Currency in Reunion EUR - Things to know
Foreign exchange guide to Reunion and the Euro
What's in this Reunion currency guide?
What currency is used in Reunion?
The official currency of Reunion (country code: RE) 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.
Travel money for Reunion
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.
Travel Ideas and Money Tips for 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.EUR/USD Market Data
The below interactive chart displays the EUR/USD trend and UP▲ DOWN▼ HIGH▲ LOW▼ alerts
Frequently Asked Questions
What currency should I use in Reunion?
The domestic currency in Reunion 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, Croatia, 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 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 USD and EUR?
Converted at USD/EUR interbank rate, compare Send Money and Currency Exchange exchange rates.
Send Money to Reunion - Best Rates
To get a good (and fair) exchange rate when sending money to Reunion 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 Reunion
When sending money to Reunion 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 :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Euro amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted EUR amount will be transfered to the recipient account you specify in Reunion.
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!
