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Euro
About The Euro: The Second Most Widely Used Currency
Quick Facts About the Euro Notes
| Country of Origin | European Union (EU) |
| Symbol | € |
| Currency Code | EUR |
| Nick Names | Fiber or Single Currency |
| Minor units | Cent |
| Denominations (Banknotes) | 5, 10, 20, 50, 100, 200 and 500 Euro |
| Motto | |
| Identification Feature | The fresh new five euro note was introduced into circulation on May 2, 2013, signalling the start of the production of the second series of euro banknotes. The series, which has been given the name "Europa" after the Greek princess, features her portrait on each note. |
| Issuing Bank | The national central banks of the Eurosystem or the European Central Bank. |
| In Circulation Since | January 1, 1999 |
| INR Exchange Rate | 100.9023 |
Euro is the second most actively traded currency and the second most widely used reserve currency in the world. Euro is the official currency of the (EU) European Union. Although the European Union currently has 27 member states, only 19 of those states use the euro. The Euro symbol is €.
Due to Euro's contribution to the simplification of European trade and travel as well as the advancement of EU political integration, the currency enjoys widespread support among the states that make up the EU.
The live Euro rate is INR (100.9023 ) . You can keep an eye on the real-time Euro price.
History of the Euro
The Delors Report recommended a three-year transition phase between 1990 and 1999 to ease people into the new financial system of the Euro and the economic and monetary unity it would bring. The Delors Report was adopted by European leaders.
After a decade of planning, on January 1, 1999, Euro was introduced. For the first three years, it was an ‘invisible’ currency, used primarily in book-keeping and digital transactions. On January 1, 2002, Euro coins and banknotes were first introduced in 12 European Union nations, marking the largest monetary transition in history. It quickly replaced the old national currencies but expanded more slowly than the rest of the EU. The Lisbon Treaty established the Eurogroup as the treaty's political authority in 2009.
Countries Accepting the Euro
As of 2015, 19 of the 28 member states of the European Union (EU) had already adopted the Euro as their only currency. The Euro Area, or Eurozone, consists of the member states of the European Union.
Here is a list of the countries where the Euro is used as the official currency:
Austria
Cyprus
Germany
Greece
Estonia
Belgium
Finland
France
Ireland
Latvia
Lithuania
Italy
Luxembourg
Netherlands
Portugal
Slovakia
Malta
Slovenia
Spain
Amount in the Euro You Should Carry for Your Trip
A few of the factors that go into determining the final cost of a vacation include the mode(s) of transportation taken to get there, the type of accommodation reserved, and the amount of money spent while on vacation.
You can check the Euro rate today in order to have a cost-efficient vacation. Here is a breakdown of the money you'd need to carry in some of the popular countries of Europe:
France: Everyday budget can range between €64 to €611, depending on if you are embarking on a budget trip or would like a lavish experience in France.The cost per person, per night, at an accommodation would range between €39 to €445. Also, the transportation will cost you about €9 to €60.
Germany: Daily costs in Germany might be as low as €49 or as high as €293, depending on whether you want to travel on a tight budget or splurge throughout your stay. There are also options to choose from in terms of the cost of a hotel room, from €25 to €135 per night, per guest. In addition, you may be expected to pay between €7 to €48 for transportation.
Austria: Depending on your travel style and budget, you could spend as little as €47 or as much as €290 every day in Austria. The cost of a hotel room can vary widely as well, from €25 to €152 per night (per person). In addition, the cost of transportation could range from €7 to €54.
Italy: Daily costs in Italy can range from €52 to €334, based on your travel preferences and level of luxury. As an additional example, the price of a hotel room can range anywhere from €27 to €167 per night. Transportation costs could add another €8 to €55 to the total.
Spain: The average daily budget can be anywhere from €47 to €309, depending on whether you are travelling on a tight budget or would like to have a luxurious experience in Spain. In addition, the cost of accommodation ranges from €21 to €131 per person, per night. In addition, the cost of the transportation will range between €8 and €53.
Best Ways to Identify Counterfeit Euro Notes
There are a few ways through which you can spot the counterfeit Euro notes:
Touch the banknote to feel its material. Cotton is used to make an authentic banknote paper; so it will be crisp and firm to the touch.
The ECB initials, the gateway or window, the value number, and the writing are all printed in a raised texture on an authentic banknote paper, creating a tactile sensation.
Microprinting on both sides of the bill must be examined. An authentic note has a very clear microprinting, not blurred.
See if the paper itself glows when exposed to UV light. Paper fibres of various colours—green, blue, and red—appear in the first batch of authentic notes. In the Europa series, each fibre displays three distinct hues.
Examine the bill in direct sunlight. Notes from the Europa series (€20, €50, €100, and €200) have a portrait window, a watermark, a security thread, and a see-through number (although only in the first series).
