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Currency

 

As of January 1st, 2002, the new currency of Spain, like that of most European Union countries, is the EURO. The Euro has been introduced in Belgium, Germany, Greece, Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal, and Finland.

 

One Euro is divided into 100 centimes. There are eight different coins worth 1, 2, 5, 10, 20, and 50 centimes, and 1 and 2 Euros. Banknotes come in 7 denominations: 5, 10, 20, 50, 100, 200, and 500 Euros.

 

Tourists may bring up to 6,010.12 Euros (approximately $5,724.00) without declaring the amount at customs. Any amount exceeding 6,010.12 Euros must be declared on arrival. Upon leaving Spain, tourists carrying more than 6,010.12 Euros (or equivalent in any other form of currency) must declare it. The current rate of exchange is approximately $1.00 = 1.05, but it may vary from week to week. For an updated exchange rate, check with newspapers or banks.

 

 

Exchange rates vary from bank to bank both in the U.S. and Spain.  In general you will be able to get the most favorable rates at any of the exchange facilities at any airport in Spain. Traveler's checks in U.S. dollars should be exchanged in banks or exchange offices as there are not very widely accepted. Banks in Spain are usally open Monday to Friday from 9 am to 2 pm. Major credit cards are accepted throughout the country in most restaurants, hotels, gas stations and toll booths. ATM cards can also be used for cash withdrawal in any of the thousands of ATMs available in Spain provided that the signs at the back of the card match the signs on the ATM machine. However, ATMs in Spain only accept four digit PINs so it is very important to make sure you have a four digit PIN before traveling.

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