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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=0.8771]

 
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

11-January-19: 2018 was a mixed year for the euro. A 4.6 percent loss versus the US dollar and a 3 percent loss versus the franc was offset by a near-6 percent gain versus the Australian dollar and small gains against the pound and Canadian dollar.

Risks to the euro in 2019 will include Brexit, slower economic growth and the Italian budget. The main supporting factor is the end of economic stimulus by the ECB, which may or may not be followed by an interest rate hike later in the year.

Forecasts: For the month of January, SEB recommend betting on euro depreciation versus JPY, SEK and NOK on grounds of seasonality.

In the months ahead, EUR/GBP should weaken from levels in the mid-£0.89s (as of January-11) according to Bank of America, since “all pathways are leading to a soft Brexit” — something that would be a shot in the arm to sterling.

For EUR/USD, both Danske Bank and Bank of America retain end-of-year forecasts of $1.25, from rates at the time of writing in the mid-$1.14s. $1.25 represents the equilibrium exchange rate for this pair, BAML researchers said.

The interactive chart below shows the USD to EUR exchange rate for the previous 3 months with rate alerts for days when the exchange rate moved up or down significantly or for 30 day highs and lows.


USD-EUR 3 Month chart
USD-EUR 3 Month chart
USDEUR currency converter

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.

 

Travel Money - Exchange Rate Comparison

Travel Money Providers
Ratings & Reviews
Amount EUR(€)Exchange RateFee USDTotal CostCurrency ServicesDelivery/CollectDeal Links
Wells Fargo Bank logo
821.14 EUR
Value & Rating
0.8379$206.38%Branch-
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
821.07 EUR
€0.07 less
0.8295$106.39%Branch-
U.S. Bank
U.S. Bank logo
821.00 EUR
€0.14 less
0.82106.4%Branch-
 
Travelex Online US logo
805.20 EUR
€16 less
0.80520^8.2%Online order, Branch pickup, Home delivery2-3 days
Wells Fargo Bank: Travel Money USD→EUR
USD amount:$1,000 USD
Fee:$20 USD (Minimum fee)
Exchange Rate:0.8379 (4.47% from mid-rate)
EUR amount:821.14 EUR
Total Cost:6.38%
Time:18:07 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 

Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo

Travel Money USD→EUR
USD amount:$1,000 USD
Fee:$10 USD (1%)
Exchange Rate:0.7675 (12.5% from mid-rate)
EUR amount:821.07 EUR
Total Cost:6.39%
Currency Services:Branch
Delivery/Collect:-
U.S. Bank: Travel Money USD→EUR
USD amount:$1,000 USD
Fee:0
Exchange Rate:0.8210 (6.4% from mid-rate)
EUR amount:821.00 EUR
Total Cost:6.4%
Time:18:07 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:0.8052 (8.2% from mid-rate)
EUR amount:805.20 EUR
Total Cost:8.2%
Time:
Rate Fetched: Wed Jan 16 2019 16:00:04 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
 

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!

 

Foreign Transfers - Exchange Rate Comparison

Foreign Transfer Providers
Ratings & Reviews
Receive EUR(€)Exchange RateFee USDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
OFX logo
8,683 EUR
Value & Rating
0.86830^1%Bank Transfers - Online & Phone1-2 days
 
