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Foreign Exchange Guide to Germany

Read this currency guide to Germany with money transfer and travel tips.   [USD/EUR=0.9013]

 
Germany
Country Code:
DE
Domestic Currency:
Euro
Symbol - Code:
€ EUR
Telephone Prefix:
+49

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


In this Germany 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 Germany - currency & money saving tips
  4. Buying Euro cash online - travel money for Germany
  5. Sending money to Germany - save on Euro bank transfers to Germany
  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:

Travel, Currency and Money saving tips for Germany

 

Accommodation and food are quite cheap in Germany compared the neighbouring countries. Interestingly, of the Eurozone countries, Germans top the list for keeping the most cash in their wallets. It is not uncommon in Germany for restaurants to only accept cash, so make sure you have some euros before visiting.

High speed transport by train (Deutsche Bahn) is expensive however, but is very fast and efficient. But if on a budget one can try using the much cheaper, and much slower trains. Which may be fine if you enjoy the journey as much as the destination when travelling. ATMs and banks are easily available everywhere, and all major credits cards are accepted.

The bus and local train network are both extensive and not too expensive, though to get to smaller towns you may have to bus to a nearby big city then take another bus to your destination. Also another popular way to get around Germany is by car, which is flexible and easy and you get to experience the famous Autobahn on which there is no speed limit.

Alternatively cheapest flights are now available to get around Germany and are a good way to save time on your travels if you don't mind missing seeing the landscape while you travel.

 

Travel money for Germany

 

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
843.70 EUR
Compare
0.843706.39%
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
835.27 EUR
8.43 EUR
0.8437$107.33%
Wells Fargo Bank logo
826.83 EUR
17 EUR
0.8437$208.26%
Travelex Online US logo
821.00 EUR
23 EUR
0.8210^8.91%
 

U.S. Bank logoU.S. Bank

U.S. Bank: Travel Money USD→EUR
USD amount:$1,000 USD
Fee:0
Exchange Rate:0.8437 (6.39% from mid-rate)
EUR amount:843.70 EUR
Total Cost:6.39%
Time:0:00 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:0.7886 (12.5% from mid-rate)
EUR amount:835.27 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:0.8437 (6.39% from mid-rate)
EUR amount:826.83 EUR
Total Cost:8.26%
Time:0:00 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:0.821 (8.91% from mid-rate)
EUR amount:821.00 EUR
Total Cost:8.91%
Time:
Rate Fetched: Sat Aug 17 2019 22:00:05 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 
Snapshot 08/17/2019 - See full table
 

Germany Trip Checklist    

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

Sending money to Germany

When searching around for information on how to get a good exchange rate when sending money to Germany 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 Germany

When sending money to Germany 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 Germany.

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
8,941 EUR
Best Overall
0.89410^0.8%
Wells Fargo Bank logo
8,635.43 EUR
306 EUR
0.8651184.19%
HSBC logo
8,630.04 EUR
311 EUR
0.8643$154.25%
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
8,577 EUR
364 EUR
0.8627154.84%
Bank of America International Money Transfers
Bank of America logo
8,520.93 EUR
420 EUR
0.8607$1005.46%
U.S. Bank International Money Transfers
U.S. Bank logo
8,520.93 EUR
420 EUR
0.8607$1005.46%
 
OFX: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:0.8941 (0.8% from mid-rate)
EUR amount:8,941 EUR
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:
 

Wells Fargo Bank logoWells Fargo Bank

Wells Fargo Bank: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:18
Exchange Rate:0.8651 (4.02% from mid-rate)
EUR amount:8,635.43 EUR
Total Cost:4.19%
Difference:
306 EUR less than using OFX
Time:0:00 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:0.8643 (4.11% from mid-rate)
EUR amount:8,630.04 EUR
Total Cost:4.25%
Difference:
311 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
USD amount:$10,000 USD
Fee:15
Exchange Rate:0.8590 (4.69% from mid-rate)
EUR amount:8,577 EUR
Total Cost:4.84%
Difference:
364 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:0.8607 (4.5% from mid-rate)
EUR amount:8,520.93 EUR
Total Cost:5.46%
Difference:
420 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 logoU.S. Bank

U.S. Bank: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:0.8607 (4.5% from mid-rate)
EUR amount:8,520.93 EUR
Total Cost:5.46%
Difference:
420 EUR less than using OFX
Time:0:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Snapshot 08/17/2019 - See full table
 

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

PeriodChange*EUR/USDDate
1 Day-0.17%1.111215 Aug 2019
1 Week-1.67%1.128109 Aug 2019
1 Month-1.2%1.122817 Jul 2019
6 Months-1.79%1.129517 Feb 2019
1 Year-2.45%1.137216 Aug 2018
5 Years-17.16%1.339117 Aug 2014
10 Years-21.39%1.411218 Aug 2009

*For period to 16-Aug 21UTC when EUR/USD was 1.1093

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

PeriodChange*EUR/GBPDate
1 Day-0.65%0.919015 Aug 2019
1 Week-2.57%0.937109 Aug 2019
1 Month+1.11%0.903017 Jul 2019
6 Months+4.31%0.875317 Feb 2019
1 Year+2.07%0.894516 Aug 2018
5 Years+13.98%0.801017 Aug 2014
10 Years+6.7%0.855718 Aug 2009

*For period to 16-Aug 21UTC when EUR/GBP was 0.9130

EUR/AUD - Euro to Australian Dollar - Historical Rates

PeriodChange*EUR/AUDDate
1 Day-0.26%1.640715 Aug 2019
1 Week-1.52%1.661809 Aug 2019
1 Month+2.15%1.602117 Jul 2019
6 Months+3.5%1.581117 Feb 2019
1 Year+4.46%1.566616 Aug 2018
5 Years+13.88%1.437017 Aug 2014
10 Years-4.5%1.713618 Aug 2009

*For period to 16-Aug 21UTC when EUR/AUD was 1.6365

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