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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=0.8793]

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

The euro fell on October-8, the day of this report, to 7-week and 3 ½-month lows against the dollar and pound respectively. It was strong against the Antipodes, however — it struck a 3-year high against the New Zealand dollar. Exchange rates at the time of writing were $1.146, £0.878 and N$1.793.

Eurozone monetary policy has been dull since the ECB signalled in June it would leave interest rates unchanged until the latter stages of 2019, which has left Brexit, Italian politics and a Turkish lira currency crisis to drive euro FX rates in recent months.

Recent weakness versus the dollar reflects changes in the outlook for US inflation and interest rates (now expected higher), and against the pound, reflects a growing estimation that the UK and EU will strike a deal on Brexit (the euro rises strongly against the pound whenever the likelihood of “no deal” is increased).

In October, ING forecast EUR/USD 9-13 percent higher by the middle of 2019, at rates between $1.25 and $1.30. ING’s principal reason for euro optimism related to monetary policy: in 2019, the bank believes the market will begin to price in interest rate hikes that will come in the fourth quarter.

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.

 

Compare USD to EUR Travel Money Exchange Rates vs the Banks

USD $1,000 → Spend Euro (EUR) Settings - Currency/Amount

ProvidersAmount EURExchange RateCostReviewsDeals Links
Travelex Online US logoTravelex Online US
€795.60 EUR
Top Provider
0.79569.57%
 
HSBC logoHSBC
€787.60 EUR
€8 less
0.787610.48%
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo HSBC logo
€777.05 EUR
€19 less
0.782311.68%
Wells Fargo Bank logoWells Fargo Bank
€771.85 EUR
€24 less
0.787612.27%
U.S. Bank logoU.S. Bank
€771.70 EUR
€24 less
0.771712.29%
Travelex Online US fee breakdown & reviews
USD amount:$1,000 USD
Fee:$0
Exchange Rate:0.7956 (9.57% from mid-rate)
EUR amount:€795.60 EUR
Total Cost:9.57%
Time:
Rate Fetched: Tue Nov 20 2018 16:00:05 GMT+0000 (UTC)
Rating:
 
: 4.3/5.0
Reviews:
HSBC fee breakdown & reviews
USD amount:$1,000 USD
Fee:$0
Exchange Rate:0.7876 (10.48% from mid-rate)
EUR amount:€787.60 EUR
Total Cost:10.48%
Time:18:07 Local
Rating:
: /5.0
Reviews:
 

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

Banks - Average Rate
USD amount:$1,000 USD
Fee:$10 USD (1%)
Exchange Rate:0.7698 (12.5% from mid-rate)
EUR amount:€777.05 EUR
Total Cost:11.68%
Wells Fargo Bank fee breakdown & reviews
USD amount:$1,000 USD
Fee:$20 USD (Minimum fee)
Exchange Rate:0.7876 (10.48% from mid-rate)
EUR amount:€771.85 EUR
Total Cost:12.27%
Time:18:07 Local
Rating:
: /5.0
Reviews:
U.S. Bank fee breakdown & reviews
USD amount:$1,000 USD
Fee:$0
Exchange Rate:0.7717 (12.29% from mid-rate)
EUR amount:€771.70 EUR
Total Cost:12.29%
Time:18:07 Local
Rating:
: /5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Cost is provider fees + exchange rate margin vs USD/EUR mid-rate: 0.8798
Rates @ 11/20/2018
 

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!

 

Compare USD to EUR Foreign Transfers vs the Banks

Send USD $10,000 → EUR Settings - Currency/Amount

ProvidersAmount EURExchange RateCostReviewsDeals Links
OFX logoOFX
€8763.00 EUR
Top Provider
0.87630.4%
 
HSBC logoHSBC
€8534.00 EUR
€229 less
0.85343%
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
€8307.37 EUR
€456 less
0.83535.58%
Wells Fargo Bank logoWells Fargo Bank
€8305.02 EUR
€458 less
0.8325.6%
Bank of America logoBank of America
€8195.22 EUR
€568 less
0.82786.85%
U.S. Bank logoU.S. Bank
€8195.22 EUR
€568 less
0.82786.85%
 
