Germany Currency

Currency

The euro has been Germany’s official currency since 2002. Euros come in seven notes (€5, €10, €10, €20, €50, €100, €200 and €500) and eight coins (one- and two-euro coins and one-, two-, five-, 10-, 20- and 50-cent coins). Since its inception, the euro has held a strong and stable value. In comparison to the USD, it generally fluctuates between 0.4 and 0.6 cents. For current rates, check with your bank or online at www.xe.com/ucc or www.oanda.com.

You can exchange money at many banks and post offices as well as foreign-exchange offices. American Express and Thomas Cook/Travelex offices are also reliable stand-bys.

Prices for goods and services include a value-added tax (VAT), called Mehrwertsteuer, which is 19% for regular goods and 7% for food and books. If your permanent residence is outside the European Union, you can have a large portion of the VAT refunded, provided you shop at a store displaying the ‘Tax-Free for Tourists’ sign and obtain a tax-free form for your purchase from the sales clerk. At the airport, show this form, your unused goods and your receipt to a custom official before checking your luggage. The customs official will stamp the form, which you can then take straight to the cash refund office at the airport.

Electronic banking is widely accepted and ATMs are readily available.