WorldFirst logo
8,679 EUR
€4 less
0.867901.05%Bank Transfers - Online & Phone1-2 days
Wells Fargo Bank logo
8,502.67 EUR
€180 less
0.8518183.06%Online, Branch, Bank Transfers2-3 days
HSBC logo
8,496.24 EUR
€187 less
0.8509$153.13%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
8,445 EUR
€238 less
0.8494153.72%Online, Branch, Bank Transfers2-3 days
Bank of America
Bank of America logo
8,390.25 EUR
€293 less
0.8475$1004.34%Online, Branch, Bank Transfers2-3 days
U.S. Bank
U.S. Bank logo
8,390.25 EUR
€293 less
0.8475$1004.34%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:0.8683 (1% from mid-rate)
EUR amount:8,683 EUR
Total Cost:1%
Time:
Rate Fetched: Wed Jan 16 2019 16:02:24 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.8/5.0
Reviews:
WorldFirst: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:
Exchange Rate:0.8679 (1.05% from mid-rate)
EUR amount:8,679 EUR
Total Cost:1.05%
Difference:
€4 less than using OFX
Time:18:07 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.6/5.0
Reviews:
Wells Fargo Bank: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:18
Exchange Rate:0.8518 (2.88% from mid-rate)
EUR amount:8,502.67 EUR
Total Cost:3.06%
Difference:
€180 less than using OFX
Time:18:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
HSBC: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:$15 USD (.15%)
Exchange Rate:0.8509 (2.99% from mid-rate)
EUR amount:8,496.24 EUR
Total Cost:3.13%
Difference:
€187 less than using OFX
Time:18:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo

Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:15
Exchange Rate:0.8457 (3.58% from mid-rate)
EUR amount:8,445 EUR
Total Cost:3.72%
Difference:
€238 less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Bank of America: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:0.8475 (3.37% from mid-rate)
EUR amount:8,390.25 EUR
Total Cost:4.34%
Difference:
€293 less than using OFX
Time:18:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
U.S. Bank: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:0.8475 (3.37% from mid-rate)
EUR amount:8,390.25 EUR
Total Cost:4.34%
Difference:
€293 less than using OFX
Time:18:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
 

Popular EUR cross rates


EUR/USD - Euro to United States Dollar - 10 Year History

DateExchange RatePeriodChange
16 Jan 20191.1399Latest
09 Jan 20191.15541 Week-1.34%
17 Dec 20181.13501 Month+0.43%
20 Jul 20181.17326 Months-2.84%
16 Jan 20181.22711 Year-7.11%
16 Jan 20171.06022 Years+7.52%
17 Jan 20141.35405 Years-15.81%
18 Jan 20091.328510 Years-14.2%

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

DateExchange RatePeriodChange
16 Jan 20190.8862Latest
09 Jan 20190.90281 Week-1.84%
17 Dec 20180.89981 Month-1.51%
20 Jul 20180.89336 Months-0.79%
16 Jan 20180.88941 Year-0.36%
16 Jan 20170.88062 Years+0.64%
17 Jan 20140.82445 Years+7.5%
18 Jan 20090.895610 Years-1.05%

EUR/JPY - Euro to Japanese Yen - 10 Year History

DateExchange RatePeriodChange
16 Jan 2019124.0407Latest
09 Jan 2019125.00271 Week-0.77%
17 Dec 2018128.07411 Month-3.15%
20 Jul 2018130.70666 Months-5.1%
16 Jan 2018135.47111 Year-8.44%
16 Jan 2017121.03122 Years+2.49%
17 Jan 2014141.32155 Years-12.23%
18 Jan 2009120.288610 Years+3.12%

EUR/AUD - Euro to Australian Dollar - 10 Year History

DateExchange RatePeriodChange
16 Jan 20191.5879Latest
09 Jan 20191.61041 Week-1.4%
17 Dec 20181.58151 Month+0.4%
20 Jul 20181.58256 Months+0.34%
16 Jan 20181.53961 Year+3.14%
16 Jan 20171.41902 Years+11.9%
17 Jan 20141.54205 Years+2.98%
18 Jan 20091.981910 Years-19.88%

EUR/CAD - Euro to Canadian Dollar - 10 Year History

DateExchange RatePeriodChange
16 Jan 20191.5113Latest
09 Jan 20191.52671 Week-1.01%
17 Dec 20181.52241 Month-0.73%
20 Jul 20181.54286 Months-2.04%
16 Jan 20181.52481 Year-0.89%
16 Jan 20171.39712 Years+8.17%
17 Jan 20141.48375 Years+1.86%
18 Jan 20091.652010 Years-8.52%

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