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Foreign Exchange Guide to Spain

Read this currency guide to Spain with money transfer and travel tips.   [USD/EUR=0.882]

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

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 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 - Exchange Rate Comparison

Travel Money Providers
Ratings & Reviews
Amount EUR(€)Exchange RateFee USDTotal CostCurrency ServicesDelivery SpeedDeal Links
Wells Fargo Bank logo
824.96 EUR
Value & Rating
0.8418$206.37%Branch-
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
824.88 EUR
€0.08 less
0.8333$106.38%Branch-
U.S. Bank
U.S. Bank logo
824.80 EUR
€0.16 less
0.824806.39%Branch-
 
Travelex Online US logo
822.70 EUR
€2.26 less
0.82270^6.63%Online order, Branch pickup, Home delivery2-3 days
Wells Fargo Bank: Travel Money USD→EUR
USD amount:$1,000 USD
Fee:$20 USD (Minimum fee)
Exchange Rate:0.8418 (4.46% from mid-rate)
EUR amount:824.96 EUR
Total Cost:6.37%
Time:12:07 Local
Currency Services:Branch
Delivery Speed:-
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:0.7710 (12.5% from mid-rate)
EUR amount:824.88 EUR
Total Cost:6.38%
Currency Services:Branch
Delivery Speed:-
U.S. Bank: Travel Money USD→EUR
USD amount:$1,000 USD
Fee:0
Exchange Rate:0.8248 (6.39% from mid-rate)
EUR amount:824.80 EUR
Total Cost:6.39%
Time:12:07 Local
Currency Services:Branch
Delivery Speed:-
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 (6.63% from mid-rate)
EUR amount:822.70 EUR
Total Cost:6.63%
Time:
Rate Fetched: Mon Dec 17 2018 10:00:04 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery Speed:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Rates @ 12/17/2018.
Total Cost = Fee + exchange rate margin vs USD/EUR mid-rate: 0.8811
 

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!

 

Foreign Transfers - Exchange Rate Comparison

Foreign Transfer Providers
Ratings & Reviews
Amount EUR(€)Exchange RateFee USDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
OFX logo
8,733 EUR
Value & Rating
0.87330^0.89%Bank Transfers - Online & Phone1-2 days
 
WorldFirst logo
8,729 EUR
€4 less
0.872900.93%Bank Transfers - Online & Phone1-2 days
Wells Fargo Bank logo
8,551.58 EUR
€181 less
0.8567182.94%Online, Branch, Bank Transfers2-3 days
HSBC logo
8,545.16 EUR
€188 less
0.8558$153.02%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
8,493 EUR
€240 less
0.8543153.61%Online, Branch, Bank Transfers2-3 days
Bank of America
Bank of America logo
8,437.77 EUR
€295 less
0.8523$1004.24%Online, Branch, Bank Transfers2-3 days
U.S. Bank
U.S. Bank logo
8,437.77 EUR
€295 less
0.8523$1004.24%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:0.8733 (0.89% from mid-rate)
EUR amount:8,733 EUR
Total Cost:0.89%
Time:
Rate Fetched: Mon Dec 17 2018 10:02:26 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.8/5.0
Reviews:
WorldFirst: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:
Exchange Rate:0.8729 (0.93% from mid-rate)
EUR amount:8,729 EUR
Total Cost:0.93%
Difference:
€4 less than using OFX
Time:12:07 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.6/5.0
Reviews:
Wells Fargo Bank: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:18
Exchange Rate:0.8567 (2.77% from mid-rate)
EUR amount:8,551.58 EUR
Total Cost:2.94%
Difference:
€181 less than using OFX
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:0.8558 (2.87% from mid-rate)
EUR amount:8,545.16 EUR
Total Cost:3.02%
Difference:
€188 less than using OFX
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:0.8506 (3.46% from mid-rate)
EUR amount:8,493 EUR
Total Cost:3.61%
Difference:
€240 less than using OFX
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:0.8523 (3.27% from mid-rate)
EUR amount:8,437.77 EUR
Total Cost:4.24%
Difference:
€295 less than using OFX
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:0.8523 (3.27% from mid-rate)
EUR amount:8,437.77 EUR
Total Cost:4.24%
Difference:
€295 less than using OFX
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 @ 12/17/2018.
Total Cost = Fee + exchange rate margin vs USD/EUR mid-rate: 0.8811
 

Popular EUR cross rates


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

DateExchange RatePeriodChange
16 Dec 20181.1310Latest
09 Dec 20181.14001 Week-0.79%
16 Nov 20181.14211 Month-0.97%
19 Jun 20181.15886 Months-2.4%
16 Dec 20171.17561 Year-3.79%
16 Dec 20161.04332 Years+8.41%
17 Dec 20131.37715 Years-17.87%
18 Dec 20081.434110 Years-21.14%

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

DateExchange RatePeriodChange
16 Dec 20180.8984Latest
09 Dec 20180.89631 Week+0.23%
16 Nov 20180.88951 Month+1%
19 Jun 20180.87976 Months+2.13%
16 Dec 20170.88241 Year+1.81%
16 Dec 20160.83642 Years+7.41%
17 Dec 20130.84645 Years+6.14%
18 Dec 20080.944910 Years-4.92%

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

DateExchange RatePeriodChange
16 Dec 2018128.2940Latest
09 Dec 2018128.26521 Week+0.02%
16 Nov 2018128.86371 Month-0.44%
19 Jun 2018127.57256 Months+0.57%
16 Dec 2017132.35721 Year-3.07%
16 Dec 2016123.04582 Years+4.27%
17 Dec 2013141.40405 Years-9.27%
18 Dec 2008127.813210 Years+0.38%

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

DateExchange RatePeriodChange
16 Dec 20181.5745Latest
09 Dec 20181.58751 Week-0.82%
16 Nov 20181.55721 Month+1.11%
19 Jun 20181.56826 Months+0.4%
16 Dec 20171.53741 Year+2.41%
16 Dec 20161.42692 Years+10.34%
17 Dec 20131.54675 Years+1.8%
18 Dec 20082.063910 Years-23.71%

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

DateExchange RatePeriodChange
16 Dec 20181.5137Latest
09 Dec 20181.51961 Week-0.39%
16 Nov 20181.50161 Month+0.81%
19 Jun 20181.53876 Months-1.62%
16 Dec 20171.51271 Year+0.07%
16 Dec 20161.39202 Years+8.74%
17 Dec 20131.45965 Years+3.71%
18 Dec 20081.715310 Years-11.75%

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