What currency does Germany use?
Are you a traveler? Have you even been to European countries? These are fast becoming a popular destination for traveling. If you want to have a remarkable trip, you need to be aware of the money used in a particular country. Today, we will be talking about Germany and its currency.
Germany is known for its direct involvement in the process of creation and implementation of the new mutual European currency. Our overview will help you to learn a little history of the country’s money, some interesting facts and how to navigate money matters in this country.
Currency used in Germany
From 1948 to 1999, the German’s official currency was called the German Mark. It is also known as Deutsche Mark. In 1999 it was replaced with the European Union’s mutual currency - Euro. At the beginning it was only used for cashless transfers by banks and stock markets.
Deutsche Mark banknotes and coins circulated in Germany till 2002 when Euro began to be used for cash payments officially. From then on, Deutsche Marks were freely exchanged for Euros. Deutsche Marks can still be exchanged for Euros today.
Euro Era
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Germany was the first among 19 European countries to convert to Euro. The country has been using only Euros since 2002. Germans themselves pronounce Euro as “Oy-row” because of their native language peculiarities.
The symbol of Euro is € and which has now become the German currency symbol as well. Heres an interesting fact: this symbol was created by a German named Arthur Eisenmenger! So, in a way, Germany was the originator of the Euro!
These are the available Euro banknotes today: €5, €10, €20, €50, €200 and €500. Actually, the €1 and €2 are not actual banknotes but coins! Each Euro is divided into eurocents which are coins. Germany uses the following coins: 1c, 2c, 5c, 10c, 20c and 50c.
German currency symbol
As for the coins design, on one side, there is a unified picture of the European map. This side also reveals the value of the count. Each country has its own unique eurocent coins design on the other side.
Euro banknote designs are unified for all countries and portray different famous architectural objects in Europe. There are different pictures on different banknotes. However, you will notice one unified image which every Euro banknote has regardless of its denomination. It is the stars circle in the upper left corner of the banknote, a symbol of the European Union whose member is Germany, of course.
Facts about German money
In Germany, “cash is king” is more than just a saying. It is the way of life of the Germans. ATMs are the fastest and easiest ways to get cash.
These ATMs can be found in various spots across the country such as airports, train and bus stations, in large shopping centers, near banks and on the streets. They are available for users 24/7. ATMs in Germany are called Geldautomat, which can be literally translated to money machine.
To get money from the ATM, you need a bank card that can be used abroad. A traveler can also get German cash from the currency exchange offices. Just be sure you can exchange your country’s currency in Germany. It might be preferable to make such an exchange in your native country in advance so as not to find yourself stranded.
Traveler’s checks can be used to get cash as well. You can use credit or debit cards to make payments via bank transfers. Credit cards are widely accepted but check if yours holds Mastercard, Visa, Eurocard logo. Otherwise, they cannot be used in Germany.
A lot of banks have branches in Germany, so you might want to find out which banks in your country have offices in Germany.
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Source: Legit.ng
