important to note that factors such as inflation, interest rates, and economic growth can influence exchange rates, and any changes in these factors could impact the USD/EUR exchange rate in March.

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

EUR/USD historic rates & change to 24-Mar-2023

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 Mayotte or planning a trip or maybe living there, so will need to exchange and spend Euro.

Loading comparison rates...

Provider	Amounts	Rate	Total Cost

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.