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Italy Currency

A trip to Italy, one of the popular sites of tourism must always be well - planned. This foreign country of visit features many checks for the tourists that must be well known in advance. While planning a tour to Italy, you must also possess a knowledge concerning the currency and other monetary facts in Italy. The official currency in Italy is the euro. Lira as the official Italy currency was replaced in 2002. You can convert US dollars to Euros by visiting any banks in Italy. The currency exchange rate as of October 29, 2010 is 1.38 US dollars to 1 Euro.

Currency Exchange Tips in Italy



In general, it is said that converting money in Italy than at home is cheaper. Here is a list of some tips that would make your currency exchange an easier process and offer a great holiday in Italy.

  • While you will have the provision of exchanging your currency to Italy currency at the airport on your arrival, it is safer to carry enough foreign currency for at least 24 to 72 hours.

 

  • While, going for money conversions in foreign countries always try to opt for banks or money chargers. These financial institutions have at most a 5 per cent margin between their buy prices and sell prices.
  • It is also advisable that you exchange money at larger amount because you will be losing money with each transaction. However, this method works only if the currency rate is not depreciating rapidly.  

 

  • If you use traveler’s checks or bills, carry some amount in small denomination, an equivalent of around 50 USD dollars for times when you will have to convert money at poor rates.
  • Always try to carry some USD dollars in general, around 50 USD dollars, as they are often preferred by local tellers. 

The Euro as of January 1, 2009 is the official currency of 16 member nations of the European Union including Italy. This currency holds some positive and negative consequence for the visitors traveling in more than one Euro-zone country. Moneychangers in around the euro-zone are obliged to exchange money at the official, fixed rate, and at no-commission. You can also pay for goods and services across the euro-zone at the official rate and commission- free.

Currency Denomination in Italy

The country converted its currency rates in the year 2002. Notes come in denomination of €500, 200, 100, 50, 20, 10 and 5. Coins are in denominations of €2, 1 and 50, 20, 10, 5, 2 and 1 cents. You can use the currency converter to know more about the value of the Euro against other currencies.

You can exchange traveler’s cheques, cheques and foreign money at banks, railway stations and airports, and very often at major hotels (usuually at a less convenient rate).However, if you do not wish to exchange your currency in Italy, you can also use credit cards, debit cards, and traveler’s checks during your Italy visit. Most merchants in Italy accept MasterCard and Visa along with Dinners Club Card. While in Italy, you can also visit the banks to convert the Italy currency to Euros.

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