France Currency Basics for Tourists and Travelers

As a tourist in France, you'll need to familiarize yourself with the local currency, the Euro. The Euro is the official currency of France, divided into 100 centimes.

You can exchange your money for Euros at a bank, currency exchange office, or a hotel. However, be aware that exchange rates can vary greatly depending on the location and provider.

The Euro is available in various denominations, including €5, €10, €20, €50, and €100 bills, as well as €0.01, €0.02, €0.05, €0.10, €0.20, €0.50, and €1 coins.

The official currency of France is the euro, denoted by the symbol €.

France was one of the first European countries to adopt the euro as its official currency.

It started circulating as legal tender in France on January 1, 2002, alongside 11 other countries that made the switch on the same date.

The euro is the official currency of France, and it's used in many other European countries as well. Euro banknotes come in seven denominations: €5, €10, €20, €50, €100, €200, and €500.

Each denomination has a unique size, color, and design. The largest euro bank note is the €500 bill, which is 160mm x 82mm in size and features modern architecture. The smallest bank note is the €5 note, which is 120mm x 62mm in size and portrays Classical architecture.

Here's a breakdown of the euro banknote denominations:

In addition to banknotes, the euro also comes in coin denominations, which range from 1 cent to €2.

The euro banknotes come in seven denominations: €5, €10, €20, €50, €100, €200, and €500. The larger bills, especially the €500, are being phased out due to concerns about criminal use.

The €500 bill is the largest, measuring 160mm x 82mm, and features modern architecture. It's still possible to find older notes, but as of April 2019, they're no longer being issued.

The €200 bill is yellow and measures 153mm x 82mm, featuring Art Nouveau architecture. I've seen these notes in circulation, and they're quite striking.

Here's a breakdown of the euro banknote sizes:

The smaller bills, like the €5, €10, and €20, are easier to spend while traveling. The €50 and below denominations are a good rule of thumb for carrying while abroad.

The euro coins come in a variety of sizes, metals, and edge patterns. Some edges are completely smooth, some are evenly ridged, some are notched, and some alternate smooth and ridged sections.

The smallest euro coin denomination is 1 cent, which is equal to 1/100 of €1. The euro coins come in 8 denominations: 1 cent, 2 cent, 5 cent, 10 cent, 20 cent, 50 cent, €1, and €2.

Each country gets to choose its own design for the back of its coinage, which is a nice touch.

The different edge patterns on euro coins help the visually impaired to easily identify the various coins.

The French Franc was first introduced around 1360, denoting coins worth 1 livre tournois. This marked the beginning of a long history for the franc.

The Franc's value fluctuated over the years, especially during times of economic and political turmoil. During the reign of King Louis IX in 1266, the silver Gros tournois was issued.

The Franc was initially linked to the Livre Tournois, a unit from the Carolingian monetary system established in the 8th century. This system involved a Livre (pound) of silver, subdivided into 20 Sols or Sous (shillings) and further into 12 Deniers (pennies).

The Franc was subdivided into smaller units, including the Sou and Denier. The Denier was the only actual coin for a long time, with the sou and livre mostly serving as accounting units.

The French Revolution brought significant changes to the Franc, introducing the decimal "franc" in 1795 as a unit of 4.5 grams of fine silver. This marked a major step towards decimalization.

The Franc was reformed during the Napoleonic era, introducing the Franc germinal in 1803, a gold franc containing 290.034 mg of fine gold.

France uses the euro as its official currency, which is also the common currency of the European Union. The euro is used in the eurozone, a group of countries that have met the economic stability criteria.

The countries that use the euro are part of the eurozone, which currently includes 19 countries. Here is a list of some of the countries that use the euro:

Some countries in the European Union use their own national currencies, even though they are part of the EU. If you're planning to visit one of these countries, you'll need to exchange your money for the local currency.

The European Union has a unique currency system, and it's not as straightforward as it seems. The euro is the common currency of the European Union, but not all countries use it.

There are currently 19 countries in the eurozone, which means they use the euro as their official currency. These countries include Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.

Countries that are part of the European Union but not the eurozone, on the other hand, still use their own national currencies. These countries include Bulgaria, Czechia, Hungary, Poland, Romania, and Sweden.

Here's a list of countries that use the euro as their official currency:

And here's a list of countries that are part of the European Union but still use their own national currencies:

In France, the adoption of the Euro has made traveling and doing business easier across much of Europe.

People no longer need to exchange currencies when moving between most EU countries, thanks to the European Central Bank's monetary policy.

Cash is still widely used for smaller transactions, especially in rural areas and among older populations.

