Money system Spain

Spain being the most affordable country in Europe is one of the reasons for being an attraction for tourists.

However it is expensive for budget travelers as everything in expensive including food and lodging. The introduction of Euro is the reason behind the inflation in the prices in Spain. The conversion has made some prices rounded up to the nearest Euro equivalent. But in general Spain is slightly cheaper then the other part of Europe specially the continental Europe and almost half the price as compared to northern Europe.

The transportation in Spain is quite affordable as the city is covered with a wide range of bus and rail network. The transportation is cheap as compared to the rest of the Europe, But expensive compared to Morocco. However the transportation is well maintained and one can get the best services. So if your budget is around €20.00 a day then it would involve staying at the cheapest accommodation, avoiding restaurants and bars and not moving around too much. If it is €40.00 a day, you can get a basic hotel room, a set of meals, public transport and entry to museums. However, if your budget is €120.00 a day, you can stay in excellent accommodation, rent a car and eat some of the best food Spain.

The city has a large number of ATMs (cajeros automáticos) all over, even in small towns. One should be careful while carrying hard cash as tourists are the main target of theft. Credit and debit cards are widely accepted at all the hotels and restaurants. Traveler’s cheques can also be used and can be cashed at bank and exchange offices. Credit and debit card owners must be careful in the city as many cases of credit card missing were found. Although it is possible to exchange traveler’s cheques at bank or big hotel, it is more recommendable to carry your ATM or Credit card as they are widely accepted even at small places. These cards are accepted in hotels, restaurants and bars. In fact, all major credit cards are accepted by many businesses. MasterCard, American Express, Diners Club and Visa are widely accepted, as well as Eurocheque cards.

Euro is the single currency in Spain. It was on January 1st 2002 when Euro replaced Peseta which was the official currency of Spain for 130 years. Money can be exchanged at "bureaux of change" and major hotels, however banks give the best rates. In fact, the best rates for Euros currency and travelers' cheques are obtained at banks. One Euro is equal to 100 cents. There are coins of 1, 2, 5, 10, 20, 50 cents and 1, 2 Euro. It's a good idea to keep a supply of various coins for parking meters, tolls etc. Note denominations are 5, 10, 20, 50, 100, 200 and 500. It is very important to keep in mind that it's often difficult to get change for a €500.00

One can also carry visa travel money, changing money, wiring money or can use the youth and student discounts. Do keep in mind that the International Student Identity Card (ISIC) is the only internationally accepted student ID card which can provide you the privilege of the youth and student discounts. Dont forget to that!!