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 0.9186 is 3.1% below its 90-day average 0.9483 with range 0.9161-1.0257. USD to EUR
In early December the dollar dropped to 94 against the euro after rising to a 20-year high of 1.04 in late September, as markets predict that the aggressive interest rates hikes by the Fed to reign in inflation may be over.
However, due to the Eurozone’s reliance on gas from Russia, the euro will remain vulnerable while Putin’s so called Russian ‘special military operation’ in Ukraine continues.
GBP to EUR at 1.1315 is 1.1% below its 90-day average 1.1443 with range 1.1253-1.1673. GBP to EUR
In October, the GBP/EUR rate is still well down from the 1.20 levels, seen at the start of the year, to the 1.13-15 levels (1 EUR = 0.88 GBP).
This is some achievement given the Euro itself has been under heavy pressure itself from impact on gas prices by the war in Ukraine.
The BoE’s (UK central bank) gloomy economic forecasts has also increased pressure on Sterling.
CAD to EUR at 0.6910 is 1.8% below its 90-day average 0.7037 with range 0.6841-0.7462. CAD to EUR
In the final quarter of the year CAD/EUR is trading around the 0.74-0.76 level, this a few percent down from the start of the year.
The effect of Ukraine crisis on energy prices hurts the euro and helps the gas and oil exporting Canadian dollar.
AUD to EUR at 0.6500 is 1.1% above its 90-day average 0.6432 with range 0.6287-0.6577. AUD to EUR
AUD/EUR reached a 5-year high in late August near 0.70, but has fallen back below 0.64/0.65 into 2023 – more due to AUD weakness than euro strength.
With the Eurozone’s reliance on gas from Russia, the euro remains vulnerable with Putin’s so called Russian ‘special military operation’ in Ukraine.
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.