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Foreign Exchange Guide to the Eurozone

This currency guide to the Eurozone helps you choose the best way to save money on EUR transfers and travel money.    [USD/EUR=0.9039]

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

This is a foreign exchange guide to the Eurozone, the Euro currency plus sending 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

Euro sentiment dipped in mid-June after the ECB, like other major central banks of the world, ramped up its dovish rhetoric. It said that there was “considerable room” for further quantitative easing and that it would consider negative interest rates. Ordinarily, this would spark an extended euro decline but since other major currencies are also wrestling with easier central bank policies, euro depreciation may be contained.

In spite of Brexit, a slowdown in economic growth, Italian risks and persistently weak inflation — an important measure of inflation expectations fell in June to a record low — the euro did fantastically well against the Australian dollar, New Zealand dollar and British pound between mid-April and mid-June. Due to a stronger US dollar, EUR/USD was down 2 percent on the year at $1.12, close to long-term lows.

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:

90-DAY TREND: At 0.9043 USD/EUR is trading near the average 0.905 with a range 0.89 to 0.9175. There are no current alerts. Updated: 08:01-AEDT 21:01-GMT 16:01-EST

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 ProvidersAmount EUR(€)Exchange RateFee USDTotal CostDeal Links
U.S. Bank Foreign Currency
U.S. Bank logo
845.80
Compare
0.845806.4%
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
837.34
€8.46 less
0.8458U$107.33%
Wells Fargo Bank logo
828.88
€17 less
0.8458U$208.27%
Travelex Online US logo
820.40
€25 less
0.82040^9.21%
 

U.S. Bank logo

U.S. Bank: Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:0
Exchange Rate:0.8458 (6.4% from mid-rate)
To Amount (EUR)845.80
Total Cost:6.4%
Time:0:00 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:U$10 USD (1%)
Exchange Rate:0.7907 (12.49% from mid-rate)
To Amount (EUR)837.34
Total Cost:7.33%
Currency Services:Branch
Delivery/Collect:-
 

Wells Fargo Bank logo

Wells Fargo Bank: Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:U$20 USD (Minimum fee)
Exchange Rate:0.8458 (6.4% from mid-rate)
To Amount (EUR)828.88
Total Cost:8.27%
Time:0:00 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 

Travelex Online US logo

Travelex Online US: Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:0.8204 (9.21% from mid-rate)
To Amount (EUR)820.40
Total Cost:9.21%
Time:
Rate Fetched: Fri Nov 22 2019 00:00:06 GMT+0000 (UTC)
Currency Services:FREE Home delivery & Branch pickup
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 
Snapshot 11/21/2019 - See full table
 

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!

 
  

USD to EUR International Money Transfers

  

Foreign Transfer ProvidersReceive EUR(€)Exchange RateFee USDTotal CostDeal Links
OFX logo
8,964
Best Overall
0.89640^0.8%
XE logo
8,923
€41 less
0.892301.25%
Wells Fargo Bank logo
8,701.31
€263 less
0.8717183.7%
HSBC logo
8,694.94
€269 less
0.8708U$153.77%
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
8,642
€322 less
0.8693154.36%
Bank of America International Money Transfers
Bank of America logo
8,586.27
€378 less
0.8673U$1004.98%
U.S. Bank International Money Transfers
U.S. Bank logo
8,586.27
€378 less
0.8673U$1004.98%
 

OFX logo

OFX: Foreign Transfer USD→EUR
From Amount (USD)U$10,000
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:0.8964 (0.8% from mid-rate)
To Amount (EUR)8,964
Total Cost:0.8%
Time:
Rate Fetched: 0:00 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 

XE logo

XE: Foreign Transfer USD→EUR
From Amount (USD)U$10,000
Fee:
Exchange Rate:0.8923 (1.25% from mid-rate)
To Amount (EUR)8,923
Total Cost:1.25%
Difference:
€41 EUR less than using OFX
Time:0:00 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 3.5/5.0
Reviews:
 

Wells Fargo Bank logo

Wells Fargo Bank: Foreign Transfer USD→EUR
From Amount (USD)U$10,000
Fee:18
Exchange Rate:0.8717 (3.53% from mid-rate)
To Amount (EUR)8,701.31
Total Cost:3.7%
Difference:
€263 EUR less than using OFX
Time:0:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

HSBC logo

HSBC: Foreign Transfer USD→EUR
From Amount (USD)U$10,000
Fee:U$15 USD (.15%)
Exchange Rate:0.8708 (3.63% from mid-rate)
To Amount (EUR)8,694.94
Total Cost:3.77%
Difference:
€269 EUR less than using OFX
Time:0:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer USD→EUR
From Amount (USD)U$10,000
Fee:15
Exchange Rate:0.8655 (4.22% from mid-rate)
To Amount (EUR)8,642
Total Cost:4.36%
Difference:
€322 EUR less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

Bank of America logo

Bank of America: Foreign Transfer USD→EUR
From Amount (USD)U$10,000
Fee:U$100 USD (1%)
Exchange Rate:0.8673 (4.02% from mid-rate)
To Amount (EUR)8,586.27
Total Cost:4.98%
Difference:
€378 EUR less than using OFX
Time:0:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

U.S. Bank logo

U.S. Bank: Foreign Transfer USD→EUR
From Amount (USD)U$10,000
Fee:U$100 USD (1%)
Exchange Rate:0.8673 (4.02% from mid-rate)
To Amount (EUR)8,586.27
Total Cost:4.98%
Difference:
€378 EUR less than using OFX
Time:0:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Snapshot 11/21/2019 - See full table
 

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

PeriodChange*EUR/USDDate
1 Day-0.2%1.107820 Nov 2019
7 Day+0.4%1.102014 Nov 2019
30 Day-0.6%1.113022 Oct 2019
3 Month-1.5%1.122623 Aug 2019
1 Year-2.9%1.138921 Nov 2018
5 Year-10.7%1.239122 Nov 2014
10 Year-26.1%1.496723 Nov 2009

*For period to 21-Nov 21UTC when EUR/USD was 1.1059

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

PeriodChange*EUR/GBPDate
7 Day+0.2%0.855414 Nov 2019
30 Day-0.8%0.863822 Oct 2019
3 Month-6.3%0.914323 Aug 2019
1 Year-3.9%0.891421 Nov 2018
5 Year+8.3%0.791322 Nov 2014
10 Year-4.9%0.901023 Nov 2009

*For period to 21-Nov 21UTC when EUR/GBP was 0.8568

EUR/AUD - Euro to Australian Dollar - Historical Rates

PeriodChange*EUR/AUDDate
7 Day+0.4%1.623714 Nov 2019
30 Day+0.4%1.622222 Oct 2019
3 Month-2%1.662323 Aug 2019
1 Year+3.9%1.568321 Nov 2018
5 Year+14%1.429022 Nov 2014
10 Year+0.6%1.619723 Nov 2009

*For period to 21-Nov 21UTC when EUR/AUD was 1.6294

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