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    Currency in Netherlands

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

     

    What currency is used in Netherlands?

    The official currency of Netherlands (country code: NL) 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 Netherlands

    Describe Netherlands for travelers and expats

    The Netherlands is a small country located in northwest Europe. It is known for its windmills, tulips, and canals. The capital of the Netherlands is Amsterdam, and the official language is Dutch. The Netherlands is a popular tourist destination for its many museums and historic landmarks.

    Best things to do and see in Netherlands

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    1. Amsterdam - With world-renowned museums, historic canals, and lively nightlife, Amsterdam is a must-see for any visitor to the Netherlands.

    2. The Keukenhof - The Keukenhof, or Kitchen Garden, is a must-visit for anyone who loves flowers. With over 7 million tulips, daffodils, and other flowers, it is one of the largest flower gardens in the world.

    3. Rotterdam - Rotterdam is a lively city with a lot to offer visitors, from its iconic architecture to its lively nightlife.

    4. The Hague - The Hague is the seat of the Dutch government and is home to many important international organizations, such as the International Criminal Court.

    5. Maastricht - Maastricht is a charming city with a rich history and culture. It is also home to some of the best shopping in the Netherlands.

    Top Travel tips for Netherlands

    If you are planning to travel to the Netherlands, here are some tips to help you make the most of your trip:

    1. Plan your itinerary in advance and make sure to include some of the Netherlands' top attractions, such as the Rijksmuseum and the Anne Frank House.

    2. Be sure to pack comfortable shoes, as you will do a lot of walking while exploring the Netherlands.

    3. When dining out, try some of the local specialties, such as stroopwafels and Dutch pancakes.

    4. Don't forget to bring your camera, as the Netherlands is home to some truly stunning scenery.

    5. If you are traveling with children, be sure to visit one of the many kid-friendly attractions, such as the Amsterdam zoo.

    Is it safe in Netherlands?

    Yes, the Netherlands is a safe country to visit. It is frequently ranked as one of the safest countries in the world. Crime rates are low, and the people are friendly and welcoming.

     

     

    Expat Money & Business Guide to Netherlands

    Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.

    By following these tips and managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Netherlands.

    What is the cost of living in Netherlands?

    There is no definitive answer to this question as the cost of living in the Netherlands can vary greatly depending on a number of factors, such as where you live, your lifestyle, and your income. However, according to Numbeo, the cost of living in Amsterdam (the capital of the Netherlands) is estimated to be around €2,500 per month for a single person, and €3,500 per month for a family of four.

    How is the expat life in Netherlands?

    The expat life in Netherlands can be both exciting and challenging. There are many opportunities to meet new people and experience different cultures, but there can also be a lot of bureaucratic red tape to navigate.

    Any laws in Netherlands that foreigners should be aware of?

    There are a number of laws in the Netherlands that foreigners should be aware of, including those relating to immigration, work, and housing.

    What is doing business like in Netherlands?

    Some say that doing business in the Netherlands is like peddling uphill in a canoe - slow and tiring. Others disagree and find the Dutch to be hospitable and helpful business partners.

    Both views may be accurate. The Dutch are generally known for being reserved and somewhat formal in their interactions. So, while they may be helpful, they may not always be the easiest people to work with.

    That said, the Netherlands is generally considered to be a good place to do business. It ranks highly in indices like the World Bank's 'ease of doing business' index and the Heritage Foundation's 'Index of Economic Freedom'.

    The Dutch have a long history of trade and commerce, and their society is geared towards supporting businesses and entrepreneurs. The Dutch government also provides a number of incentives and programs to help businesses grow and succeed.

    How is the economy in Netherlands?

    The economy in Netherlands is strong and growing. The country's GDP is $906.9 billion, and its GDP per capita is $53,211. The Netherlands is a member of the European Union, and its currency is the euro. The country's unemployment rate is 4.2%, and its inflation rate is 1.4%.

    Managing your finances in Netherlands

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

    1. 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.

    2. 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 Netherlands. It may also be more convenient to use a local EUR bank account to make purchases and withdraw cash.

    3. Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Netherlands. This can help you avoid legal issues and ensure that you are complying with local requirements.

    4. Consider the tax implications: It is important to understand the tax implications of living or doing business in Netherlands. This can help you plan your finances and ensure that you are paying the correct amount of tax.

    5. Seek financial advice: If you are unsure of how to manage your finances in Netherlands, 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 = 1.0882 USD
    Sell EUR  →  Buy USD
    EUR to USD at 1.0885 is 3.2% above its 90-day average 1.0552 with range 0.9749-1.0916.
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      1 USD = 0.9190 EUR
     
    EURUSD :  no alerts
     

    In early December the dollar dropped to 94 against the euro after rising to a 20-year high of 1.04 in late September, as markets predict that the aggressive interest rates hikes by the Fed to reign in inflation may be over.

    However, due to the Eurozone’s reliance on gas from Russia, the euro will remain vulnerable while Putin’s so called Russian ‘special military operation’ in Ukraine continues.

    USD-EUR Forecasts

    DateEUR/USDChangePeriod
    17 Jan 2023
    1.0792
    0.7% 2 Week
    02 Nov 2022
    0.9814
    10.7% 3 Month
    31 Jan 2022
    1.1229
    3.2% 1 Year
    01 Feb 2018
    1.2511
    13.1% 5 Year
    02 Feb 2013
    1.3624
    20.2% 10 Year
    05 Feb 2003
    1.0834
    0.3% 20 Year
    EUR/USD historic rates & change to 31-Jan-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 Netherlands or planning a trip or maybe living there, so will need to exchange and spend Euro.

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    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.

     

    The Euro is also the domestic currency in 33 other countries.

     

     

     

     

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