Foreign Exchange Guide to Malta

This currency guide to Malta helps you choose the best way to save money on EUR transfers and travel money.    [HKD/EUR=0.1161]

 
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 sending 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 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 HKD to EUR exchange rate and trend for the previous 3 months:

ALERT: 60-DAY HIGHS 🔔 |
HKD/EUR at 0.1161 is trading 0.6% above the 90-day average 0.1154 with a range 0.1141 to 0.1163. ALERT: HKD/EUR has risen to 60-DAY HIGHS.
17-Jan-2020 16:NY 21:LON 08:SYD+1d

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.

   

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!

 
  

HKD to EUR International Money Transfers

  

Foreign Transfer ProvidersReceive EUR(€)Exchange RateFee HKDTotal CostDeal Links
WorldFirst logo
5,7450.114900.52%
OFX logo
5,6500.1130 for BER users (normally $15)2.16%
DBS Bank logo
5,594.40.112503.13%
Banks - Average Rate
DBS Bank logo Citibank logo HSBC logo
5,5330.1108554.19%
HSBC logo
5,516.160.1105HK$804.48%
Citibank International Money Transfers
Citibank logo
5,488.680.1098124.96%
WorldRemit logo
Your amount above the WorldRemit HKD2000 maximum
 
WorldFirst logo
WorldFirst: Foreign Transfer HKD→EUR
From Amount (HKD)HK$50,000
Fee:
Exchange Rate:0.1149 (0.52% from mid-rate)
To Amount (EUR)5,745
Total Cost:0.52%
Time:1:06 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.6/5.0
Reviews:
 
OFX logo
OFX: Foreign Transfer HKD→EUR
From Amount (HKD)HK$50,000
Fee:0 for BER users (normally $15)
Exchange Rate:0.1130 (2.16% from mid-rate)
To Amount (EUR)5,650
Total Cost:2.16%
Difference:
€95 EUR less than using WorldFirst
Time:
Rate Fetched: Fri Jan 17 2020 00:16:14 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 
DBS Bank logo
DBS Bank: Foreign Transfer HKD→EUR
From Amount (HKD)HK$50,000
Fee:50
Exchange Rate:0.1120 (3.03% from mid-rate)
To Amount (EUR)5,594.4
Total Cost:3.13%
Difference:
€151 EUR less than using WorldFirst
Time:1:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Banks - Average Rate
Foreign Transfer HKD→EUR
From Amount (HKD)HK$50,000
Fee:55
Exchange Rate:0.1111 (3.81% from mid-rate)
To Amount (EUR)5,533
Total Cost:4.19%
Difference:
€212 EUR less than using WorldFirst
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 
HSBC logo
HSBC: Foreign Transfer HKD→EUR
From Amount (HKD)HK$50,000
Fee:HK$80 HKD (Minimum fee)
Exchange Rate:0.1105 (4.33% from mid-rate)
To Amount (EUR)5,516.16
Total Cost:4.48%
Difference:
€229 EUR less than using WorldFirst
Time:1:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Citibank logo
Citibank: Foreign Transfer HKD→EUR
From Amount (HKD)HK$50,000
Fee:12
Exchange Rate:0.1098 (4.94% from mid-rate)
To Amount (EUR)5,488.68
Total Cost:4.96%
Difference:
€256 EUR less than using WorldFirst
Time:1:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
WorldRemit logo
WorldRemit: Foreign Transfer HKD→EUR
From Amount (HKD)HK$50,000
Fee:
Transfer Speed:1 day
Services:Bank Transfers & Cash Pickup - Online only
Rating:
 
: 4.5/5.0
Reviews:
 
Snapshot 01/17/2020 - See full table
 

Euro to United States Dollar - Historical Rates

PeriodChange*EUR/USDDate
1 Day-0.4%1.113716 Jan 2020
7 Day-0.3%1.112110 Jan 2020
30 Day-0.2%1.111618 Dec 2019
3 Month-0.7%1.117019 Oct 2019
1 Year-2.6%1.139217 Jan 2019
5 Year-4.1%1.156318 Jan 2015
10 Year-22.4%1.428619 Jan 2010

*For period to 17-Jan 21UTC when EUR/USD was 1.1093

Euro to British Pound Sterling - 10 Year History

PeriodChange*EUR/GBPDate
1 Day+0.1%0.851616 Jan 2020
7 Day+0.1%0.851210 Jan 2020
30 Day+0.3%0.849518 Dec 2019
3 Month-1%0.860519 Oct 2019
1 Year-2.9%0.877417 Jan 2019
5 Year+11.5%0.764318 Jan 2015
10 Year-2.4%0.873519 Jan 2010

*For period to 17-Jan 21UTC when EUR/GBP was 0.8523

Euro to Australian Dollar - Historical Rates

PeriodChange*EUR/AUDDate
1 Day-0.1%1.614416 Jan 2020
7 Day+0.1%1.611410 Jan 2020
30 Day-0.5%1.621518 Dec 2019
3 Month-1%1.629619 Oct 2019
1 Year+1.8%1.584517 Jan 2019
5 Year+14.8%1.405218 Jan 2015
10 Year+4.1%1.549219 Jan 2010

*For period to 17-Jan 21UTC when EUR/AUD was 1.6134

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