Euro is the National Currency of Germany and 20 EU Countries

The euro (€) is officially the national currency of Germany and 19 other European Union nations. It creates a unified financial system across borders. This unique system offers convenience to all who study, travel, or do business in Europe. Germany is one of the founding members of EU European Union. Euro was launched electronically in the year 1999, and Euro banknotes and coins were introduced and launched on 1 January 2002. Germany is also one of the first country to adopt euro as its national currency on 1 January 1999.

Why the Euro Currency matters for International Students and Travellers moving to Europe

The euro simplifies travel and finance within most EU countries. For Indian students and Tourists this means no currency exchange fees when moving between Germany, France or Spain. It also supports budgeting while travelling in the Eurozone.

Understanding the Euro and Eurozone

What is the Euro?

The euro is the official currency of the Eurozone. Eurozone is a group of EU nations that share a single currency that is Euro.
Read more about history of Euro: https://european-union.europa.eu/institutions-law-budget/euro_en

Which Countries Use It?

Currently total 20 Countries / EU member states use Euro. The Euro (€) is the official currency of 20 out of 27 EU member countries which together formed the Eurozone. Eurozone is officially called the Euro area.
Official list: https://european-union.europa.eu/institutions-law-budget/euro/countries-using-euro_en

Below is the list of 20 EU member states that use the euro:

Austria
Belgium
Croatia
Cyprus
Estonia
Finland
France
Germany
Greece
Ireland
Italy
Latvia
Lithuania
Luxembourg
Malta
Netherlands
Portugal
Slovakia
Slovenia
Spain

Who Doesn’t Use It (Yet)?

Denmark has permanent exemption from adopting the euro. Countries like Sweden, Poland, Hungary, Romania, Czechia and Bulgaria are obligated to adopt it once they meet EU criteria.

Euro Outside the EU

Countries such as Andorra, Monaco, San Marino and Vatican City have formal agreements to use the euro. While Montenegro and Kosovo use it without formal agreements.

History and Adoption of the Euro

Birth of the Euro

The Euro was launched electronically in 1999. While Paper notes and coins were launched on January 1, 2002.

Waves of Adoption by Eurozone countries

These countries are among the first to use Euro in 1999:

Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain.

Greece joined in 2001 ahead of the physical launch of Euro currency.
These countries followed over the years:

Slovenia (2007), Cyprus & Malta (2008), Slovakia (2009), Estonia (2011), Latvia (2014), Lithuania (2015) and Croatia (2023).

Upcoming Additions

Bulgaria has scheduled to adopt the euro currency as its official currency from next year on January 1, 2026.

Benefits of the Euro

Main benefit of Euro is that it eliminates exchange rate risks within participating countries.
It boosts trade and tourism with easier payments and lower costs in Eurozone.
It encourages economic integration under a unified monetary policy via the European Central Bank.
Euro is second most widely held global reserve currency.
Enhances price transparency and competition across the eurozone.

Things to Watch

Limitations for Some Countries

Some of the EU members and non-EU nations still use their own currencies.
Students planning to stay in countries like Sweden or Poland must manage separate currencies.
Euro adoption is tied to meeting fiscal discipline criteria.

Exchange Rate Fluctuations

The exchange rate of Euro-USD varies daily. Currently its around €1 = $1.18
While currently 1 Euro equals 100.74 Indian Rupee
For Indian students and tourists this affects Travel and living costs when converting from INR to Euro.

Tips for Indian Students and Tourists

Budgeting

Open a multicurrency account in Euro for convenient transfers and minimal fees. Exchange INR to EUR in advance when rates are favorable.

Travel Smart

If traveling across eurozone countries there is no need for currency exchange. Only convert once for countries outside the euro.

Exchange Some Money Before You Travel

Exchange a small amount before your trip, at a local bank or a trusted currency exchange service. That way, you’re not scrambling for cash as soon as you arrive in Europe.

University Fees

Tuition in Germany and other euro-zone countries is paid in euros. Understanding the euro ensures proper budgeting and avoids conversion surprises.

Daily Living Expenses

From groceries to local travel, spending is always in euros. Tools like currency exchange apps assist with daily tracking and converting INR to EUR.

Internships and Jobs

Internships in countries in the Eurozone are paid in Euro while outside the Eurozone will be paid in local currency—plan for this currency transition.

Have a Combination of Payments while Travelling

Europe is diverse and payment choices differ by country. In some country Credit and debit cards are widely used but then there are some locations—particularly small cafes, shops, or rural villages—who still accept cash. To be prepared while travelling use a combination of ways to pay.

Scoutabroad helps students and tourists set up foreign accounts, understand finances, and prepare accurate cost breakdowns for travel and stay.
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Mistakes to Avoid

Not comparing conversion fees.
Not understanding local banking norms.
Forgetting budget impact from EUR to INR shifts.
Ignoring exchange rate risks when traveling.

Conclusion

The euro acts as the backbone of financial life across Germany and 19 other EU countries. For Indian students and tourists travelling to Europe it reduces currency exchange hassles and supports budgeting. With proper planning you can travel to Europe without worrying. Compare exchange rates of INR to Euro before planning trip to Europe. And when in Europe use different transaction modes like credit, debit, cash for smaller transactions in certain regions. It is recommended to have an additional backup payment method like a second credit card, debit card or a prepaid travel card is recommended. Understanding the euro and its implications is crucial while planning tuition fees, travel costs or living expenses. Using smart tools / App and expert support from Scoutabroad can make life in Europe smoother and more budget friendly.

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