Process of Exchanging the Euro
The process of converting the Euro to Indian Rupee is immensely easy. Please note that the 1 Euro to INR value is subject to change so keep an eye on the Euro rate alert. Below, we have mentioned some of the popular ways to convert Euros to Rupees.
Internationally-Accepted Card
A multi-currency forex card is counted among the most economical and safest way of carrying the Euro.
The BookMyForex Multi-Currency card can be loaded in 14 currencies and features zero forex mark-up.
Online Forex Marketplace
The simplest and most cost-efficient way of converting your Euro is using an online forex marketplace such as BookMyForex, a platform by MakeMyTrip, offering the best conversion rates and currency exchange service. The platform offers a 5-minute fully-digital online process for currency exchange.
Visiting Your Bank
The most traditional way of converting the Euro to Rupee is by visiting a bank and standing in long queues. It is not only time-consuming but you also end up paying a high cost for making the Euro convert to Indian Rupees.
Local Money Changers
You can look for an Authorised Dealer Category II or someone who has a money changers licence. Money exchangers offer competitive Euro exchange rates, and you’d not need a bank account in this case. However, the process of rate haggling can be quite frustrating for those who are looking for an easy way to convert Euro to INR.
On the other hand,BookMyForex, the online marketplace, offers internationally-accepted forex card and currency notes at the best rates via a convenient online process.
Airport
If you would like to convert the Euro in India, one of the costliest ways to do so would be to get the Euro exchanged at an airport due to the exorbitantly high EUR exchange rates. Currency exchange at the airport will prove to be 5%-15% costlier than BookMyForex.
Exchange the Euro with BookMyForex
BookMyForex, the online forex marketplace by MakeMyTrip, makes it a hassle-free affair for you to convert the EUR to Indian Rupees as well as Indian Rupee to Euro. Please note that the 1 Euro to INR value is subject to change so keep an eye on the Euro rate alert. You should choose MakeMyTrip for currency exchange for the following reasons:
Wide Range of Products
Forex (Currency Notes) - Available in 100+ cities across India, BookMyForex allows you to get your currency notes delivered on the same day or the next day after 100% digital booking.
BookMyForex Multi-Currency Card - You can load this card in 14 currencies with 0% Forex Mark-up. Once you have booked this card, you can receive it the same day (if booking is made before 1 PM) or the next.
International Travel Insurance - MakeMyTrip also offers international travel insurance at cheapest rates in the market. Also, you can opt for this product if you’d like MMT to handle your mandatory travel insurance requirements along with a VISA application.
Travel Loan - With TripMoney, you can avail a travel loan of up to INR 1,00,000 (lifetime limit) for all your travel and holiday needs.
Best Exchange Rates
BookMyForex makes it easy for you to buy Euro or sell Euro at live and best exchange rates.
Quick Money Transfer
You can also enjoy quick international money transfers on BookMyForex. The 5-minute digital process offers the best forex rates, and you can receive funds abroad within 12 to 48 hours.
Home Delivery
BookMyForex delivers the Euros at your doorstep. So, you can simply order and receive your currency from the comfort of your home.
Best Rates to Exchange the Euro
You’d need to keep an eye on the current currency rates, if you’d like to know the exact value you’d get on converting 1 Euro in Rupees. The exchange rates keep on fluctuating. BookMyForex, an online forex marketplace by MakeMyTrip, keeps you updated with the live currency exchange rates. You can keep up with the changing value of 1 Euro in India in real-time on the platform and get the best deal. Currently, 1 EUR is equivalent to 100.9023 INR .
Best Ways to Carry the Euro
BookMyForex allows you to convert INR to the Euro at the best exchange rates so that you can carry the Euros without any hassle. Some of the best ways to carry the Euro are mentioned below:
Currency Notes
You can buy the US Dollar notes at live and best exchange rates on BookMyForex so that you can be ready for your trip with sufficient cash in your hand.
BookMyForex Multi-Currency Card - 0% Forex Mark-Up
The Multi-Currency Forex Travel Card available on MakeMyTrip with BookMyForex as the co-branding partner comes with 0% forex mark-up over interbank rates.
How to Buy the Euro at Best Rates - Currency Notes and Cards
Whether you want to buy forex cards and currency notes or sell the Euro, MakeMyTrip makes the entire process quite easy. It doesn’t matter whether you want to convert the Euro to Dollar or INR to Euro, you only need to follow the below-written steps:
- STEP 01
Select your city from the drop-down list.
- STEP 02
Choose the currency you have and the currency you want.
- STEP 03
Opt for a forex card or currency notes from the list.
- STEP 04
Mention the forex amount. The live currency exchange rate will show up next to it.
- STEP 05
The converted currency amount according to the exchange rate will show up automatically.
