As of January 1st, 2002, the new Spanish currency, as in most European Union countries, is the Euro. The currency will have notes and eight coins. The notes will have face value of 5, 10, 20, 50, 100, 200 or 500 euros. The Euro is divided into 100 cents and the coins will range in value from 1, 2, 5, 10, 20 and 50 cents and 1, 2 euros. Tourists may bring up to 6,010.12 euros (approximetly $10,000 Canadian dollars) without declaring the amount at customs. The current rate of exchange varies from week to week. For an updated exchange rate, check with newspapers or banks. |
Traveller’s cheques are most practical and Canadian currency can be exchanged at banks, airports, main hotels, etc. In order to get the most for your money, we advise you to buy some euros before leaving (for first day expenses) and exchange the rest of your dollars or travellers cheques at the bank once in Spain (although banking hours might be subject to change, presently they are: Monday to Friday from 9 a.m. to 2 p.m. and Saturdays from 9 a.m. to 1 p.m.) Major credit cards are honored in most hotels and restaurants, main stores, rent-a-car companies and others, although this should be checked before each transaction. The convenient Interact System can also be used throughout Spain, providing one of the easiest and cheapest ways of obtaining cash abroad; consult with your bank about your particular card and fees. |
