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Madrid – Currency & Banking

Currency (code) euro (EUR)

Exchange Rate euros per US dollar
0.7534 (2008)
0.8034 (2007)
0.7807 (2006)

Currency is the Euro (EUR). The notes are in denominations of 500, 200, 100, 50, 20, 10, and 5 euro. The denominations of coins are 2 euro, 1 euro, 50 euro cent, 20 euro cent, 10 euro cent, 5 euro cent, 2 euro cent, and 1 euro cent. The easiest method of securing cash at the best exchange rate is to make withdrawals using a US credit card from the ATM machines found at the major banks and stores.

Banks are open Mon-Fri, 9.00-14.00 and Sat 9.00 – 13.00. In summer they may close slightly earlier. Most banks have English speaking staff and all can cope with International transactions. Commissions may be charged on foreign transactions and passports will be required for most. Most banks have a list of telephone numbers for stolen/lost credit cards although you are advised before arrival to ensure you have the relevant numbers with you.