If you are planning a trip to the Eurozone you can save significant amounts by using a multi-currency card or order foreign cash online for better currency exchange rates.
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Buy Euros
Best Exchange Rates makes it easy to compare retail FX rates from trusted, regulated currency exchange specialists to use when you Travel and Spend abroad.
Eurozone Euro Forecasts
USD to EUR at 0.9279 is just 0.5% below its 3-month average of 0.9329, having fluctuated within a 4.4% range of 0.9100-0.9504 USD to EUR
FX analysts are forecasting that the US dollar will continue to outperform the euro in March. The US dollar strengthened in February after robust US labor market data and expectations of more interest rate hikes by the US Federal Reserve. On the other hand, the euro lost ground after the ECB held interest rates steady and issued slightly dovish remarks. Additionally, global GDP growth has been sluggish, and inflation pressures have remained elevated, which will continue to be the main drivers of investor risk sentiment and FX markets. Therefore, based on recent FX analyst forecasts, it is likely that the USD will outperform the euro in March, with key support points for EUR/USD at 1.11 and 1.15.
Looking at the USD/EUR price data for the previous three months, the exchange rate has been fluctuating within a 4.4% range of 0.9100-0.9504, with the current rate at 0.9313, just below the three-month average of 0.9331. This indicates that the exchange rate has been relatively stable in recent months, despite the fluctuations. However, it is important to note that factors such as inflation, interest rates, and economic growth can influence exchange rates, and any changes in these factors could impact the USD/EUR exchange rate in March.
GBP to EUR at 1.1346 is just above its 3-month average of 1.1318, having fluctuated within a 2.7% range of 1.1150-1.1451 GBP to EUR
According to recent FX analyst forecasts, the GBP to EUR exchange rate is expected to be influenced by several key drivers in March. While the euro initially rallied at the start of the year, it lost momentum throughout February amid uncertainty surrounding the Eurozone economy and positive US economic data which caused USD to strengthen. The ECB's slightly dovish message after their interest rate decision also contributed to the downturn in GBP to EUR exchange rate. However, analysts anticipate that the ECB may implement another 50bp hike by May to prevent high inflation without stifling growth in the bloc. With economic growth anticipated to be subdued, GBP to EUR is expected to trade between 1.1120 - 1.1500 in March.
Based on the recent 3-month price data for GBP to EUR, the exchange rate is currently above its average of 1.1318, fluctuating within a range of 1.1150 - 1.1451. This suggests a relative sideways movement in the exchange rate over the past three months. However, the various economic drivers, as mentioned earlier, could shift the GBP to EUR exchange rate in either direction in the coming weeks. As such, businesses and individuals who need to make international transactions involving GBP to EUR should keep an eye on these factors and be prepared to act accordingly.
CAD to EUR at 0.6723 is 2.5% below its 3-month average of 0.6895, having fluctuated within a 4.5% range of 0.6710-0.7012 CAD to EUR
CAD to EUR may continue to face downward pressure through March, as recent forecasts by FX analysts suggest. The Canadian dollar has been performing poorly due to lower-than-expected GDP growth and the slow pace of inflation. Furthermore, the elevated central bank rate expectations and the strengthening US dollar are also contributing to the decline in CAD value. As a result, key support points at 0.6720 and 0.6680 may continue to be tested, and we may see CAD to EUR trading between 0.6600 and 0.6950 during this period.
Looking at the CADEUR price data for the previous 3-months, we can see that the current rate of 0.6742 is 2.3% below its 3-month average of 0.6898. This suggests a downward trend for CAD to EUR, which may continue in the short term. However, the rate has fluctuated within a 4.5% range of 0.6710-0.7012, indicating that there may be some volatility in the exchange rate. Therefore, if you're planning on making an international money transfer involving CAD and EUR, it may be advisable to monitor the exchange rate closely to make an informed decision.
AUD to EUR at 0.6173 is 3.2% below its 3-month average of 0.6379, having fluctuated within a 6.8% range of 0.6156-0.6577 AUD to EUR
Based on recent FX analyst forecasts, the outlook for AUD to EUR remains uncertain in March. The Australian dollar has experienced a significant drop in value due to inflation and near-term rate hikes becoming primary drivers, which may continue to put pressure on the AUD. On the other hand, the euro has been affected by the inconsistency of economic data in the Eurozone, with the latest data showing slight growth, but key support points being tested due to a slightly dovish message from the European Central Bank (ECB). Therefore, the AUD to EUR exchange rate is likely to remain volatile in the short term, and it may be wise to monitor the exchange rate closely before making any international transactions.
Looking at the 3-month price data, the AUD to EUR exchange rate has been fluctuating within a 6.8% range of 0.6156-0.6577 and is currently 3.1% below its 3-month average of 0.6381, with the current exchange rate at 0.6180. This indicates a bearish outlook for the AUD to EUR exchange rate, which may continue to be influenced by global economic factors, including inflation and interest rates. Moreover, any new developments on the pandemic and China's economic recovery could also impact the exchange rate. Therefore, it is advisable to remain cautious while making international transactions involving AUD to EUR.
Travel, Currency and Money saving tips for the Eurozone
No destination holds as much variety and cultural difference as Europe. From the sunny south to the snowy north there is no shortage of places to see here. When arriving at any new destination for first time visitors it cant hurt to stop by the Tourist Point to get any free maps, discounts, and cost free events. Most decent hotels have free WiFi so try using this to avoid any suprise Roaming fees on your phone when you get back home. ATM and credit card use varies greatly between countries so purchasing a Pre-paid Travel Card before leaving for your travels can save time and hassle.
If you would like to travel by train and can book a fare way in advance you can save money by getting a pass for Europe's extensive train system that goes pretty much everywhere. You can check prices at sites like RailEurope. To save a lot of travel time and money you can book a sleeper cabin on an overnight train. While travelling across Europe by bus used to be uncomfortable there are now low cost luxury buses available. And now to save even more time at your locations instead of travelling to them, costs for flights have greatly reduced in recent years making it a very affordable and very fast way to get around. Depends on your preference.
The Euro currency is widely used across most of Europe which makes it very convenient, so if you plan to spend most your travel time in Europe try to convert a chunk of currency before you go to get the best rates. It’s a little known fact that the closer you get to the departure gates in any country the worst the currency exchange rates get! In fact travellers can end up paying more than 10% extra if you load up on your overseas currency at airport bureau de change outlets.
If you end up buying your travel money on depature day without pre-ordering online you are most likely wasting some of your money.
How is the Eurozone different to the European Union?
The Eurozone is a monetary union of 19 European Union (EU) member states that have adopted the Euro as their official currency. These countries have agreed to use the Euro as their sole legal tender, and their monetary policies are coordinated by the European Central Bank (ECB).
The Eurozone was established in 1999 with the goal of promoting economic stability and growth, and to facilitate trade and investment between member states. The Eurozone countries are Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain.
The Eurozone countries maintain a high level of economic integration and share a single market, which allows for the free movement of goods, services, and people among member states. This makes it easier for businesses to operate and for people to live and work across different countries.
It's worth noting that not all European Union (EU) member states are part of the Eurozone, for example, Bulgaria, Croatia, Czech Republic, Denmark, Hungary, Poland, Romania, Sweden and United Kingdom are not a part of it.