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Foreign Currency Exchange

It's a good idea to familiarize yourself in advance with the foreign currency exchange rates and the various denominations of currency for the countries you are traveling to.

You can check current exchange rates for the euro or other currencies at a currency converter.



Sources for Acquiring Foreign Currency

  1. Order currency online and have it delivered to your home before you leave. The money will be sent in usable denominations and fully insured.
  2. Be sure to select a reputable company and consider any fees in addition to the foreign currency exchange rate.

  3. Purchase foreign currency at the airport, before you leave.
  4. Rely on ATMs once you arrive at your European destination.
  5. Purchase travelers' checks in either US dollars or the currency of the country you are traveling to.
  6. Foreign currency exchange rates vary rapidly so you will want to check the rates frequently and right before you decide to purchase your currency.

Euro

The Euro is the official currency of the European Union. While there are still many countries who have not adopted the Euro, you will probably encounter it if you travel to Europe frequently.

Euro Coins:
  • The Euro is divided into 100 cents (sometimes referred to as euro-cents, especially when distinguishing them from other currencies).
  • The coins are issued in €2, €1, 50c, 20c, 10c, 5c, 2c, and 1c denominations.
  • All coins have a common side showing the denomination, and a map in the background.
  • The coins also have a national side showing an image specifically chosen by the country that issued the coin.
  • Euro coins from any Member of the Union may be freely used in any country which has adopted the euro.

Euro Banknotes:
  • The design for the Euro banknotes have common designs on both sides.
  • Notes are issued in €500, €200, €100, €50, €20, €10, €5.
  • Each banknote has its own color and is dedicated to an artistic period of European architecture.
  • The front of the note features windows or gateways while the back has bridges.
  • A special euro currency sign (€) was designed.

The Euro has been in use since January of 2002. Currently, the Euro is in use in the following countries:

  • Andorra (not part of the European Union)
  • Austria
  • Belgium
  • Cyprus
  • Finland
  • France
  • Germany
  • Greece
  • Ireland
  • Italy
  • Kosovo (not part of European Union)
  • Luxembourg
  • Malta
  • Monaco (not part of European Union)
  • Montenegro (not part of European Union)
  • Netherlands
  • Portugal
  • San Marino (not part of European Union)
  • Slovakia
  • Slovenia
  • Spain
  • Vatican City (not part of European Union)

The following European Union countries have plans to adopt the Euro in the future:

  • Bulgaria
  • Czech Republic
  • Estonia
  • Hungary
  • Latvia
  • Lithuania
  • Poland
  • Romania
The following countries are not yet planning to adopt the Euro.

  • Denmark (meets criteria to join the EU and use the Euro but has not chosen to adopt the Euro yet)
  • Sweden has not chosen to meet all criteria to use the Euro as its sole currency. You can however use the Euro in certain areas of Sweden.
  • The UK has no plans to replace the pound with the euro in the foreseeable future.
  • And Iceland a non-European Union country is in the process of applying for membership in the European Union.


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