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Foreign Exchange Guide to the Eurozone

Read this currency guide to the Eurozone with money transfer and travel tips.   [USD/EUR=0.8959]

 
Eurozone
Country Code:
EU
Domestic Currency:
Euro
Symbol - Code:
€ EUR

This is a foreign exchange guide to the Eurozone, the Euro currency plus EUR transfers and travel tips.


In this the Eurozone currency guide we take a look at :

  1. Euro info - general info about the Euro
  2. Euro in the markets - recent EUR moves and predictions from the FX markets
  3. Travelling in the Eurozone - currency & money saving tips
  4. Buying Euro cash online - travel money for the Eurozone
  5. Sending money to the Eurozone - save on Euro bank transfers to the Eurozone
  6. Euro exchange rates - latest & historic exchange rates.
  7. EUR News - the latest Euro related articles from our blog.

Euro (EUR) general currency information


What is the Euro currency code and symbol?

The three letter currency code for the Euro is EUR and the 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.

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.


Euro (EUR) in the markets

Against the dollar and pound, the euro remains weak: rates between $1.11 and $1.12 haven’t been seen since June 2017, and a rate of £0.85 was only half a percent above a new 2-year low. The euro fared better against the Australian dollar, with EUR/AUD rates slightly above 2018’s average at A$1.595.

Euro weakness has been driven by Brexit uncertainties (a “flextension” means that Brexit has been pushed back until October) and has followed March’s meeting of the ECB, at which the central bank said it will not raise interest rates until 2020 as part of an effort to lift the eurozone economy out of this “period of continued [economic] weakness.”

For more details read the full article Euro Forecasts.

The interactive chart below shows the USD to EUR exchange rate and trend for the previous 3 months:

Travel, Currency and Money saving tips for the Eurozone

 

When arriving at any new destination for first time visitors it can't 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 surprise Roaming fees on your phone when you get back home. ATM and credit card use varies greatly between countries so purchasing a prepaid 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.

For more travel tips and ideas on ways to save money when traveling in the Eurozone read our EU Travel guide

 

Travel money for the Eurozone

 

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.

 
Sending a LARGER foreign transfer? Request a Multi-Vendor Quote ▾
Travel Money ProvidersAmount EUR(€)Exchange RateFee USDTotal CostCurrency ServicesDelivery/CollectDeal Links
U.S. Bank Foreign Currency
U.S. Bank logo
839.30 EUR
Compare
0.839306.39%Branch-
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
830.91 EUR
8.39 EUR
0.8393$107.33%Branch-
Wells Fargo Bank logo
822.51 EUR
17 EUR
0.8393$208.26%Branch-
Travelex Online US logo
815.70 EUR
24 EUR
0.81570^9.02%Online order, Branch pickup, Home delivery2-3 days
 

U.S. Bank logoU.S. Bank

U.S. Bank: Travel Money USD→EUR
USD amount:$1,000 USD
Fee:0
Exchange Rate:0.8393 (6.39% from mid-rate)
EUR amount:839.30 EUR
Total Cost:6.39%
Time:6:00 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Travel Money USD→EUR
USD amount:$1,000 USD
Fee:$10 USD (1%)
Exchange Rate:0.7845 (12.5% from mid-rate)
EUR amount:830.91 EUR
Total Cost:7.33%
Currency Services:Branch
Delivery/Collect:-
 

Wells Fargo Bank logoWells Fargo Bank

Wells Fargo Bank: Travel Money USD→EUR
USD amount:$1,000 USD
Fee:$20 USD (Minimum fee)
Exchange Rate:0.8393 (6.39% from mid-rate)
EUR amount:822.51 EUR
Total Cost:8.26%
Time:6:00 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
Travelex Online US: Travel Money USD→EUR
USD amount:$1,000 USD
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:0.8157 (9.02% from mid-rate)
EUR amount:815.70 EUR
Total Cost:9.02%
Time:
Rate Fetched: Wed May 22 2019 04:00:04 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 
05/22/2019
 

the Eurozone Trip Checklist    

 
  1. Compare EUR travel cash rates - probably why you are here!
  2. Search Hotel deals- save on your accommodation costs
  3. Lonely Planet - world's best travel guide (coupon and deals)

Sending money to the Eurozone

When searching around for information on how to get a good exchange rate when sending money to the Eurozone 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).


Get a better deal for foreign transfers to the Eurozone

When sending money to the Eurozone 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 the Eurozone.

Use our Send to EUR 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!

