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Spain - Euro - Currency Guide

 

Foreign exchange guide to Spain and the Euro (EUR)

   

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

EUR will fall to 0.80 against the British pound according to Standard Bank. The coronavirus pandemic has replaced Brexit in the headlines and means that the deadline for a trade deal with the Eurozone this year could either be pushed back, delaying a risk for the currency, or see more favorable terms given to the U.K.

Rabobank told Bloomberg TV in early April that they see the Euro holding its value in an otherwise difficult virus affected year for most currencies.

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 up towards the average rate for the year of US1.12, perhaps due to the less uncertainty around Brexit.

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

   
Recent USD to EUR 90-day trend
 
ALERTS:4-DAY1.9% | 30-DAY LOWS |
USD/EUR at 0.9005 was trading 1.5% below AVG:0.9142 with LO:0.8739 and HI:0.9381 (90 days). ALERTS: USD/EUR was DOWN 1.9% this 4-DAY period and also dropped to 30-DAY LOWS.

US Dollar to Euro - Historical Rates

USD/EURPeriod to 29-MayDateRate
1.8% ▼1 Week22 May 20200.9174
2% ▼30 Days29 Apr 20200.9193
0.7% ▼90 Days29 Feb 20200.9068
0.2% ▲1 Year30 May 20190.8985
1.2% ▼5 Years31 May 20150.9113
10.1% ▲10 Years01 Jun 20100.8179
USD/EUR 10 year rates & changes to 29-May-2020 (0.9005)

US Dollar to Euro - Quick Conversions

USD EUR
U$ 1 0.9005
U$ 5 4.5025
U$ 10 9.0050
U$ 20 18.01
U$ 50 45.03
U$ 100 90.05
U$ 250 225.13
U$ 500 450.25
U$ 1,000 900.50
U$ 2,000 1,801
U$ 5,000 4,503
U$ 10,000 9,005
U$ 50,000 45,025
U$ 100,000 90,050
More amounts
USD EUR
U$ 1.1105 € 1
U$ 5.5525 € 5
U$ 11.11 € 10
U$ 22.21 € 20
U$ 55.53 € 50
U$ 111.05 € 100
U$ 277.63 € 250
U$ 555.25 € 500
U$ 1,111 € 1,000
U$ 2,221 € 2,000
U$ 5,553 € 5,000
U$ 11,105 € 10,000
U$ 55,525 € 50,000
U$ 111,050 € 100,000
More amounts

Frequently Asked Questions

 

What currency should I use in Spain?

The domestic currency in Spain 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 Spain

There’s always an excuse to visit Spain… whether it’s for the glorious sunshine, lazy-day siestas or soaking up those beautiful sights – the whole country is a open book of experiences that are definitely too beautiful to resist. The Pyrenees and the Picos de Europa are as beautiful as any mountain range on the continent, while the snowcapped Sierra Nevada rises up improbably from the sun-baked plains of Andalucía; these are hiking destinations of the highest order. The wildly beautiful cliffs of Spain’s Atlantic northwest are offset by the charming coves of the Mediterranean. And everywhere you go, villages of timeless beauty perch on hilltops, huddle in valleys and cling to coastal outcrops as tiny but resilient outposts of Old Spain. That's where the country's charms are most likely to take hold.

Windswept Roman ruins, cathedrals of rare power and incomparable jewels of Islamic architecture speak of a country where the great civilisations of history have risen, fallen and left behind their indelible mark. One of the best aspects about visiting Spain though is the sheer diversity you can find all across the country – the cultures, food and even languages can change quite dramatically depending on where you find yourself in Spain. This of course only adds to the excitement of visiting and re-visiting Spain as each time afford you the possibility of having a fantastic new experience in a familiar place.

The Spaniards love visitors, hosting strangers, drinking good wine, laughing at a good meal, and enjoying life. A fiery, passionate place, this country will stay withy you forever and, unlike other Western European countries, will be a lot kinder to your wallet.

What currency to use in Spain?

