When visiting the Netherlands, people will have a chance to explore the mesmerizing canals in Amsterdam, browse the iconic cheese markets, photograph the beautiful windmills, and stroll through marvelous tulip fields. They will also enjoy visiting the valuable artworks of the Old Dutch Masters. This is not to forget about the famous historical museums, such as the Rijksmuseum, Anne Frank House, Van Gogh Museum, and more. Visitors to this European country will also appreciate the natural beauty of the parks in Amsterdam and other cities. Outdoor enthusiasts, for example, will have fun heading to the stunning and diverse De Hoge Veluwe National Park. While there is much to do and see in the country, it’s also essential for visitors to get the most out of their budget by learning how to best pay for attractions in the Netherlands. To do that, they should understand the currency and how the system works there.
This Is The Currency That Is Used In The Netherlands
Since 2002, the Netherlands adopted the Euro as its official currency, fully transitioning from the Dutch guilder or gulden. However, holders of the old currency in banknotes can still exchange it until 2032 at De Nederlandsche Bank. However, people can’t exchange Guilder coins anymore.
- Information: EUR is the currency code of the Euro on the foreign exchange market, while the symbol of the currency is €.
Although the Euro is used throughout the eurozone as the principal means of payment in several countries, each is responsible for designing its own banknotes and coins. On one side of the coins, people will find the map of the European Union along with the numerical value of the coin. This is the standard side shared by all the eurozone countries. The other side of the coin features the domestic design related to the country issuing the currency. For example, in the Netherlands, Euro coins issued between 1999 and 2013 have the photo of Dutch Queen Beatrix printed on their national side. King Willem Alexander’s photo appeared on the coins after 2013 following Queen Beatrix’s abdication of her throne.
Even though each country designs a national side on the Euro currency, these coins and banknotes can still be accepted all over the eurozone as means of payment.
Euro banknotes are available in denominations of €5, €10, €20, €50, €100, €200, and €500. However, many businesses in the Netherlands refuse to accept larger euro banknotes. Some even hesitate to accept the €50. They generally prefer to take coins and smaller banknotes. Thus, visitors to the Netherlands are advised to carry more of these amounts and denominations.
Here’s What To Know About USD In The Netherlands
People visiting the Netherlands should not expect to use their US dollars in the country since the official currency there is the Euro. This is why they should be exchanging their dollars for euros. People are advised to do so by seeking out the best conversion rate. To ensure that, they should be doing this step ahead of time.
If people don’t exchange their USD into EUR in the States, they can do so at the ATMs in the Netherlands, where their money will be exchanged at the conversion rate set by the cardholder’s bank. While some banks in the US don’t charge conversion fees for international withdrawals, some banks still do that. Thus, it is wise to check with the bank before proceeding with this step. Another thing to note is that most Dutch banks don’t charge ATM fees. However, US banks may deduct several dollars per transaction.
People are not advised to exchange their USDs at currency exchange services because their rates are usually less favorable than ATMs.
- Recommended: At Damrak 95 near Dam Square, people can head to Pott Change to exchange their dollars for euros. This is known to offer the best exchange rates in Amsterdam. People are not advised to use the services of currency exchange offices located at the airport, railway stations, or other strategic locations in the Netherlands because they are known to charge unfavorable rates on their exchange services.
The USD Vs. Euro Exchange Rate Fluctuations
The Euro value changes by the day against the USD. This figure is influenced by various regional and global political and economic events, as well as the supply and demand of the currency. This is why people must consistently check online foreign currency converters to follow up on rate fluctuations whenever they’re planning a trip to the Netherlands. This will allow them to lock in the best opportunity and benefit from the exchange rate when the value of the EUR drops against the USD.
- Information: People who intend to use their debit and credit cards for their payments in the Netherlands have to check with their bank the fees charged on international transactions, currency conversions, and ATM withdrawals to find the most cost-effective payment option for them.