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Foreign Exchange Guide to Malta

Read this currency guide to Malta with money transfer and travel tips.   [USD/EUR=0.8843]

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

The euro is heading higher, experts said in November.

Increasingly, complications over Brexit are seen to be a UK problem; less so for the euro area.

With this in mind, and despite disappointing economic data of late, Citibank is confident of a long-term move in EUR/USD to $1.3, from $1.139 at the time of this report (November-21). “Underpinned by the less accommodative policies of the ECB,” the euro will most likely achieve this target, which represents a 14 percent gain, before the end of 2019, Citi has said.

Relative to the pound, the euro had recovered in the days leading up to this report into the £0.89s, from the mid-£0.86s. With political turmoil in the UK, there is room for the exchange rate to reach £0.92 in the months ahead, a Nordea Markets analyst believes. A return to £0.92 would take EUR/GBP back to levels not seen since September 2017.

For EUR/CHF, which averaged Fr1.137 in the weeks leading up to this report, a 5.5 percent rise to Fr1.2 is due sometime within the next 6-12 months, per analysts at Danske Bank.

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 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.

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.

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. 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. 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.

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.

 

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.

 

Compare USD to EUR Travel Money Exchange Rates vs the Banks

ProvidersAmount EUR(€)Exchange RateFee USDTotal CostCurrency ServicesDelivery SpeedReviewsDeal Links
Wells Fargo Bank logo
827.90 EUR
Top Provider
0.8448$206.38%Branch pickupn/a
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
827.80 EUR
EUR0.1 less
0.8363$106.39%Branch pickupn/a
U.S. Bank
U.S. Bank logo
827.70 EUR
EUR0.2 less
0.827706.4%Branch pickupn/a
Travelex Online US logo
822.70 EUR
EUR5.2 less
0.82270^6.97%Online order, Home delivery2-3 days
 
Wells Fargo Bank: Travel Money USD→EUR
USD amount:$1,000 USD
Fee:$20 USD (Minimum fee)
Exchange Rate:0.8448 (4.47% from mid-rate)
EUR amount:827.90 EUR
Total Cost:6.38%
Time:12:07 Local
Delivery Speed:n/a
Currency Services:Branch pickup
Rating:
: /5.0
Reviews:
 

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

Travel Money USD→EUR
USD amount:$1,000 USD
Fee:$10 USD (1%)
Exchange Rate:0.7738 (12.5% from mid-rate)
EUR amount:827.80 EUR
Total Cost:6.39%
Delivery Speed:n/a
Currency Services:Branch pickup
U.S. Bank: Travel Money USD→EUR
USD amount:$1,000 USD
Fee:0
Exchange Rate:0.8277 (6.4% from mid-rate)
EUR amount:827.70 EUR
Total Cost:6.4%
Time:12:07 Local
Delivery Speed:n/a
Currency Services:Branch pickup
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:0.8227 (6.97% from mid-rate)
EUR amount:822.70 EUR
Total Cost:6.97%
Time:
Rate Fetched: Sat Dec 15 2018 10:00:04 GMT+0000 (UTC)
Delivery Speed:2-3 days
Currency Services:Online order, Home delivery
Rating:
 
: 4.3/5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Rates @ 12/15/2018.
Total Cost = Fee + exchange rate margin vs USD/EUR mid-rate: 0.8843
 

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!

 

Compare USD to EUR Foreign Transfers vs the Banks

ProvidersAmount EUR(€)Exchange RateFee USDTotal CostTransfer ServicesTransfer SpeedReviewsDeal Links
WorldFirst logo
8,704 EUR
Top Provider
0.870401.57%Online, Bank Transfers1-2 days
 
OFX logo
8,708 EUR
EUR4 more
0.87080^1.53%Online, Bank Transfers1-2 days
 
Wells Fargo Bank logo
8,527.62 EUR
EUR176 less
0.8543183.57%Online, Branch, Bank Transfers2-3 days
HSBC logo
8,521.2 EUR
EUR183 less
0.8534$153.64%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
8469.21 EUR
EUR235 less
0.8519154.23%Online, Branch, Bank Transfers2-3 days
Bank of America
Bank of America logo
8,414.01 EUR
EUR290 less
0.8499$1004.85%Online, Branch, Bank Transfers2-3 days
U.S. Bank
U.S. Bank logo
8,414.01 EUR
EUR290 less
0.8499$1004.85%Online, Branch, Bank Transfers2-3 days
WorldFirst: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:
Exchange Rate:0.8704 (1.57% from mid-rate)
EUR amount:8,704 EUR
Total Cost:1.57%
Time:12:07 Local
Transfer Speed:1-2 days
Services:Online, Bank Transfers
Rating:
 
