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Foreign Exchange Guide to Malta

Read this currency guide to Malta with money transfer and travel tips.   [USD/EUR=0.8937]

 
Malta
Country Code:
MT
Domestic Currency:
Euro
Symbol - Code:
€ EUR
Telephone Prefix:
+356

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


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

Against the US dollar, the euro struck a 2-year low of $1.111 on May-23, though that mostly reflected the greenback's broad-based strength.

Against the pound, the euro set a record 14-day winning streak in May, and is now near 3-month highs at £0.882; it was also strong against the Australian dollar, at A$1.617.

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 Malta

 

The entire country spans only 196 square miles, making it an easy destination to explore, and, despite being a popular spot for European travelers, Malta still feels like an undiscovered gem.. Malta is packed with historical sites, from the UNESCO-protected ancient temples to the three ancient cities on the harbor. Archeology buffs will enjoy wandering through the Ħal Saflieni Hypogeum, an ancient underground cemetery thought to have been used between 4,000 and 2,500 B.C.

Malta's landscape contrasts rocky stretches of coast that end in dizzying limestone cliffs with sheltered bays that hide gin-clear water and red-gold beaches. The islands' many marinas jostle with boats, and you can take to the water in sky-blue traditional craft, stately yachts or speedboats.

Malta.

Malta and Gozo’s astounding prehistoric sites were constructed by sophisticated-seeming temple builders, who also left miniature figurines and mammoth sculptures of ‘fat ladies’, which have survived millennia and are housed in Malta's fascinating museums. Out in the open, gigantic temples and towers from many different eras stand proud, continuing their endless watch over the sea. The most extraordinary site of all lies underground: Hal Saflieni Hypogeum, a 5000-year-old necropolis carved from the living rock.

What currency is used in Malta?

On 1st January 2008 Malta adopted the euro as its currency. Exchange bureaux at Malta International Airport are open 24 hours a day. International bank cards are accepted and foreign currency is easily exchanged. Banks, Automated Teller Machines (ATMs) and exchange bureaux can be found all over the Islands. The majority of hotels, larger shops and restaurants also accept payment in the main international currencies.

How to get around in Malta?

Local buses are good, especially in the Northern area and from Sliema you will find direct links to Valletta, Mdina, Malta, St Paul's Bay, Mellieha and Cirkewwa for the Gozo ferry. Some buses will get busy, especially at peak times when locals use them for commuting.The public bus service on Malta and Gozo is a good way to get around as buses serve the major tourist areas, go practically everywhere and are inexpensive and efficient.

Valletta Ferry Services operates regular ferries between Valletta's Marsamxett Harbour and Sliema, as well as from near Valletta Waterfront to the Three Cities. There are no train services in Malta.

The white taxi service can pick up passengers from anywhere, except bus-stops. Taxi services from the Malta International Airport and the Seaport Terminal to all localities in Malta are based on a fixed tariff. Official Maltese taxis are white (usually Mercedes, with a taxi sign on top; www.maltataxi.net). To combat regular complaints of overcharging, taxi drivers must by law use the meter to determine the fare (except from the airport and sea port, where there are set fares). Renting a car is a good option if you want to get to the farther reaches of the island. All the road signs are in English and driving is on the left.

Travel tips for Malta.

Gozo may be a third of the size of Malta, but you'll be surprised to learn that there’s plenty to see and do on the island. Tourists often make the mistake of thinking that they can see all of Gozo in one day. Get off the beaten path – walk along the Gozo’s rugged coastline, go for a swim at a secluded beach and explore the island’s picturesque hamlets. Despite its lack of green areas, Malta is still a great place for hiking. The island has a range of easy to challenging walking trails running along the coast and cutting through the countryside.

Any time of year will be beautiful in Malta, and although locals prefer to hop in the sea only during the summer, most visitors will find it warm enough to enjoy year round.

