Currency in Germany: exchange, import, money. What is the currency in Germany?
Currency in Germany
Germany is the largest country in western Europe. This country is quite popular among foreign tourists. Perhaps many people have a question: What is the currency in Germany? Germany is a member of the European Union and the country's national currency is the euro. This currency has been put into circulation since the beginning of 2002. Of course, it makes sense to talk about the currency that precedes the euro, namely the German mark..
German mark
The German mark began to be used after the Second World War, more precisely in 1948. The currency was in circulation until 2002, i.e. before the official changeover to the euro. The German mark was issued in the form of coins and banknotes. Coins in 1, 2, 5, 10 and 50 pfennings, as well as 1, 2 and 5 German marks (DM). Banknotes were circulated in denominations of 5, 10, 20, 50, 100, 200, 500 and 1000 DM.
Throughout its history, the Deutsche Mark has been considered one of the strongest and most stable currencies. The changeover to the euro was carried out in 1999, but until 2002 the Deutsche Mark remained legal tender. Since the beginning of 2002 the exchange rate was 1 euro = 1.95 DM.
Interestingly, in 2005, according to the German Bank, 45% of the coins in circulation were not exchanged, which is 7.24 billion German marks. And also 3% of bills, which is 7.59 billion German marks.
What currency to take to Germany
Many foreign countries are advised to take euros or dollars, since they have the most favorable exchange rate. For Germany, the main currency is the euro; therefore, it is most profitable to take this currency with you. However, if for some reason you took dollars with you - that's okay, foreign currency can be easily exchanged at exchange offices.
The import of currency into Germany is limited to 10 thousand euros, but there are no restrictions on the export..
Currency exchange in Germany
As in many countries, you can exchange currency in Germany in various institutions - airports, banks, exchange offices, post office, etc. You can get the most favorable conditions at banks or exchange offices. The worst exchange conditions at airports. Most banks in Germany are open from 8 am to 5 pm.
In addition, currency can be exchanged using ATMs, sometimes it turns out to be much more profitable. However, it is worth checking with the bank that issued the card about the conditions for making card transactions in foreign countries..
Payment by card
Money in Germany can be withdrawn from ATMs, but in addition to cash, many establishments accept plastic cards. The card can be used to pay for various goods in shops, services in hotels, etc..