OFX fee breakdown & reviews
USD amount:$10,000 USD
Fee:$0
Exchange Rate:0.8763 (0.4% from mid-rate)
EUR amount:€8763.00 EUR
Total Cost:0.4%
Time:
Rate Fetched: 18:07 Local
Rating:
 
: 4.8/5.0
Reviews:
HSBC fee breakdown & reviews
USD amount:$10,000 USD
Fee:0
Exchange Rate:0.8534 (3% from mid-rate)
EUR amount:€8534.00 EUR
Total Cost:3%
Difference:
€229 EUR less than using OFX
Time:18:07 Local
Rating:
: /5.0
Reviews:
 

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

Banks - Average Rate
USD amount:$10,000 USD
Fee:$15
Exchange Rate:0.8261 (6.1% from mid-rate)
EUR amount:€8307.37 EUR
Total Cost:5.58%
Difference:
€456 EUR less than using OFX
Wells Fargo Bank fee breakdown & reviews
USD amount:$10,000 USD
Fee:$18
Exchange Rate:0.8320 (5.43% from mid-rate)
EUR amount:€8305.02 EUR
Total Cost:5.6%
Difference:
€458 EUR less than using OFX
Time:18:07 Local
Rating:
: /5.0
Reviews:
Bank of America fee breakdown & reviews
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:0.8278 (5.91% from mid-rate)
EUR amount:€8195.22 EUR
Total Cost:6.85%
Difference:
€568 EUR less than using OFX
Time:18:07 Local
Rating:
: /5.0
Reviews:
U.S. Bank fee breakdown & reviews
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:0.8278 (5.91% from mid-rate)
EUR amount:€8195.22 EUR
Total Cost:6.85%
Difference:
€568 EUR less than using OFX
Time:18:07 Local
Rating:
: /5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Cost is provider fees + exchange rate margin vs USD/EUR mid-rate: 0.8798
Rates @ 11/20/2018
 

Major EUR cross rates


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

DateExchange RatePeriodChange
20 Nov 20181.1406Latest
13 Nov 20181.13131 Week+0.82%
21 Oct 20181.15111 Month-0.91%
24 May 20181.17226 Months-2.7%
20 Nov 20171.17381 Year-2.83%
20 Nov 20161.05832 Years+7.78%
21 Nov 20131.34815 Years-15.39%
22 Nov 20081.255210 Years-9.13%

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

DateExchange RatePeriodChange
20 Nov 20180.8898Latest
13 Nov 20180.86921 Week+2.37%
21 Oct 20180.88091 Month+1.01%
24 May 20180.87596 Months+1.59%
20 Nov 20170.88631 Year+0.39%
20 Nov 20160.85852 Years+3.65%
21 Nov 20130.83235 Years+6.91%
22 Nov 20080.843510 Years+5.49%

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

DateExchange RatePeriodChange
20 Nov 2018128.4188Latest
13 Nov 2018128.73231 Week-0.24%
21 Oct 2018129.45491 Month-0.8%
24 May 2018128.14016 Months+0.22%
20 Nov 2017132.11321 Year-2.8%
20 Nov 2016117.49222 Years+9.3%
21 Nov 2013136.06985 Years-5.62%
22 Nov 2008119.266210 Years+7.67%

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

DateExchange RatePeriodChange
20 Nov 20181.5719Latest
13 Nov 20181.56481 Week+0.45%
21 Oct 20181.61821 Month-2.86%
24 May 20181.54846 Months+1.52%
20 Nov 20171.55381 Year+1.16%
20 Nov 20161.44572 Years+8.73%
21 Nov 20131.46015 Years+7.66%
22 Nov 20082.006210 Years-21.65%

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

DateExchange RatePeriodChange
20 Nov 20181.5092Latest
13 Nov 20181.49601 Week+0.88%
21 Oct 20181.50841 Month+0.05%
24 May 20181.51066 Months-0.09%
20 Nov 20171.50431 Year+0.33%
20 Nov 20161.42952 Years+5.58%
21 Nov 20131.41655 Years+6.54%
22 Nov 20081.612210 Years-6.39%

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