Free Newsletter Interested in Italy? Site Search IT aliana versione Show the navigation menu. Restaurants and shops Many restaurants only accept cash as well as vineyards and smaller shops so be prepared with more cash than you might carry in the U. The current exchange rate in February is 1. Home Our Role Foreign exchange operations Exchange rates back:
Changing money in Italy. Just like Spain, Italy is known italy have milan currency exchange rates, compared with banco offered in other European countries such as France and the UK.
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Receive reported values for your favourite economic indicators in your inbox the instant they get released. It's a free service! Also, you can get arrested. The current exchange rate in February is 1. The lower this number, the better the exchange rate for you, since it means it costs you less to buy each euro. Over the course of , the exchange rate has bounced from a low of 1. Now all those numbers represent the official interbank rate , which is what most newspapers print in their business sections.
However, this only represents how much it costs banks to exchange money with each other—and it's a rather better rate than you'll ever get. On top of this, any place will charge you a commission —either a flat fee in which case changing a lot of money at once is cheaper or a percentage of the total changed in which case you're bleeding needlessly no matter how much or little you change.
Luckily, in the past few years computerized banking has ridden in on its white overcharger to save the day—or at least a few bucks for you. If you bypass the outdated and outmoded traveler's checks and steer clear of dealing with actual people, you can shave a few percentage points off. If you take money out of a cash machine —either using your own bankcard linked to your personal checking account, or with a cash advance on a credit card—you will get that favorable interbank rate.
Creeping bank fees I have heard that some American banks have begun charging a higher fee for international withdrawals and, sadly, many U. Ask your local bank before traveling to avoid a nasty surprise. You can get much more on this and other financial issues at the excellent financial planning site BankRate. Or at least, you should. In reality, you often don't.
Credit unions are usually a good bet. Even with all that, using an ATM linked to your checking account is, for now, the cheapest way to get money, and paying cash is the cheapest way to travel. Universal Currency Converter www. Use whichever interface you prefer. More info on exchange rates: ATMs seem to have a higher failure rate in Italy, so do not assume that if you find a location online that it will be working.
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Free Newsletter Interested in Italy? We'll send you updates with the latest deals, reviews and articles for Italy each week. This article contains a discussion by TripAdvisor members concerning the above topic.
Please note that the discussion was closed to any additional postings as of Nov 1, and, as such, some of the information contained herein may be outdated and cannot be commented on by travelers at this time.
Please take this into account when making your travel plans. Restaurants and shops Many restaurants only accept cash as well as vineyards and smaller shops so be prepared with more cash than you might carry in the U. TripAdvisor LLC is not responsible for content on external web sites. Taxes, fees not included for deals content.
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How to exchange your dollars for euros at the best rates (and lowest fees) possible Return to the home page. Disclaimer – Google Finance. I forex travelled to many countries and Italy is one of the italy which are difficult to exchange currencies. Italy is known for its great food and friendly welcome. A foreign exchange program in Italy is a fun way to get to know the country while improving your Italian language skills for your studies or . The foreign exchange reference rates of the Euro are based on the procedure established by the European System of Central Banks (ESCB). They are based on a daily concertation procedure between the leading central banks, which takes place at (CET).