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Currency in Montenegro: EUR Send & Spend FX Guide

Resources for Expats, Travelers and Entrepreneurs Navigating Life and Trade in Montenegro with the Euro.

/images/backgrounds/ME.jpgMontenegro currency guide background image

What's in this Montenegro currency guide?

  1. Currency Facts & News
  2. Travel Money Rates
  3. Travel Guide
  4. Cost of Living
  5. USD/EUR Market Data
  6. Send Money to Montenegro

What currency is used in Montenegro?

The official currency of Montenegro (country code: ME) is the Euro, with symbol and currency code EUR.

What is a good Euro 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 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.

For more EUR information check out our selection of Euro news and guides.

 

Frequently Asked Questions

What currency should I use in Montenegro?

The domestic currency in Montenegro is the Euro.

What is the Euro currency code and symbol?

The three letter currency code for the Euro is EUR — symbol is .

What does the Euro look like?

Here is an example Euro banknote:

Which countries use the Euro?

It is the domestic currency in    Eurozone,   Aaland Islands,   Andorra,   Austria,   Belgium,   Bulgaria,   Croatia,   Cyprus,   Estonia,   Finland,   France,   French Guinea,   French Southern Territories,   Germany,   Greece,   Guadeloupe,   Vatican City,   Ireland,   Italy,   Latvia,   Lithuania,   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 ILS and EUR?

Here are some popular conversion amounts for ILS to EUR (Israeli new sheqel to Euro)*.

ILS EUR
₪ 1 0.2782
₪ 5 1.3910
₪ 10 2.7820
₪ 20 5.5640
₪ 50 13.91
₪ 100 27.82
₪ 250 69.55
₪ 500 139.10
₪ 1,000 278.20
₪ 2,000 556.40
₪ 5,000 1,391
₪ 10,000 2,782
₪ 20,000 5,564
₪ 50,000 13,910
₪ 100,000 27,820
ILS EUR
3.5946 € 1
17.97 € 5
35.95 € 10
71.89 € 20
179.73 € 50
359.46 € 100
898.65 € 250
1,797 € 500
3,595 € 1,000
7,189 € 2,000
17,973 € 5,000
35,946 € 10,000
71,892 € 20,000
179,730 € 50,000
359,460 € 100,000

More amounts

*Converted at the current ILSEUR interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.

 
   
Montenegro

Travel money for Montenegro

Using Wise for Euro 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 Euro otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.

If you really want Euro cash before departure, you can save money by ordering online. You generally get better rates and can pick up the EUR cash locally or even on travel day at the airport.

 
 
 

Montenegro: Travel Guide

Traveling to Montenegro 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.

Recently it's almost impossible to come across a travel section without someone trumpeting Montenegro as the new 'it' destination. With its rugged mountain views and glistening seaside ports, it’s surprising that the charm and allure of Montenegro has been reserved for locals or those visiting from other Balkan states. Thanks to new cruise ship routes, high-end hotel openings, and a flood of interest from off-the-beaten-path travel enthusiasts, Montenegro is quickly becoming the place to go on the Adriatic. From sweeping views to a fresh focus on food—and ample outdoor activities to keep your heart pumping—this often-overlooked country might be the most surprising place you visit in recent years.

What currency should I take to Montenegro?

The official currency of Montenegro is the Euro. Credit cards are widely accepted throughout the country. There are ATM machines in almost every city. MasterCard, Maestro and Visa cards can be used for payment in many shops and gas stations. Other cards are accepted in some of the Banks in Montenegro.

The prices in Montenegro are not equal all year round. They are often changing according to demand, season, place etc. The prices are significantly higher during the main season at the coast than the prices in inland or during the off-season time. They are adjusted in compliance with measures and purposes of the Montenegrin authorities.

Getting around in Montenegro.

The local bus network is extensive and reliable. Buses are usually comfortable and air-conditioned; they’re rarely full. It’s usually not difficult to find information on services and prices from the bus station. Most have timetables prominently displayed, although they’re not always up to date.It’s a bit cheaper to buy your ticket on the bus rather than at the station, but a station-bought ticket theoretically guarantees you a seat. Reservations are only worthwhile for international buses, at holiday times, or where long-distance journeys are infrequent.

Most Montenegrin towns, even Podgorica, are small enough to be travelled by foot. Podgorica is the only city to have a useful local bus network, costing 80c per trip. Taxis are easily found in most towns. If they’re not metered, be sure to agree on a fare in advance. Some Budva taxis have their meters set at extortionate rates, so ask to be let out if you suspect something's amiss.

Independent travel by car or motorcycle is an ideal way to gad about and discover the country; some of the drives are breathtakingly beautiful. Traffic police are everywhere, so stick to speed limits and carry an International Driving Permit. Allow more time than you’d expect for the distances involved as the terrain will slow you down. You’ll rarely get up to 60km/h on the Bay of Kotor road, for instance. As long as you have registration/ownership papers with you and valid insurance cover, there should be no problem driving your car into Montenegro.

The trains are old and can be hot in summer, but they’re priced accordingly and the route through the mountains is spectacular.

There are no regular ferry services within Montenegro, but taxi boats are a common sight during summer. They can be hailed from the shore for a short trip along the coast or to one of the islands. They’re harder to find outside the high season; look for them at the marinas. Some boats advertise set cruises, but normally they operate on an ad hoc basis.

