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Foreign Exchange Guide to Spain

Read this currency guide to Spain with money transfer and travel tips.   [USD/EUR=0.8785]

 
Spain
Country Code:
ES
Domestic Currency:
Euro
Symbol - Code:
€ EUR
Telephone Prefix:
+34

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


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

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 and British pound between mid-April and mid-June. Due to a stronger US dollar, EUR/USD was down 2 percent on the year at $1.12, close to long-term lows.

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 Spain

 

There’s always an excuse to visit Spain… whether it’s for the glorious sunshine, lazy-day siestas or soaking up those beautiful sights – the whole country is a open book of experiences that are definitely too beautiful to resist. The Pyrenees and the Picos de Europa are as beautiful as any mountain range on the continent, while the snowcapped Sierra Nevada rises up improbably from the sun-baked plains of Andalucía; these are hiking destinations of the highest order. The wildly beautiful cliffs of Spain’s Atlantic northwest are offset by the charming coves of the Mediterranean. And everywhere you go, villages of timeless beauty perch on hilltops, huddle in valleys and cling to coastal outcrops as tiny but resilient outposts of Old Spain. That's where the country's charms are most likely to take hold.

Windswept Roman ruins, cathedrals of rare power and incomparable jewels of Islamic architecture speak of a country where the great civilisations of history have risen, fallen and left behind their indelible mark. One of the best aspects about visiting Spain though is the sheer diversity you can find all across the country – the cultures, food and even languages can change quite dramatically depending on where you find yourself in Spain. This of course only adds to the excitement of visiting and re-visiting Spain as each time afford you the possibility of having a fantastic new experience in a familiar place.

The Spaniards love visitors, hosting strangers, drinking good wine, laughing at a good meal, and enjoying life. A fiery, passionate place, this country will stay withy you forever and, unlike other Western European countries, will be a lot kinder to your wallet.

What currency to use in Spain?

The euro is the only currency accepted in Spain, and it is unlikely you'll be able to use anything else, even in the airport. It may be possible to exchange old Spanish peseta notes in a bank, but the easiest way to get Euros is to use an ATM. ATMs are available  everywhere in the larger cities, in the smaller towns you may have to walk a bit to the nearest one. Pickpocketing is something to watch out for in Spain, so instead of carrying your main credit card on you purchasing a Prepaid Travel Card before leaving home may save unnecessary hassles.

How to get around in Spain?

Most of the major cities have excellent local transport. Madrid and Barcelona have extensive bus and metro systems. Other cities and provincial capitals all have reasonable bus networks. You can buy single tickets on the buses or at estancos (tobacconists), but in cities such as Madrid and Barcelona, you are better off buying combined 10-trip tickets that allow the use of a combination of bus and metro, and which work out cheaper per ride. These can be purchased in any metro station and from some tobacconists and newspaper kiosks.

Most travellers in Spain don’t get city passes, but if you plan to do a lot of city sightseeing, they are a good investment. All the major cities have multiple museums, attractions, and activities. Getting a city pass can save you up to 20% on these activities and get you free transport. If you are going on a sightseeing binge, get the pass!

Madrid has the countries most extensive metro train network, the other cities have reasonable but useful metro trains. The bigger cities have plenty of Taxis, but not so in the smaller towns.

Travel tips for Spain.

There are some pretty beautiful cities in Spain, including but not limited to the amazing; Valencia, Madrid, Barcelona and Granada, but don’t think the cities are all there is to see! The beautiful Mediterranean coast, mountainous Basque region and the plains around Madrid all provide ample stomping ground for us travellers to see and explore a different aspect of this stunning country.

Most people understand at least a little English in Spain, most of the younger generation are fluent.

A siesta is a pretty big deal in Spain… and rightly so! Usually, around 1-4pm, many shops, offices and restaurants will shut their doors for a little afternoon kip. Take advantage of this time to chill-out and relax… or even enjoy a cheeky siesta yourself, after all it’s your holiday!

One thing to note (especially if you’re not from Southern Europe) is that dinner is usually much later than its Northern European neighbours. Dinner will usually start around 10pm for locals and can last a good few hours. Food is not rushed and is an amazing opportunity to socialise until the wee hours in your new local haunt.

