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Foreign Exchange Guide to Malta

Read this currency guide to Malta with money transfer and travel tips.   [USD/EUR=0.889]

 
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 dollar, the euro remains weak. At $1.12 in early April, the euro was barely above March’s 21-month low of $1.118. Against the pound, it traded at £0.86 (a level it never sank to in 2018), but it fared better against the Australian dollar, with EUR/AUD rates in line with 2018’s average, at A$1.578.

Euro weakness has been driven by Brexit uncertainties and has followed March’s meeting of the ECB, at which the central bank said it will not raise interest rates until 2020 as part of an effort to lift the eurozone economy out of this “period of continued [economic] weakness.”

Forecasts: ING analysts wrote in March that they expect the low-yielding euro to continue to depreciate against USD over the coming months; ANZ said it saw rates falling as low as $1.08 by mid-year; Danske Bank said the euro would trade between $1.12 and 1.16 at year-end.

For EUR/GBP, Nordea Research thinks a no-deal Brexit will put £0.95 in play, a Norway-type Brexit (“Norway plus”) or permanent customs union will lead to £0.81-0.83, and Theresa May’s deal should see £0.83-0.84.

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

 

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.

 
Sending a LARGER foreign transfer? Request a Multi-Vendor Quote ▾
Travel Money Providers
Ratings & Reviews
Amount EUR(€)Exchange RateFee USDTotal CostCurrency ServicesDelivery/CollectDeal Links
U.S. Bank Foreign Currency
U.S. Bank logo
831.40 EUR
Compare
0.831406.39%Branch-
 
Travelex Online US logo
826.40 EUR
5 EUR
0.82640^6.96%Online order, Branch pickup, Home delivery2-3 days
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
823.09 EUR
8.31 EUR
0.8314$107.33%Branch-
Wells Fargo Bank logo
814.77 EUR
17 EUR
0.8314$208.27%Branch-
 

U.S. Bank logoU.S. Bank

U.S. Bank: Travel Money USD→EUR
USD amount:$1,000 USD
Fee:0
Exchange Rate:0.8314 (6.39% from mid-rate)
EUR amount:831.40 EUR
Total Cost:6.39%
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:0.8264 (6.96% from mid-rate)
EUR amount:826.40 EUR
Total Cost:6.96%
Time:
Rate Fetched: Mon Apr 22 2019 22:00:04 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 

Banks - Average Rate

Travel Money USD→EUR
USD amount:$1,000 USD
Fee:$10 USD (1%)
Exchange Rate:0.7772 (12.5% from mid-rate)
EUR amount:823.09 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:0.8314 (6.39% from mid-rate)
EUR amount:814.77 EUR
Total Cost:8.27%
Time:0:00 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 
 

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!

 
Sending a LARGER foreign transfer? Request a Multi-Vendor Quote ▾

USD-EUR Foreign Transfers

  

Foreign Transfer Providers
Ratings & Reviews
Receive EUR(€)Exchange RateFee USDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
OFX logo
8,787 EUR
Best Overall
0.87870^1.07%Bank Transfers - Online & Phone, Foreign Currency Accounts1-2 days
 
TransferWise logo
8,827.75 EUR
41 EUR
0.8873$510.61%Bank Transfers - Online, Foreign Currency Accounts1-2 days
Wells Fargo Bank logo
8,604.48 EUR
183 EUR
0.862183.12%Online, Branch, Bank Transfers2-3 days
HSBC logo
8,598.08 EUR
189 EUR
0.8611$153.2%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
8,546 EUR
241 EUR
0.8596153.79%Online, Branch, Bank Transfers2-3 days
Bank of America International Money Transfers
Bank of America logo
8,490.24 EUR
297 EUR
0.8576$1004.41%Online, Branch, Bank Transfers2-3 days
U.S. Bank International Money Transfers
U.S. Bank logo
8,490.24 EUR
297 EUR
0.8576$1004.41%Online, Branch, Bank Transfers2-3 days
 
OFX: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:0.8787 (1.07% from mid-rate)
EUR amount:8,787 EUR
Total Cost:1.07%
Time:
Rate Fetched: Mon Apr 22 2019 22:02:20 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
TransferWise: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:$51 USD (0.5% + $1)
Exchange Rate:0.8873 (0.1% from mid-rate)
EUR amount:8,827.75 EUR
Total Cost:0.61%
Difference:
41 EUR more than using OFX
Time:0:00 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online, Foreign Currency Accounts
Rating:
 
: 4.6/5.0
Reviews:
 

Wells Fargo Bank logoWells Fargo Bank

Wells Fargo Bank: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:18
Exchange Rate:0.8620 (2.95% from mid-rate)
EUR amount:8,604.48 EUR
Total Cost:3.12%
Difference:
183 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:0.8611 (3.05% from mid-rate)
EUR amount:8,598.08 EUR
Total Cost:3.2%
Difference:
189 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:0.8559 (3.64% from mid-rate)
EUR amount:8,546 EUR
Total Cost:3.79%
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:0.8576 (3.45% from mid-rate)
EUR amount:8,490.24 EUR
Total Cost:4.41%
Difference:
297 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:0.8576 (3.45% from mid-rate)
EUR amount:8,490.24 EUR
Total Cost:4.41%
Difference:
297 EUR less than using OFX
Time:0:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
 

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

DateExchange RatePeriodChange
22 Apr 20191.1259Latest
15 Apr 20191.13041 Week-0.4%
23 Mar 20191.13071 Month-0.42%
24 Oct 20181.13996 Months-1.23%
22 Apr 20181.22741 Year-8.27%
22 Apr 20171.07262 Years+4.97%
23 Apr 20141.38185 Years-18.52%
24 Apr 20091.325510 Years-15.06%

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

DateExchange RatePeriodChange
22 Apr 20190.8673Latest
15 Apr 20190.86301 Week+0.5%
23 Mar 20190.85581 Month+1.34%
24 Oct 20180.88476 Months-1.97%
22 Apr 20180.87661 Year-1.06%
22 Apr 20170.83752 Years+3.56%
23 Apr 20140.82355 Years+5.32%
24 Apr 20090.904610 Years-4.12%

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

DateExchange RatePeriodChange
22 Apr 2019126.0359Latest
15 Apr 2019126.55501 Week-0.41%
23 Mar 2019124.28621 Month+1.41%
24 Oct 2018127.66816 Months-1.28%
22 Apr 2018132.41541 Year-4.82%
22 Apr 2017116.99942 Years+7.72%
23 Apr 2014141.65495 Years-11.03%
24 Apr 2009128.608810 Years-2%

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

DateExchange RatePeriodChange
22 Apr 20191.5784Latest
15 Apr 20191.57591 Week+0.16%
23 Mar 20191.59631 Month-1.12%
24 Oct 20181.61396 Months-2.2%
22 Apr 20181.60251 Year-1.5%
22 Apr 20171.42172 Years+11.02%
23 Apr 20141.48815 Years+6.07%
24 Apr 20091.838010 Years-14.12%

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

DateExchange RatePeriodChange
22 Apr 20191.5030Latest
15 Apr 20191.51141 Week-0.56%
23 Mar 20191.51751 Month-0.96%
24 Oct 20181.48736 Months+1.06%
22 Apr 20181.56731 Year-4.1%
22 Apr 20171.44772 Years+3.82%
23 Apr 20141.52415 Years-1.38%
24 Apr 20091.606810 Years-6.46%

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