Travel tips for Montenegro.

It's not even 300km from tip to toe, but Montenegro's coastline crams in some of Europe’s most spectacular seaside scenery. Mountains jut sharply from crystal-clear waters in such a way that the word 'looming' is unavoidable. Ancient walled towns cling to the rocks and dip their feet in the water like they're the ones on holiday.

When the beaches fill up with Eastern European sunseekers, intrepid travellers can easily sidestep the hordes by getting off the beaten track in the rugged mountains of Durmitor and Prokletije, the primeval forest of Biogradska Gora, or in the many towns and villages where ordinary Montenegrins go about their daily lives. Hike, horse ride, mountain bike or kayak yourself to somewhere obscure and chances are you'll have it all to yourself. This is, after all, a country where wolves and bears still lurk in forgotten corners.

Montenegro’s ski season lasts from roughly January to March, with the peak time being around New Year. The best-equipped ski resort is near Kolašin, but the most reliable skiing is in Durmitor National Park, where there are slopes close to Žabljak with options for beginners or serious skiers. There are also small ski centres near Nikšić and Rožaje in the east. Cross-country skiing can be undertaken in Lovćen and Durmitor National Parks.

Montenegro

Everyday Costs in in Montenegro

How much does it really cost to live, work, or travel in Montenegro? Here's what to expect for daily expenses and expat living.

Currency Guide: Montenegro (ISO Code: ME)

For a traveler planning a 1-week mid-range stay in Montenegro, it’s advisable to budget around €700-€1,000 depending on travel preferences and activities planned. Montenegro offers stunning coastal towns and mountainous landscapes, making it a fantastic destination for travelers. Here's a breakdown of typical daily expenses you might encounter:

  • 🍽️ Meal at a local restaurant: €15-€25
  • ☕ Coffee: €1.50-€3
  • 🚌 Public transport fare: €1
  • 📶 Prepaid SIM card: €10
  • 🏨 Budget hotel or Airbnb: €40-€80 per night

Overall, travelers generally find Montenegro to be an affordable destination compared to many Western countries. In terms of cost comparisons, visiting Montenegro tends to be cheaper than both the United States and the UK. For instance, a meal in a typical American restaurant can easily exceed $25, while in Montenegro, you can enjoy similar flavors for a fraction of that price!

For Expats in Montenegro

For expats settling in Montenegro, understanding the typical monthly living costs can help you plan effectively. A comfortable mid-range lifestyle would likely cost around €800-€1,200 monthly, which includes rent, utilities, groceries, and transportation. Here's a brief overview of potential expenses:

  • Rent for a one-bedroom apartment in the city center: €300-€500
  • Monthly utilities: €100-€150
  • Groceries: €150-€250

When it comes to banking and money management, Montenegro predominantly uses the Euro (€). Using credit/debit cards is widely accepted in urban areas, but it’s a good idea to keep cash handy in less commercialized regions. For transferring or receiving funds, services like Wise or OFX can offer better rates than local banks, especially for larger sums. However, if you exchange cash locally, ensure you choose reputable exchange services to avoid high fees or unfavorable rates. Overall, for most financial dealings, locals find that using cards and online transfer services can provide more convenience and cost savings compared to exchanging currency at kiosks.

 
 

USD/EUR Market Data

The below interactive chart displays the USD/EUR change and UP📈 DOWN📉 trends over the past 1 Year.

 
1 USD =
0.8604We compare provider deals to this wholesale mid-market rate. Read more
EUR
  1 EUR = 1.1623 USD   (Inverse rate)
 
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Eurozone

Recent Euro Market News

Here’s the short EUR update under the current US–Israel / Iran escalation:

🇪🇺 EUR Update — Iran Conflict Impact (Short)

🧭 Net effect: EUR pressured (risk + energy shock)

The euro is typically one of the weaker major currencies during Middle East geopolitical crises.

❌ Energy vulnerability → EUR negative

• The Eurozone is a large net energy importer.

• Rising oil prices worsen:

• trade balances

• inflation risks

• growth outlook

👉 Higher energy costs historically weigh on EUR.

❌ Risk-off flows favour USD & CHF instead

• Investors rotate toward USD and CHF safe havens, not EUR.

• Europe’s geographic proximity to Middle East instability adds perceived risk.

⚠️ ECB complication

The European Central Bank faces a difficult mix:

• higher energy inflation

• weaker growth outlook

This creates policy uncertainty — usually EUR-negative.

⚖️ Expected FX behaviour

Pair Likely Direction Why

EUR/USD ↓ USD safe-haven dominance

EUR/CHF ↓ sharply CHF crisis bid

EUR/GBP Slight ↓ Energy exposure disadvantage

EUR/AUD Mixed Both risk-sensitive

🧠 Trader rule of thumb

In oil-driven geopolitical shocks:

EUR behaves more like a growth currency than a safe haven.

🔭 Short-term outlook

• Near term: downside bias while oil and uncertainty stay elevated

• Escalation: EUR likely underperforms most G10 currencies

• De-escalation: EUR rebounds quickly if energy fears fade

For more EUR information read our News and guides to the Euro.

Send Money to Montenegro - Best Rates

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

When sending money to Montenegro 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 Montenegro.

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!

 

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