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Money
Single European currency (Euro): The Euro is now the official currency of 12 EU member states (including Luxembourg). The first Euro coins and notes were introduced in January 2002; the Luxembourg Franc was completely replaced by the Euro on 28 February 2002. Euro (€) = 100 cents. Notes are in denominations of €500, 200, 100, 50, 20, 10 and 5. Coins are in denominations of €2 and 1, and 50, 20, 10, 5, 2 and 1 cents.
Currency exchange: Foreign currencies, travellers cheques and cheques can be exchanged at banks, bureaux de change, the airport, railway stations, the post office and major hotels (generally at a less advantageous rate).
Credit & debit cards: MasterCard, American Express, Visa, Diners Club and others are all widely accepted, as well as Eurocheque cards. Many retailers require a minimum (eg €12-25) before accepting credit/debit cards. Check with your credit or debit card company for details of merchant acceptability and other services which may be available.
Travellers cheques: Widely accepted. To avoid additional exchange rate charges, travellers are advised to take travellers cheques in Euros, Pounds Sterling or US Dollars.
Currency restrictions: There are no restrictions on the import and export of either local or foreign currency.
Exchange rate indicators
The following figures are included as a guide to the movements of the Euro against Sterling and the US Dollar:
| Date | May ’02 | Aug ’02 | Nov ’02 | Feb ’03 | | €1= | £0.63 | £0.64 | £0.63 | £0.68 | | €1= | $0.92 | $0.97 | $1.00 | $1.08 |
Banking hours: Generally Mon-Fri 0900-1200 and 1330-1630, but may vary greatly.
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Terms and Conditions apply.
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