The euro is the only currency accepted in Spain, and it is unlikely you'll be able to use anything else, even in the airport. It may be possible to exchange old Spanish peseta notes in a bank, but the easiest way to get Euros is to use an ATM. ATMs are available  everywhere in the larger cities, in the smaller towns you may have to walk a bit to the nearest one. Pickpocketing is something to watch out for in Spain, so instead of carrying your main credit card on you purchasing a Prepaid Travel Card before leaving home may save unnecessary hassles.

How to get around in Spain?

Most of the major cities have excellent local transport. Madrid and Barcelona have extensive bus and metro systems. Other cities and provincial capitals all have reasonable bus networks. You can buy single tickets on the buses or at estancos (tobacconists), but in cities such as Madrid and Barcelona, you are better off buying combined 10-trip tickets that allow the use of a combination of bus and metro, and which work out cheaper per ride. These can be purchased in any metro station and from some tobacconists and newspaper kiosks.

Most travellers in Spain don’t get city passes, but if you plan to do a lot of city sightseeing, they are a good investment. All the major cities have multiple museums, attractions, and activities. Getting a city pass can save you up to 20% on these activities and get you free transport. If you are going on a sightseeing binge, get the pass!

Madrid has the countries most extensive metro train network, the other cities have reasonable but useful metro trains. The bigger cities have plenty of Taxis, but not so in the smaller towns.

Travel tips for Spain.

There are some pretty beautiful cities in Spain, including but not limited to the amazing; Valencia, Madrid, Barcelona and Granada, but don’t think the cities are all there is to see! The beautiful Mediterranean coast, mountainous Basque region and the plains around Madrid all provide ample stomping ground for us travellers to see and explore a different aspect of this stunning country.

Most people understand at least a little English in Spain, most of the younger generation are fluent.

A siesta is a pretty big deal in Spain… and rightly so! Usually, around 1-4pm, many shops, offices and restaurants will shut their doors for a little afternoon kip. Take advantage of this time to chill-out and relax… or even enjoy a cheeky siesta yourself, after all it’s your holiday!

One thing to note (especially if you’re not from Southern Europe) is that dinner is usually much later than its Northern European neighbours. Dinner will usually start around 10pm for locals and can last a good few hours. Food is not rushed and is an amazing opportunity to socialise until the wee hours in your new local haunt.

 

Travel money for Spain

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.

 
 

USD to EUR - Travel Money & Cards

Provider Amount EUR(€) Exchange RateFee USDDeal Links
891.52
1%
Best Overall
0.896U$5.00
U.S. Bank Foreign Cash
U.S. Bank logo
842.90
6.4%
€49 less
0.84290
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
834.47
7.33%
€57 less
0.842915
Wells Fargo Bank logo
826.04
8.27%
€65 less
0.8429U$20
Travelex Online logo
816.50
9.33%
€75 less
0.81650^
 
loading
TransferWise: Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:U$5.00 USD (0.5% + U$1)
Exchange Rate:0.8960 (-0.5% from mid-rate)
To Amount (EUR)891.52
Total Cost:1%
Time:20:29 Local
Currency Services:Multi-currency debit card with linked foreign bank accounts
Delivery/Collect:5-7 days
Rating:
 
: 4.6/5.0
Reviews:
 
U.S. Bank logo
loading
U.S. Bank: Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:0
Exchange Rate:0.8429 (-6.4% from mid-rate)
To Amount (EUR)842.90
Total Cost:6.4%
Time:20:29 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 
Banks - Average Rate
loading
Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:15
Exchange Rate:0.7879 (-12.5% from mid-rate)
To Amount (EUR)834.47
Total Cost:7.33%
Currency Services:Branch
Delivery/Collect:-
 
Wells Fargo Bank logo
loading
Wells Fargo Bank: Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:U$20 USD (Minimum fee)
Exchange Rate:0.8429 (-6.4% from mid-rate)
To Amount (EUR)826.04
Total Cost:8.27%
Time:20:29 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 
loading
Travelex Online: Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:0.8165 (-9.33% from mid-rate)
To Amount (EUR)816.50
Total Cost:9.33%
Time:
Rate Fetched: Sat May 30 2020 20:15:03 GMT+0000 (UTC)
Currency Services:FREE Home delivery & Branch pickup
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 
loading
Snapshot 05/30/2020 - View live rates

Sending money to Spain

When searching around for information on how to get a good exchange rate when sending money to Spain you need to start with finding out the latest Euro foreign-transfer exchange 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 here).

