Saint Pierre and Miquelon - Euro - Currency Guide

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

Swiss bank UBS see the EUR/USD rate to rise near 1.27 by the end of 2021 as the world recovers from the pandemic and has less need for USD as a safe haven.

Get more details in the article Euro Forecasts.

For more EUR currency market forecasts you can read the full article Euro Forecasts.

Travel, Currency and Money saving tips for Saint Pierre and Miquelon

A trip to the French islands of Saint-Pierre and Miquelon is a must for anyone planning travel in eastern Newfoundland. With a piece of Europe just 20 km from the province’s southern coast, why wouldn’t you plan an international trip? That being said, a visit to the archipelago does require some preparation. The islands of St-Pierre and Miquelon aren't just French-like with their berets, baguettes and Bordeaux, they are France, governed and financed by the tricolore. St-Pierre is the more populated and developed island, with most of its 5500 residents living in the town of St-Pierre. Miquelon is larger geographically but has only 600 residents overall.

Jacques Cartier claimed the islands for France in 1536, after they were discovered by the Portuguese in 1520. At the end of the Seven Years' War in 1763, the islands were turned over to Britain, only to be given back to France in 1816. And French they've remained ever since.

How to travel Saint Pierre and Miquelon?

Air St-Pierre flies to St John's, Montréal and Halifax. There are two to three flights weekly to each city. Taxis to/from the airport cost around €5. From Fortune on Newfoundland, the St-Pierre Ferry makes the hour-long trip to and from the island once daily (twice on Wednesdays) in July and August. It runs less often the rest of the year. Departure times vary, so check the website. Boats carry foot passengers only, though plans are in the works for two car ferries.

Much can be seen on foot. Roads are steep outside of town, so prepare to huff and puff. Car-rental agencies are resistant to renting to tourists, who admittedly have difficulty navigating the unsignposted, narrow, one-way streets. The visitor center rents bicycles (per day €13) and there are also motorized bicycles for rent. Local ferries head to Miquelon and Langlade; check with the visitor center for schedules and costs.

Travel tips for Saint Pierre and Miquelon.

Just like in Europe, the winding narrow streets of Saint-Pierre are filled with vibrant shops and must-try restaurants – the key is finding them all! The town of Saint-Pierre isn’t zoned out like many cities in Canada, meaning that you may find the perfect souvenir in a tiny shop tucked among houses on a seemingly residential street. Saint-Pierre’s size makes it easy to explore by foot, so be sure to put on your walking shoes and meander down every possible street.

The archipelago is a relatively small region that hosts a fair number of tourists each season. As a result, accommodations are limited, and it can even be a challenge to find supper during the height of summer, if you're not prepared! Plan your trip as far in advance as possible, and book accommodations, excursions, and dinner reservations as soon as you’ve decided on dates. Getting the logistics sorted out early means you'll be able to experience everything you want to, without worry.

Travel money for Saint Pierre and Miquelon

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.

Send Money to Saint Pierre and Miquelon - Best Rates

To get a good (and fair) exchange rate when sending money to Saint Pierre and Miquelon 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 Saint Pierre and Miquelon

When sending money to Saint Pierre and Miquelon 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 Saint Pierre and Miquelon.

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!