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Europe Currency Exchange

Currency Exchange comes into our minds when we plan to visit somewhere, specially in foreign countries. A comprehensive knowledge of the currency of that country is required. Since Currency Exchange varies from place to place and also from one day to the other, so, where you are exchanging and how you are making Currency Exchange, makes a lot of difference to your wallet. So, before visiting Europe, get to know about the current exchange rate. You can take help from the universal currency converter to know.

The currency in most of the part of Europe is Euro. Euro has been successful in replacing the currencies of 12 nations in the Western part of Europe. So, you do not have to use D-Marks in Germany or Francs in France. If you convert your money to Euro, you will be able to use those in 12 countries which have agreed to join European Monetary Union. There are 100 divisions in Euro. EUR is used as abbreviation and the symbol by which it is represented is . the participating countries of Euro are Belgium, France, Greece, Germany, Ireland, Austria, Finland, Spain, Luxembourg, Italy, Portugal and Netherlands.

The most popular way of Currency Exchange is through ATMs, as they offer better exchange rates than what you will get by travelers cheques or by cash. In ATM, the rate of Currency Exchange is made in terms of interbank rate of wholesale. But, have a talk with the banks, as sometimes they charge conversion fees from the amount which is exchanged. If you are traveling in the western Europe, then carry some amount in travelers cheques as you may not find a number of ATMs all the times, though there are a number of ATMs in Europe.

Travelers cheques are especially required when you will visit smaller towns or cities or even nations which have much weaker economy.

Most of the prices for different commodities in Europe require VAT or Value Added Tax, which can be as high as 25%. Much like sales tax, VAT is included within the price and not added in cash register.

For more help, you can have a talk with your bank and after visiting Europe, do visit the respective bank and clear your doubts. Lots of ATMs are there in Europe, so Currency Exchange will not be a major problem through ATM. Therefore, start your journey to Europe with a happy note.

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