 

Travel money for Spain

 

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
821.70 EUR
Compare
0.821706.39%
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
813.49 EUR
8.21 EUR
0.8217$107.33%
Travelex Online US logo
807.10 EUR
15 EUR
0.80710^8.05%
Wells Fargo Bank logo
805.27 EUR
16 EUR
0.8217$208.26%
 

U.S. Bank logoU.S. Bank

U.S. Bank: Travel Money USD→EUR
USD amount:$1,000 USD
Fee:0
Exchange Rate:0.8217 (6.39% from mid-rate)
EUR amount:821.70 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:0.7681 (12.5% from mid-rate)
EUR amount:813.49 EUR
Total Cost:7.33%
Currency Services:Branch
Delivery/Collect:-
Travelex Online US: Travel Money USD→EUR
USD amount:$1,000 USD
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:0.8071 (8.05% from mid-rate)
EUR amount:807.10 EUR
Total Cost:8.05%
Time:
Rate Fetched: Tue Jun 25 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:
 

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:0.8217 (6.39% from mid-rate)
EUR amount:805.27 EUR
Total Cost:8.26%
Time:6:00 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 
Snapshot 06/25/2019 - See full table
 

Spain Trip Checklist    

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

Sending money to Spain

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

Buying Property in Spain

Overseas buyers investing more than 500,000Euros in Spanish property are automatically eligible for a residency visa.

For non-EU citizen purchasers, permission for permanent residence can be obtained by opening a spanish bank account with more than US$150,000 and owning a business.

Look to spend 8-14% of the property value on buying costs, with legal fee around an additional 2%.


Get a better deal for foreign transfers to Spain

When sending money to Spain 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 Spain.

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

  

ProvidersReceive EUR(€)Exchange RateFee USDTotal CostDeal Links
OFX logo
8,743 EUR
Best Overall
0.87430^0.4%
Wells Fargo Bank logo
8,493.68 EUR
249 EUR
0.8509183.24%
HSBC logo
8,488.25 EUR
255 EUR
0.8501$153.3%
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
8,436 EUR
307 EUR
0.8486153.89%
Bank of America International Money Transfers
Bank of America logo
8,381.34 EUR
362 EUR
0.8466$1004.52%
U.S. Bank International Money Transfers
U.S. Bank logo
8,381.34 EUR
362 EUR
0.8466$1004.52%
 
OFX: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:0.8743 (-0.4% from mid-rate)
EUR amount:8,743 EUR
Total Cost:0.4%
Time:
Rate Fetched: 6:00 Local
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:0.8509 (-3.06% from mid-rate)
EUR amount:8,493.68 EUR
Total Cost:3.24%
Time:6:00 Local
Rating:
: /5.0
Reviews:
 

HSBC logoHSBC

HSBC: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:$15 USD (.15%)
Exchange Rate:0.8501 (-3.16% from mid-rate)
EUR amount:8,488.25 EUR
Total Cost:3.3%
Time:6:00 Local
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:15
Exchange Rate:0.8449 (-3.75% from mid-rate)
EUR amount:8,436 EUR
Total Cost:3.89%
 

Bank of America logoBank of America

Bank of America: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:0.8466 (-3.55% from mid-rate)
EUR amount:8,381.34 EUR
Total Cost:4.52%
Time:6:00 Local
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:0.8466 (-3.55% from mid-rate)
EUR amount:8,381.34 EUR
Total Cost:4.52%
Time:6:00 Local
Rating:
: /5.0
Reviews:
 
Snapshot 06/25/2019 - See full table
 

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

PeriodChange*EUR/USDDate
1 Day+0.13%1.138523 Jun 2019
1 Week+1.57%1.122417 Jun 2019
1 Month+1.72%1.120725 May 2019
6 Months+0.34%1.136126 Dec 2018
1 Year-2.24%1.166124 Jun 2018
5 Years-16.36%1.363025 Jun 2014
10 Years-18.99%1.407326 Jun 2009

*For period to 24-Jun 21UTC when EUR/USD was 1.1400

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

PeriodChange*EUR/GBPDate
1 Day+0.26%0.892923 Jun 2019
1 Week+0.03%0.894917 Jun 2019
1 Month+1.55%0.881525 May 2019
6 Months-0.33%0.898226 Dec 2018
1 Year+1.81%0.879324 Jun 2018
5 Years+11.54%0.802625 Jun 2014
10 Years+5.03%0.852326 Jun 2009

*For period to 24-Jun 21UTC when EUR/GBP was 0.8952

EUR/AUD - Euro to Australian Dollar - Historical Rates

PeriodChange*EUR/AUDDate
1 Day-0.1%1.639023 Jun 2019
1 Week-0.04%1.638017 Jun 2019
1 Month+1.22%1.617625 May 2019
6 Months+1.96%1.605926 Dec 2018
1 Year+4.45%1.567624 Jun 2018
5 Years+12.93%1.449925 Jun 2014
10 Years-6.11%1.744026 Jun 2009

*For period to 24-Jun 21UTC when EUR/AUD was 1.6374

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