: 4.6/5.0
Reviews:
 
OFX: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:0.8708 (1.53% from mid-rate)
EUR amount:8,708 EUR
Total Cost:1.53%
Difference:
EUR4 EUR more than using WorldFirst
Time:
Rate Fetched: Sat Dec 15 2018 10:02:23 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Online, Bank Transfers
Rating:
 
: 4.8/5.0
Reviews:
Wells Fargo Bank: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:18
Exchange Rate:0.8543 (3.39% from mid-rate)
EUR amount:8,527.62 EUR
Total Cost:3.57%
Difference:
EUR176 EUR less than using WorldFirst
Time:12:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
HSBC: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:$15 USD (.15%)
Exchange Rate:0.8534 (3.49% from mid-rate)
EUR amount:8,521.2 EUR
Total Cost:3.64%
Difference:
EUR183 EUR less than using WorldFirst
Time:12:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

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

Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:15
Exchange Rate:0.8482 (4.08% from mid-rate)
EUR amount:8469.21 EUR
Total Cost:4.23%
Difference:
EUR235 EUR less than using WorldFirst
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Bank of America: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:0.8499 (3.89% from mid-rate)
EUR amount:8,414.01 EUR
Total Cost:4.85%
Difference:
EUR290 EUR less than using WorldFirst
Time:12:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
U.S. Bank: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:0.8499 (3.89% from mid-rate)
EUR amount:8,414.01 EUR
Total Cost:4.85%
Difference:
EUR290 EUR less than using WorldFirst
Time:12:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Rates @ 12/15/2018.
Total Cost = Fee + exchange rate margin vs USD/EUR mid-rate: 0.8843
 

Popular EUR cross rates


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

DateExchange RatePeriodChange
15 Dec 20181.1309Latest
08 Dec 20181.13851 Week-0.67%
15 Nov 20181.13251 Month-0.14%
18 Jun 20181.16306 Months-2.76%
15 Dec 20171.17561 Year-3.8%
15 Dec 20161.04202 Years+8.53%
16 Dec 20131.37615 Years-17.82%
17 Dec 20081.431610 Years-21%

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

DateExchange RatePeriodChange
15 Dec 20180.8983Latest
08 Dec 20180.89431 Week+0.45%
15 Nov 20180.88711 Month+1.26%
18 Jun 20180.87726 Months+2.41%
15 Dec 20170.88241 Year+1.8%
15 Dec 20160.83872 Years+7.11%
16 Dec 20130.84445 Years+6.38%
17 Dec 20080.929310 Years-3.34%

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

DateExchange RatePeriodChange
15 Dec 2018128.2790Latest
08 Dec 2018128.34141 Week-0.05%
15 Nov 2018128.61441 Month-0.26%
18 Jun 2018128.08956 Months+0.15%
15 Dec 2017132.35721 Year-3.08%
15 Dec 2016122.58082 Years+4.65%
16 Dec 2013141.87305 Years-9.58%
17 Dec 2008125.945910 Years+1.85%

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

DateExchange RatePeriodChange
15 Dec 20181.5752Latest
08 Dec 20181.57941 Week-0.27%
15 Nov 20181.55781 Month+1.12%
18 Jun 20181.57096 Months+0.27%
15 Dec 20171.53741 Year+2.46%
15 Dec 20161.41492 Years+11.33%
16 Dec 20131.53905 Years+2.35%
17 Dec 20082.058910 Years-23.49%

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

DateExchange RatePeriodChange
15 Dec 20181.5135Latest
08 Dec 20181.51681 Week-0.22%
15 Nov 20181.49151 Month+1.48%
18 Jun 20181.53656 Months-1.5%
15 Dec 20171.51271 Year+0.05%
15 Dec 20161.38532 Years+9.25%
16 Dec 20131.45775 Years+3.83%
17 Dec 20081.723710 Years-12.19%

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