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Portugal - Euro - Currency Guide

 

Foreign exchange guide to Portugal and the Euro (EUR)

     

USD/EUR 90-day view

USD/EUR at 0.8446 is 2.1% below its 90-DAY average, range 0.8378 - 0.8945 .
|
1-DAY0.6% (2d)14-DAY-LOW (1d)
 
Recent USD to EUR 90-day trend

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

The euro is currently a more appealing investment than the US dollar as fiscal support and COVID-19 containment open the door to a faster paced recovery than what is likely in the US. With current USD weakness and strong long-term prospects for the European Union, there is speculation that the euro could be a contender as the world’s new reserve currency. In the short term the euro could be susceptible to swings, however in the longterm the euro has very good prospects. The currency is poised to move above 1.1850 and extend toward 1.20 in coming weeks.

In mid-July euro strengthened four-month highs (around 1.15 against the US dollar) as european leaders delivered a difficult agreement on a coronavirus rescue package to help member states manage the economic downturn.

The historic stimulus package will see the bloc issue 750 billion euros (US$860 billion) of joint debt and is seen by market commentators as positive for the euro.

The Euro spent 2019 on a downwards trajectory, starting the year with highs at US1.1550 but then slid all year until October where it bottomed out at US$1.09 on Oct 1, close to long-term lows. Since then it has climbed back over the 1 year average of US1.11 towards US1.20.

For more EUR currency market forecasts you can read the full article Euro Forecasts. The above interactive chart shows the USD to EUR exchange rate, trend and recent alerts for the last 90 days.

US Dollar to Euro - Historical Rates

USD/EUR rateChangePeriod
11 Sep 2020 : 0.84420% ▲1 Week
19 Aug 2020 : 0.84430% ▲30 Days
20 Jun 2020 : 0.89475.6% ▼90 Days
19 Sep 2019 : 0.90546.7% ▼1 Year
20 Sep 2015 : 0.88574.6% ▼5 Years
21 Sep 2010 : 0.758311.4% ▲10 Years

USD/EUR 10 year historic rates & change to 18-Sep-2020 : 0.8446

 

U$10,000 USD
=
€8,446 EUR

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

US Dollar to Euro - Quick Conversions

USD EUR
U$ 1 0.8446
U$ 5 4.2230
U$ 10 8.4460
U$ 20 16.89
U$ 50 42.23
U$ 100 84.46
U$ 250 211.15
U$ 500 422.30
U$ 1,000 844.60
U$ 2,000 1,689
U$ 5,000 4,223
U$ 10,000 8,446
U$ 50,000 42,230
U$ 100,000 84,460
More amounts
USD EUR
U$ 1.1840 € 1
U$ 5.9200 € 5
U$ 11.84 € 10
U$ 23.68 € 20
U$ 59.20 € 50
U$ 118.40 € 100
U$ 296.00 € 250
U$ 592.00 € 500
U$ 1,184 € 1,000
U$ 2,368 € 2,000
U$ 5,920 € 5,000
U$ 11,840 € 10,000
U$ 59,200 € 50,000
U$ 118,400 € 100,000
More amounts
 

Frequently Asked Questions

 

What currency should I use in Portugal?

The domestic currency in Portugal 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 Portugal

Portugal has been popular with European vacationers. Beaches and high mountains aside, the rest of Portugal is a diverse and verdant country of deep valleys and rolling hills dotted with stone-built villages. The country has with excellent sandy beaches and rugged coastline, as well as cosmopolitan and architecturally-stunning cities. Portugal is an affordable city, prices don't go to high and you can sleep comfortably and eat cheaply with ease.

A city metro ticket will generally start from 1.50 EUR. Inter-country trains and buses are inexpensive. Food, accommodation, wine is all very cheap, especially when compared to other EU countries. Taxis are a expensive way of getting around.

 

Travel money for Portugal

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.

 

Sending money to Portugal

When searching around for information on how to get a good exchange rate when sending money to Portugal you need to start with finding out the latest Euro exchange rate for foreign-transfers, which can be very different to the wholesale rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save - we make that calculation easy in the below table.


Get a better deal for foreign transfers to Portugal

When sending money to Portugal 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 Portugal.

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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