 

Travel money for Malta

 

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
833.10 EUR
Compare
0.833106.39%
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
824.77 EUR
8.33 EUR
0.8331$107.33%
Wells Fargo Bank logo
816.44 EUR
17 EUR
0.8331$208.27%
Travelex Online US logo
810.80 EUR
22 EUR
0.81080^8.9%
 

U.S. Bank logoU.S. Bank

U.S. Bank: Travel Money USD→EUR
USD amount:$1,000 USD
Fee:0
Exchange Rate:0.8331 (6.39% from mid-rate)
EUR amount:833.10 EUR
Total Cost:6.39%
Time:6:00 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:0.7788 (12.49% from mid-rate)
EUR amount:824.77 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:0.8331 (6.39% from mid-rate)
EUR amount:816.44 EUR
Total Cost:8.27%
Time:6:00 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:0.8108 (8.9% from mid-rate)
EUR amount:810.80 EUR
Total Cost:8.9%
Time:
Rate Fetched: Tue Jun 18 2019 04:00:05 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 
Snapshot 06/18/2019 - See full table
 

Malta Trip Checklist    

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

Sending money to Malta

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

When sending money to Malta 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 Malta.

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
8,811 EUR
Best Overall
0.88110^1%
Wells Fargo Bank logo
8,628.44 EUR
183 EUR
0.8644183.05%
HSBC logo
8,622.05 EUR
189 EUR
0.8635$153.12%
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
8,570 EUR
241 EUR
0.8620153.71%
Bank of America International Money Transfers
Bank of America logo
8,514 EUR
297 EUR
0.86$1004.34%
U.S. Bank International Money Transfers
U.S. Bank logo
8,514 EUR
297 EUR
0.86$1004.34%
 
OFX: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:0.8811 (1% from mid-rate)
EUR amount:8,811 EUR
Total Cost:1%
Time:
Rate Fetched: Tue Jun 18 2019 04:02:21 GMT+0000 (UTC)
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:0.8644 (2.88% from mid-rate)
EUR amount:8,628.44 EUR
Total Cost:3.05%
Difference:
183 EUR less than using OFX
Time:6:00 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:0.8635 (2.98% from mid-rate)
EUR amount:8,622.05 EUR
Total Cost:3.12%
Difference:
189 EUR less than using OFX
Time:6:00 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:0.8582 (3.57% from mid-rate)
EUR amount:8,570 EUR
Total Cost:3.71%
Difference:
241 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:0.8600 (3.37% from mid-rate)
EUR amount:8,514 EUR
Total Cost:4.34%
Difference:
297 EUR less than using OFX
Time:6:00 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:0.8600 (3.37% from mid-rate)
EUR amount:8,514 EUR
Total Cost:4.34%
Difference:
297 EUR less than using OFX
Time:6:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Snapshot 06/18/2019 - See full table
 

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

PeriodChange*EUR/USDDate
1 Day+0.04%1.121616 Jun 2019
1 Week-0.87%1.131910 Jun 2019
1 Month+0.51%1.116318 May 2019
6 Months-1.46%1.138619 Dec 2018
1 Year-3.23%1.159417 Jun 2018
5 Years-17.39%1.358218 Jun 2014
10 Years-19.66%1.396619 Jun 2009

*For period to 17-Jun 21UTC when EUR/USD was 1.1220

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

PeriodChange*EUR/GBPDate
1 Day+0.49%0.890616 Jun 2019
1 Week+0.35%0.891910 Jun 2019
1 Month+1.97%0.877718 May 2019
6 Months-0.75%0.901819 Dec 2018
1 Year+2.48%0.873317 Jun 2018
5 Years+11.87%0.800018 Jun 2014
10 Years+5.7%0.846719 Jun 2009

*For period to 17-Jun 21UTC when EUR/GBP was 0.8950

EUR/AUD - Euro to Australian Dollar - Historical Rates

PeriodChange*EUR/AUDDate
1 Day+0.39%1.630716 Jun 2019
1 Week+0.68%1.626010 Jun 2019
1 Month+0.62%1.626918 May 2019
6 Months+2.25%1.600919 Dec 2018
1 Year+5.06%1.558217 Jun 2018
5 Years+13.12%1.447118 Jun 2014
10 Years-5.32%1.728919 Jun 2009

*For period to 17-Jun 21UTC when EUR/AUD was 1.6370

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