 
Sending a LARGER foreign transfer? Request a Multi-Vendor Quote ▾

USD-EUR Foreign Transfers

  

Foreign Transfer ProvidersReceive EUR(€)Exchange RateFee USDTotal CostTransfer ServicesTransfer SpeedDeal Links
OFX logo
8,865 EUR
Best Overall
0.88650^1.13%Bank Transfers - Online & Phone, Foreign Currency Accounts1-2 days
TransferWise logo
8,911.32 EUR
46 EUR
0.8957$510.61%Bank Transfers - Online, Foreign Currency Accounts1-2 days
Wells Fargo Bank logo
8,681.35 EUR
184 EUR
0.8697183.17%Online, Branch, Bank Transfers2-3 days
HSBC logo
8,674.97 EUR
190 EUR
0.8688$153.25%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
8,622 EUR
243 EUR
0.8672153.84%Online, Branch, Bank Transfers2-3 days
Bank of America International Money Transfers
Bank of America logo
8,565.48 EUR
300 EUR
0.8652$1004.47%Online, Branch, Bank Transfers2-3 days
U.S. Bank International Money Transfers
U.S. Bank logo
8,565.48 EUR
300 EUR
0.8652$1004.47%Online, Branch, Bank Transfers2-3 days
 
OFX: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:0.8865 (1.13% from mid-rate)
EUR amount:8,865 EUR
Total Cost:1.13%
Time:
Rate Fetched: Wed May 22 2019 04:02:20 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
TransferWise: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:$51 USD (0.5% + $1)
Exchange Rate:0.8957 (0.1% from mid-rate)
EUR amount:8,911.32 EUR
Total Cost:0.61%
Difference:
46 EUR more than using OFX
Time:6:00 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online, Foreign Currency Accounts
Rating:
 
: 4.6/5.0
Reviews:
 

Wells Fargo Bank logoWells Fargo Bank

Wells Fargo Bank: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:18
Exchange Rate:0.8697 (3% from mid-rate)
EUR amount:8,681.35 EUR
Total Cost:3.17%
Difference:
184 EUR less than using OFX
Time:6:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

HSBC logoHSBC

HSBC: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:$15 USD (.15%)
Exchange Rate:0.8688 (3.1% from mid-rate)
EUR amount:8,674.97 EUR
Total Cost:3.25%
Difference:
190 EUR less than using OFX
Time:6:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:15
Exchange Rate:0.8634 (3.7% from mid-rate)
EUR amount:8,622 EUR
Total Cost:3.84%
Difference:
243 EUR less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

Bank of America logoBank of America

Bank of America: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:0.8652 (3.5% from mid-rate)
EUR amount:8,565.48 EUR
Total Cost:4.47%
Difference:
300 EUR less than using OFX
Time:6:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

U.S. Bank logoU.S. Bank

U.S. Bank: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:0.8652 (3.5% from mid-rate)
EUR amount:8,565.48 EUR
Total Cost:4.47%
Difference:
300 EUR less than using OFX
Time:6:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
05/22/2019
 

EUR/USD - Euro to United States Dollar - Historical Rates

PeriodChange*EUR/USDDate
1 Day-0.05%1.116820 May 2019
1 Week-0.37%1.120314 May 2019
1 Month-0.74%1.124521 Apr 2019
6 Months-2.11%1.140322 Nov 2018
1 Year-5.33%1.179021 May 2018
5 Years-18.26%1.365622 May 2014
10 Years-20.23%1.399223 May 2009

*For period to 21-May 21UTC when EUR/USD was 1.1162

EUR/GBP - Euro to British Pound Sterling - 10 Year History

PeriodChange*EUR/GBPDate
1 Day+0.13%0.877420 May 2019
1 Week+1.21%0.868014 May 2019
1 Month+1.5%0.865521 Apr 2019
6 Months-0.79%0.885522 Nov 2018
1 Year+0.08%0.877821 May 2018
5 Years+8.51%0.809622 May 2014
10 Years-0.09%0.879323 May 2009

*For period to 21-May 21UTC when EUR/GBP was 0.8785

EUR/AUD - Euro to Australian Dollar - Historical Rates

PeriodChange*EUR/AUDDate
1 Day+0.48%1.613820 May 2019
1 Week+0.41%1.614914 May 2019
1 Month+3.08%1.573121 Apr 2019
6 Months+3.1%1.572722 Nov 2018
1 Year+4.28%1.555021 May 2018
5 Years+9.55%1.480222 May 2014
10 Years-9.08%1.783523 May 2009

*For period to 21-May 21UTC when EUR/AUD was 1.6215

EUR/CAD - Euro to Canadian Dollar - Historical Rates

PeriodChange*EUR/CADDate
1 Day-0.22%1.499520 May 2019
1 Week-0.79%1.508114 May 2019
1 Month-0.57%1.504821 Apr 2019
6 Months-0.53%1.504222 Nov 2018
1 Year-0.68%1.506421 May 2018
5 Years+0.54%1.488122 May 2014
10 Years-4.83%1.572123 May 2009

*For period to 21-May 21UTC when EUR/CAD was 1.4962


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