- STEP 06
Then proceed with booking your order.
Documents Required to Buy or Sell the Euro
Here are some important documents mandated by the RBI that you must submit in order to buy or sell the Euro in India.
Copies of your valid Indian passport
PAN Card
Confirmed air ticket indicating your plan to travel within 60 days
Valid visa (it may not be required for every country)
Different Purposes for Exchanging the Euro
Private Travel: You can avail of up to EUR 10,000 for a private trip to the Europe.
Studying Abroad: You can purchase foreign exchange of up to EUR 30,000 or up to the estimate shared by your educational institute.
Employment Purpose: In case you have a letter of employment, you can buy foreign exchange of up to EUR 5,000.
Emigration: If you have an emigration visa, you can buy foreign exchange for up to EUR 5,000.
Gift and Donation: You can gift or donate up to EUR 5,000 annually on the basis of self-certification
Medical Treatment: On the basis of self-certification, you can buy foreign exchange of up to EUR 50,000 for medical treatments outside of India. Once the limit is surpassed, you have to provide the estimated expense that would be incurred at the hospital.
Buy and Sell the Euro Online at Best Exchange Rates
With BookMyForex, the online forex marketplace by MakeMyTrip, you can easily convert your currency. Enjoy unbeatable currency exchange rates and opt for BookMyForex Multi-Currency Cards as well as foreign currency notes. with no forex mark-up. MakeMyTrip also present the real-time value of one Euro in Indian Rupees so that you can stay updated with the ever-changing Euro value when converting your money to other currencies.
Home Delivery of the Euro
In addition to a smooth online process, BookMyForex also delivers the Euros right at your doorstep. In fact, you can enjoy same-day door delivery. So, you do not have to waste any time visiting a local money exchanger and picking up your money.
Other currencies to INR Conversion
- USD to INR
- EUR to INR
- AED to INR
- THB to INR
- SGD to INR
- KWD to INR
- CHF to INR
- HKD to INR
- SAR to INR
- CAD to INR
- ZAR to INR
- AUD to INR
- JPY to INR
- GBP to INR
- NZD to INR
- MYR to INR
- VND to INR
- BHD to INR
- IDR to INR
- KRW to INR
- NOK to INR
- DKK to INR
- RUB to INR
- LKR to INR
- PHP to INR
- MUR to INR
- BDT to INR
- PLN to INR
Frequently Asked Questions
How do i get cashback after placing my forex order?
Find out more about the cashback offer for your Euro (EUR) purchase by clicking here.
How much time will it take for EUR to be delivered to home?
Currency exchanges made through currency notes and cards can get delivered within a day.
How much EUR can I carry to Schengen regions as a student?
While entering or leaving any Schengen country, travellers can easily carry an amount of up to 10,000 Euros. In case the carrying amount exceeds the set limit, then the tourist must provide a valid declaration.
What will happen to the leftover Euro currency when I return from my trip?
You can easily exchange any leftover currency notes or the money left in your Forex card with MakeMyTrip, powered by BookMyForex, once you have returned from your trip.
Can I invest in the Euro?
Yes, you can invest in the Euro via mutual funds, ETFs, or ETNs. However, you should keep an eye on market fluctuation and geopolitical concerns.
Will I receive authentic Euro notes?
Yes. MakeMyTrip offers genuine notes from RBI-licensed companies only.
Is it legally allowed to hold Euro in India?
While it is acceptable to hold the Euro up to the amount authorised by RBI, you cannot use this currency for any kind of transaction in India.
What if I run out of the Euro currency while travelling?
If you are carrying a MakeMyTrip multi-currency Forex card while travelling, then you can easily load it up and receive the money abroad within 48 hours.
1 Euro comprises how many euro cents?
1 Euro is divided into 100 Euro cents. While the Euro symbol is ‘€’, the Euro cent is represented by ‘c’.
How much Euro currency is in circulation?
With about €1.3 trillion in circulation as of December 2019, Euro is the second most-traded currency in the world right after the US Dollar and is also the second-largest reserve currency.
Can I use Euro in other countries?
You can freely use the Euro currency in 20 out of 27 EU member countries that have adopted it as their legal tender. You can also use this currency for trading in overseas territories such as the Azores, Ceuta and Melilla, the Canaries, Guadeloupe, French Guiana, Martinique, Mayotte, Madeira, Saint Barthélemy, Réunion and Saint Pierre and Miquelon.
Why does Euro fluctuate in the market?
The Euro rate fluctuates in the market due to a number of reasons, including the floating exchange rates, supply and demand, inflation, interest rate and economic growth.
Are there any commemorative coins issued?
Each country that lies in the euro area can issue two commemorative coins every year. The €2 commemorative coins are used to celebrate the anniversaries of historical events or some special current events.