Buying Property in Spain

Overseas buyers investing more than 500,000Euros in Spanish property are automatically eligible for a residency visa.

For non-EU citizen purchasers, permission for permanent residence can be obtained by opening a spanish bank account with more than US$150,000 and owning a business.

Look to spend 8-14% of the property value on buying costs, with legal fee around an additional 2%.


Get a better deal for foreign transfers to Spain

When sending money to Spain 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 Spain.

Use our 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!

 

USD to EUR International Money Transfers

Foreign Transfer Provider Receive EUR(€) Exchange RateFee USDDeal Links
XE logo
887.00
1.5%
Best Overall
0.8870
OFX logo
893.30
0.8%
€6.3 more
0.89330^
HSBC logo
861.91
4.29%
€25 less
0.8632U$1.50
U.S. Bank International Money Transfers
U.S. Bank logo
859.70
4.53%
€27 less
0.85970
Bank of America International Money Transfers
Bank of America logo
846.80
5.96%
€40 less
0.8597U$15
Wells Fargo Bank logo
846.82
5.96%
€40 less
0.8641U$20
Banks - Average Rate
U.S. Bank logo Bank of America logo HSBC logo Wells Fargo Bank logo
853.81
5.19%
€33 less
0.861715
 
loading
XE: Foreign Transfer USD→EUR
From Amount (USD)U$1,000
Fee:
Exchange Rate:0.8870 (1.5% from mid-rate)
To Amount (EUR)887.00
Total Cost:1.5%
Time:20:29 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 3.5/5.0
Reviews:
 
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OFX: Foreign Transfer USD→EUR
From Amount (USD)U$1,000
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:0.8933 (0.8% from mid-rate)
To Amount (EUR)893.30
Total Cost:0.8%
Difference:
€6.3 EUR more than using XE
Time:
Rate Fetched: 20:29 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 
HSBC logo
loading
HSBC: Foreign Transfer USD→EUR
From Amount (USD)U$1,000
Fee:U$1.50 USD (.15%)
Exchange Rate:0.8632 (4.14% from mid-rate)
To Amount (EUR)861.91
Total Cost:4.29%
Difference:
€25 EUR less than using XE
Time:20:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
U.S. Bank logo
loading
U.S. Bank: Foreign Transfer USD→EUR
From Amount (USD)U$1,000
Fee:0
Exchange Rate:0.8597 (4.53% from mid-rate)
To Amount (EUR)859.70
Total Cost:4.53%
Difference:
€27 EUR less than using XE
Time:20:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Bank of America logo
loading
Bank of America: Foreign Transfer USD→EUR
From Amount (USD)U$1,000
Fee:U$15 USD (Minimum fee)
Exchange Rate:0.8597 (4.53% from mid-rate)
To Amount (EUR)846.80
Total Cost:5.96%
Difference:
€40 EUR less than using XE
Time:20:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Wells Fargo Bank logo
loading
Wells Fargo Bank: Foreign Transfer USD→EUR
From Amount (USD)U$1,000
Fee:U$20 USD (Minimum fee)
Exchange Rate:0.8641 (4.04% from mid-rate)
To Amount (EUR)846.82
Total Cost:5.96%
Difference:
€40 EUR less than using XE
Time:20:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Banks - Average Rate
loading
Foreign Transfer USD→EUR
From Amount (USD)U$1,000
Fee:15
Exchange Rate:0.8579 (4.73% from mid-rate)
To Amount (EUR)853.81
Total Cost:5.19%
Difference:
€33 EUR less than using XE
Transfer Speed:
Services:
 
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Snapshot 05/30/2020 - View live rates

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