A practical foreign exchange and currency guide to Saint Pierre and Miquelon
What's in this Saint Pierre and Miquelon currency guide:
The official currency of Saint Pierre and Miquelon is the euro, with symbol € and currency code EUR.
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.
Major banks are forecasting the eurozone common currency to fall again to the $US0.95 level by the end of the year.
This multi-year low for the euro vs the US dollar looks only to worsen as winter approaches; the short term news for the single currency is all negative.
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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.
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.
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.
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.