Foreign Exchange Guide to Germany

This currency guide to Germany helps you choose the best way to save money on EUR transfers and travel money.    [USD/EUR=0.9016]

 
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 sending 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

The Euro spent 2019 on a downwards trajectory, starting the year with highs at US1.1550 but then slid all year until October where it bottomed out at US$1.09 on Oct 1, close to long-term lows. Since then it has climbed back up towards the average rate for the year of US1.12, perhaps due to the less uncertainty around Brexit.

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.

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:

ALERT: 14-DAY HIGHS 🔔 |
USD/EUR at 0.9019 is trading near the 90-day average 0.9012 with a range 0.8912 to 0.909. ALERT: USD/EUR has risen to 14-DAY HIGHS.
21-Jan-2020 16:NY 21:LON 08:SYD+1d

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
Banks - Average Rate Foreign Currency
781.51
Compare
0.7894U$1013.38%
 
Banks - Average Rate
Travel Money USD→EUR
From Amount (USD)U$1,000
Fee:U$10 USD (1%)
Exchange Rate:0.7894 (12.5% from mid-rate)
To Amount (EUR)781.51
Total Cost:13.38%
Currency Services:Branch
Delivery/Collect:-
 
Snapshot 01/22/2020 - 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
8,950
Best Overall
0.8950^0.8%
XE logo
8,909
€41 less
0.890901.25%
Wells Fargo Bank logo
8,683.34
€267 less
0.8699183.75%
HSBC logo
8,677.96
€272 less
0.8691U$153.81%
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
8,625
€325 less
0.8675154.41%
Bank of America International Money Transfers
Bank of America logo
8,568.45
€382 less
0.8655U$1005.03%
U.S. Bank International Money Transfers
U.S. Bank logo
8,568.45
€382 less
0.8655U$1005.03%
 
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:0.8950 (0.8% from mid-rate)
To Amount (EUR)8,950
Total Cost:0.8%
Time:
Rate Fetched: 6:03 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:0.8909 (1.25% from mid-rate)
To Amount (EUR)8,909
Total Cost:1.25%
Difference:
€41 EUR less than using OFX
Time:6:03 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:0.8699 (3.58% from mid-rate)
To Amount (EUR)8,683.34
Total Cost:3.75%
Difference:
€267 EUR less than using OFX
Time:6:03 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:0.8691 (3.67% from mid-rate)
To Amount (EUR)8,677.96
Total Cost:3.81%
Difference:
€272 EUR less than using OFX
Time:6:03 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:0.8637 (4.27% from mid-rate)
To Amount (EUR)8,625
Total Cost:4.41%
Difference:
€325 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:0.8655 (4.07% from mid-rate)
To Amount (EUR)8,568.45
Total Cost:5.03%
Difference:
€382 EUR less than using OFX
Time:6:03 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:0.8655 (4.07% from mid-rate)
To Amount (EUR)8,568.45
Total Cost:5.03%
Difference:
€382 EUR less than using OFX
Time:6:03 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Snapshot 01/22/2020 - See full table
 

Euro to United States Dollar - Historical Rates

PeriodChange*EUR/USDDate
1 Day-0.1%1.109720 Jan 2020
7 Day-0.4%1.112814 Jan 2020
30 Day+0.1%1.108022 Dec 2019
3 Month-0.4%1.113323 Oct 2019
1 Year-2.5%1.136921 Jan 2019
5 Year-2.4%1.136122 Jan 2015
10 Year-21.6%1.413323 Jan 2010

*For period to 21-Jan 21UTC when EUR/USD was 1.1086

Euro to British Pound Sterling - 10 Year History

PeriodChange*EUR/GBPDate
1 Day-0.4%0.853420 Jan 2020
7 Day-0.5%0.854614 Jan 2020
30 Day-0.2%0.852022 Dec 2019
3 Month-1.3%0.861623 Oct 2019
1 Year-3.6%0.881921 Jan 2019
5 Year+12.3%0.757122 Jan 2015
10 Year-3%0.876523 Jan 2010

*For period to 21-Jan 21UTC when EUR/GBP was 0.8501

Euro to Australian Dollar - Historical Rates

PeriodChange*EUR/AUDDate
1 Day+0.4%1.614020 Jan 2020
7 Day+0.4%1.613914 Jan 2020
30 Day+1%1.604522 Dec 2019
3 Month-0.3%1.625223 Oct 2019
1 Year+2%1.588021 Jan 2019
5 Year+14.3%1.417322 Jan 2015
10 Year+3.5%1.565123 Jan 2010

*For period to 21-Jan 21UTC when EUR/AUD was 1.6200

Country Guides - Full List (A-Z)

A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
Y
Z