France has seen a significant increase in the use of credit and debit cards, mobile payments, and online banking services, especially in urban areas.

The exchange rate between your home currency and the Euro is a crucial thing to know before traveling to France. It's easy to see a price and associate it to your home currency without doing the proper math, which can be a costly mistake.

To avoid this, check the current exchange rate for your home currency to the Euro prior to your travels. You can use a currency converter to get the current exchange rate between any two currencies.

The exchange rate can fluctuate over time due to various economic, political, and market factors, so it's essential to check the current rate before exchanging currency. A higher exchange rate means the value of one currency has increased compared to another, while a lower exchange rate means the opposite.

You can exchange currency at various locations, such as banks, specialized currency exchange offices, or even online platforms. However, be sure to use reputable services for secure transactions, as exchange rates and fees can vary.

If you prefer to exchange cash, you can do so at a bank or exchange bureau, but be aware that banks generally offer better exchange rates than exchange bureaus, but they may charge a fee. Some businesses may not accept large Euro notes, and prices are often rounded to the nearest five cents due to the absence of one or two cent coins.

It's also a good idea to have some cash for small purchases or places that don't take cards, as credit cards are widely accepted but may have withdrawal fees.

France's currency has undergone significant changes throughout its history, with its economic and political transformations playing a major role. The country initially used livres, sous, and deniers, a system rooted in medieval times.

The French Revolution in 1795 led to the introduction of the franc, which was divided into 100 centimes. This new currency was introduced to simplify and stabilize the economy. The franc saw many changes, especially during major events like the World Wars.

In 1960, the new franc was introduced to counter inflation, worth 100 old francs. This change was a significant step towards modernizing the French currency. France eventually joined other European Union countries in adopting the euro in 2002, marking a major shift from a national to a shared European currency.

France's currency history is a reflection of its economic and political changes.

The country initially used livres, sous, and deniers, a system rooted in medieval times.

After the French Revolution in 1795, France switched to the franc to simplify and stabilize the economy.

The franc, divided into 100 centimes, saw many changes, especially during major events like the World Wars.

In 1960, the new franc was introduced to counter inflation, worth 100 old francs.

France joined other European Union countries in adopting the euro in 2002, marking a major shift from a national to a shared European currency.

From 1803 until 1914, France kept a stable monetary system based on convertibility into gold and silver.

This system led to the Latin Monetary Union in 1865, with France, Belgium, Italy, Switzerland, Luxembourg, and Greece.

France enjoyed a monopoly of issue of banknotes after 1848, with notes convertible in gold or silver.

The coverage ratio by metallic gold was very high: in 1914, the notes' circulation represented close to 6 billion francs, equal to 1,710 tons of gold.

The Bank of France kept 1,200 tons of gold in its coffers.

Gold convertibility was suspended during the First World War (1914-1918), leading to significant inflation.

By 1918, France had lost over 2 million men to casualties or injuries and close to half of its industrial infrastructure had been destroyed.

The franc lost about 80% of its value against the dollar.

In 1928, Prime Minister Raymond Poincaré linked the franc to gold again at 0.0655 g of 90% pure gold.

This did not last for long: the combination of depression in the 1930s and the build-up of the Second World War (1939-1945) led to renewed devaluations from 1936 onward.

Inflation resumed and reached 26% in 1937, to remain above 20% per annum throughout the Second World War.

In the period immediately after the Second World War, paper money was issued without limitation in an effort to help fund reconstruction.

As a result, inflation went as high as 58.7% in 1948.

The French central bank forecasts an economic recovery by 2025, with decreasing inflation and increasing consumer purchasing power.

Inflation is expected to decrease from 5.7% to below 2% by early 2025, which should lead to wage increases outpacing inflation, enhancing purchasing power.

Monetary Reform is a crucial aspect of shaping the economy and people's lives. In the 1930s, President Franklin D. Roosevelt introduced the Gold Reserve Act, which allowed the government to regulate the money supply and stabilize the economy.

The gold standard, which tied the value of the US dollar to gold, was abandoned in 1971, allowing for more flexible monetary policies. This shift led to the creation of fiat currency, where the value of money is determined by supply and demand rather than its gold content.

A key aspect of monetary reform is the concept of quantitative easing, where central banks create new money to inject into the economy during times of economic stress. This was seen in the 2008 financial crisis, when the Federal Reserve implemented quantitative easing to stimulate economic growth.

The benefits of monetary reform can be seen in the reduction of unemployment and inflation. For example, in the 1930s, the US unemployment rate was as high as 25%, but after the implementation of the New Deal programs, it decreased significantly.

