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    Currency in Reunion – Euro EUR

    A practical foreign exchange and currency guide to Reunion

     

    What currency is used in Reunion?

    The official currency of Reunion 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.

     

    What the euro looks like?

     

     

     

    Euro – Markets & Rates

    1 EUR = 1.0562 USD
    Sell EUR  →  Buy USD
    EUR to USD at 1.0558 is 2.8% below its 90-day average 1.0864 with range 1.0381-1.1325.
    |
      1 USD = 0.9467 EUR
     
    4-DAY+1.5%
    14-DAYHIGH

    Euro - Trend & Outlook

    As the tragic Ukraine war continues USD/EUR is near 0.95, a 5 year high.

    Due to the Eurozone’s reliance on gas from Russia, the euro is very vulnerable to the events in Ukraine with EUR/USD dropping to around 1.06 by the end of April whereas it had been approaching 1.15 in early February.

     USD-EUR Forecasts


    At the start of the tragic Russian invasion of Ukraine the euro sank to parity against the safe-haven Swiss franc hitting 0.9985 francs per euro on March 7th, the lowest since January 2015.

    By the end of April the euro fell to a 5-Year low around 1.05 against the US dollar and the short term news for the single currency is all negative. Global bans against Russian oil and gas and uncertainty over ECB interest rate plans have prompted predictions in the currency markets for parity for the euro against the greenback this year.

     EUR Outlook

    DateEUR/USDChangePeriod
    05 May 2022
    1.0540
    0.4% 2 Week
    18 Feb 2022
    1.1322
    6.5% 3 Month
    19 May 2021
    1.2171
    13% 1 Year
    20 May 2017
    1.1208
    5.5% 5 Year
    21 May 2012
    1.2788
    17.2% 10 Year
    24 May 2002
    0.9210
    14.9% 20 Year
    EUR/USD change over periods to 19-May-2022

     

     

    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 a Transfer or Spend Euro.

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    Travelling to Reunion

    Reunion holds a multitude of records and notable features that should have made it world famous. Instead, it remains an undiscovered secret among all but the French, who claim it as a part of their own country. This volcanic island is covered in large craters. So large, in fact, that entire villages can be found inside them. A visit to Cirque de Cilaos caldera, taking the one road in and out of the crater, offers a glimpse into a completely different world to the beaches and cliffs of the coastline. Inside, the climate changes completely, the temperature dropping and rocky scrub giving way to lush rainforest interspersed with spectacular waterfalls.

    How do I get around in Reunion?

    Réunion’s major towns and many of the little ones in between are linked by bus, as there are no trains operating on Réunion.. The island’s bus service is known as Car Jaune (www.carjaune.re) and has distinctive yellow buses. The main bus station is on Blvd Lancastel on the St-Denis seafront. Buses on most routes run between about 6am and 7pm, with a limited number of services on Sunday. You can pay the driver as you board. To get the bus to stop, you ring the bell or clap your hands twice loudly.

    Car Jaune provides regional minibus services for several areas on the island; they run from St-Benoît, St-Joseph, Ste-Rose, St-Leu and St-Paul. These convoluted local routes can be fairly confusing, particularly if you don’t speak much French. There is no boat network in Réunion.

    Taxis are available, but with the relative lack of other transportation in Réunion, they can be rather expensive. It is not uncommon to be asked to pay outrageous prices, especially at night. Nevertheless, taxis are a reliable and safe way to get around cities like Saint-Denis. Even though boats are not frequently used to get around the island, getting to the island of Réunion by boat is possible. The ferries from Mauritius Trochetia and Mauritius Pride depart from the island of Mauritius several times a week, stopping at both Madagascar and Réunion during their journeys.

    Travel tips for Reunion.

    Putting even Hawaii to shame, the infrastructure on Reunion is incredible. The wide roads are smooth, straight and fast. Although the traffic in the island’s main town can be quite bad, once you’re outside the city you can zoom about at speed, on smooth modern roads. Saint-Denis, the island’s capital, has a population of 158,139. This makes it the 21st largest French city. With its French colonial architecture and lush gardens, it could give Singapore a run for its money in terms of being a green, clean and manicured island city. This French overseas territory offers a fascinating jumble of Creole, African, Indian, Chinese and French influences that was created by centuries of immigration, and there’s a casual multi-ethnic atmosphere. Cultural diversity forms an integral component of the island’s social fabric. There’s a wealth of architectural treasures, historic sites, delightful religious and colonial buildings and vibrant festivals that are a great occasion to immerse oneself in local culture.

     

    The Euro is also the domestic currency in 32 other countries.

     

     

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