The history of monetary reform is a story of trial and error, with policymakers learning from past mistakes and adapting to new economic realities. The 1971 abandonment of the gold standard was a major turning point in this process.

The growth of the money supply has a fascinating history. Before the creation of money, pieces of metal like gold, silver, bronze, and iron were used as a medium of exchange.

Only new discoveries of metal could increase the monetary supply. This limited the growth of the economy.

Standardized money was created, and with it, the ability to manipulate weights and alloys to debase the currency. This allowed states to mint more coins with the same quantity of precious metals.

Later, states like the Roman Empire converted existing coins into current prices using units of account, giving them the power to debase, alter, or devalue their currencies. This enabled them to fund deficits in times of war and crisis.

The emergence of a banking system led to the creation of fiduciary money, which could be created through credit without debasements or devaluations. This marked a significant shift in the growth of the money supply.

The public's acceptance of paper money allowed modern European states to run unprecedentedly high deficits, which could be covered by flooding the market with paper money. This led to economic debt and inflation crises.

The gold standard, which had been reintroduced in the 19th century, collapsed during World War I. It reappeared in a weaker form in 1944 as the gold-dollar standard.

The final decoupling of money and gold in 1971 led to credit creating new money under the supervision of central banks. This marked a significant shift in the control of the money supply.

Since 2008, some central banks have injected liquidity into the money supply by purchasing private and public debt. This allowed them to avoid an economic depression and inflate monetary aggregates.

Traveling to France can be a bit tricky when it comes to money, but with the right knowledge, you'll be all set. Credit cards from VISA and Mastercard are widely accepted, especially in touristy areas, but using a prepaid travel card is often the best option due to lower fees on euro currency exchange.

You can use a credit or debit card to withdraw cash from an ATM, but be aware that your bank might charge fees in addition to the fees levied by the ATM. It's also a good idea to notify your bank that you'll be traveling to reduce the chances of your transactions getting flagged or denied.

To get the best exchange rate, consider using a prepaid travel card like Revolut, which offers excellent exchange rates and multi-currency balances. Alternatively, you can use a currency converter to check the current exchange rate between your home currency and the euro.

Here are some popular options for getting euros for your trip to France:

As you prepare for your trip to France, it's essential to understand the local currency and how to navigate the exchange rates. The euro (EUR) is the main currency in France, and unfortunately, USD is generally not accepted.

You can exchange your USD for euros at currency exchange bureaus, banks, or ATMs, but be aware that some businesses may not accept large Euro notes. Credit cards are widely accepted, but having some cash for small purchases or places that don’t take cards is a good idea.

To get the best exchange rate, it's recommended to use an ATM or debit card to withdraw euros from a French bank. This method usually provides the best exchange rate and saves you from carrying large amounts of cash. If you prefer to exchange cash, you can do so at a bank or exchange bureau, but be sure to compare rates and fees before making a transaction.

Here are some options to consider:

It's also essential to understand the exchange rate and any associated fees before exchanging currency. Exchange rates can change daily, so check the current rate before exchanging. Some banks and exchange bureaus may charge commissions or fees, so inquire about these beforehand.

To make your trip to France smoother and more enjoyable, be sure to:

As you return to France after a trip, you'll need to exchange your money back into the Euro. The Euro is the official currency of France and is divided into 100 cents.

Coins come in handy denominations, including 1, 2, 5, 10, 20, and 50 cents, and 1 and 2 Euros. Banknotes are available in various denominations, with the most common being 5, 10, 20, 50, 100, 200, and 500 Euros.

You can exchange your foreign currency for Euros at a bank, currency exchange office, or some hotels. The 500 Euro note is no longer being issued since 2019, but it remains legal tender and can still be used.

Living in France can be pricey, especially in cities like Paris. The estimated monthly cost for a single person is €952.4 without rent, according to Numbeo.

However, smaller towns and cities tend to have a lower cost of living. For example, a family of four can expect to spend an estimated monthly cost of €3,406.1 without rent in these areas.

Housing costs can vary greatly depending on the location. In Toulon, the median purchase price for a pre-existing home is €468,000, while in the Marseille/Aix-en-Provence area it’s €400,000.

Looking for housing 30-40 minutes away from the seacoast can produce a significant decrease in price. This is a good option to consider if you're on a budget.

France uses the Euro (€) as its currency, and credit cards are widely accepted in most places. However, it’s always a good idea to carry some cash on hand, especially when visiting smaller towns and markets.

ATMs are also widely available throughout the country, making it easy to access your money when you need it.