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INR → VND · VietnamEuro (EUR)
The Euro is the official currency of 21 European Union countries that
together form the Eurozone, following Bulgaria's adoption of the euro on
1 January 2026. For Indian travellers, this is the most useful single
currency on the continent. With one note, you can spend in Paris, Rome,
Berlin, Madrid, Amsterdam, Athens, and beyond. No currency exchange
between countries, no remembering which note belongs where.
Check the latest Euro to Indian Rupee exchange rate with zero markup.
Check Live Rate →Buy Euro
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About Euro (EUR)
The story, the role, and the reach of the euro — explained for Indian travellers, students and businesses.
The Euro is the official currency of 21 European Union countries that
together form the Eurozone, following Bulgaria's adoption of the euro on
1 January 2026. For Indian travellers, this is the most useful single
currency on the continent. With one note, you can spend in Paris, Rome,
Berlin, Madrid, Amsterdam, Athens, and beyond. No currency exchange
between countries, no remembering which note belongs where.
Europe has been one of the top travel destinations for Indians for
decades, and a typical Schengen visa lets you visit all the Eurozone
countries on a single application. From a forex perspective, the Euro is
the second most-traded currency in the world after the US Dollar, and
the second most-held reserve currency by central banks.
This page covers what the Euro is, where it came from, how it moves
against the rupee, and where to get it in India. For today's live rate
and to buy euros, jump to the rate page below.
A short history
From its origins to the modern euro you know today.
The Euro is one of the youngest major currencies in the world. It was
introduced on 1 January 1999 as an accounting currency for electronic
transactions, banking, and government use. Physical euro notes and coins
started circulating on 1 January 2002, when the legacy currencies of 12
countries (including the German mark, French franc, Italian lira,
Spanish peseta, and Dutch guilder) were withdrawn from circulation.
The Euro was the largest currency conversion in modern history. Twelve
countries' worth of cash, contracts, prices, and savings were converted
to a single new currency over a few weeks. The exchange rates were fixed
in advance: 1.95583 German marks to the euro, 6.55957 French francs to
the euro, and so on for each legacy currency.
Today, 21 EU countries use the euro, with more in line to join. Bulgaria
was the most recent country to adopt the currency on 1 January 2026.
Some EU members (Denmark, Sweden, Poland, the Czech Republic, Hungary,
and Romania) have kept their own currencies. The European Central Bank,
based in Frankfurt, sets monetary policy for all Eurozone countries from
one institution, which makes the Euro unique: one currency, 21
governments, one central bank.
For Indians, the Euro's value comes from its convenience. Before the
Euro, a tour of Western Europe meant exchanging currency four or five
times. Now, one currency works across most of the continent.
Denominations you'll use
The notes and coins in actual circulation — and which ones you'll see most.
Euro notes come in seven denominations, all the same width but different
heights and colours. Each note has a colour and a size that increases
with the value. You will recognise denominations even without reading
the numbers after a day or two in Europe.
Banknotes
- €5 (grey, smallest note)
- €10 (red)
- €20 (blue, most commonly used note)
- €50 (orange, most useful for daily spending)
- €100 (green, accepted everywhere but check beforehand)
- €200 (yellow-brown, less common, can be hard to use in small shops)
- €500 (purple, discontinued for new issuance since 2019 but still legal tender. Hard to use in practice. Many shops refuse it.)
Coins
Euro coins have a common European side and a national side that varies
by country. You may end up with German, Italian, French, or Spanish-side
coins in the same handful, all spendable anywhere in the Eurozone.
- 1¢, 2¢ (small copper coins, sometimes rounded off in cash transactions)
- 5¢, 10¢, 20¢, 50¢
- €1 (silver and gold ring)
- €2 (gold and silver ring, the most valuable coin you'll commonly use)
When buying euros from Matrix Forex, ask for a mix of €20 and €50 notes
for daily spending, plus a few €100 notes for hotels and larger
purchases. Avoid €200 and €500 notes for travel since they can be hard
to use.
How the EUR moves
The forces and policy decisions that shape its value against the rupee.
The Euro is the second most-traded currency in the world. The BIS 2025
Triennial Survey found the euro on one side of around 29 percent of all
foreign exchange transactions, down slightly from 31 percent in 2022.
The euro-dollar pair (EUR/USD) remains the most-traded currency pair in
global markets, accounting for 21.2 percent of all FX turnover.
Against the Indian Rupee, the Euro tends to move based on:
- European Central Bank policy. ECB interest rate decisions, quantitative easing, and signals from the ECB President move the euro within hours.
- Eurozone economic data. German manufacturing data, French and Italian growth figures, and Eurozone-wide inflation reports all affect the rate.
- Political events. Elections in France, Germany, and Italy, debt concerns, and EU policy decisions create periodic volatility.
- The dollar side. Because EUR/USD is so heavily traded, what happens to the dollar also moves the euro-rupee rate.
Euro volatility against the rupee tends to be moderate but has been
higher recently. The EUR/INR rate moved from around ₹88 at the start of
2025 to ₹107 by the end of 2025, a 19 percent annual change, before
settling in the ₹107 to ₹112 range through early 2026. For a Europe trip
planned two to three months out, watching the rate weekly is worthwhile.
Why Indians buy EUR
The everyday use-cases — travel, education, business — that bring Indians to this currency.
Euro demand from India breaks into four buyer types.
Leisure travellers
The largest category. Europe is one of the top three travel destinations
for Indians. A Schengen visa opens up over 20 countries on a single
application, and most Indian travellers combine multiple Eurozone
countries in one trip. Peak season is April to September, with secondary
peaks around Christmas and New Year. A typical 10 to 14 day Europe trip
needs €1,200 to €2,500 in spending money.
Students
Indian students at European universities are a growing segment. Germany
is the most popular destination because of low or no tuition fees and
strong engineering programmes. France, Netherlands, Ireland, and Italy
also draw substantial Indian student numbers. Living costs vary widely,
from €700 a month in smaller German cities to €1,500 a month in Paris or
Amsterdam.
Business travellers
India-EU trade is significant and growing. Business travel to Germany
(automotive, engineering), France (luxury, aerospace), and Italy
(manufacturing, fashion) is common. Most business travellers carry €700
to €1,200 in cash plus a forex card.
Family support and gifts
Indians with family members studying or working in the EU sometimes
remit money for fees, rent, medical needs, or gifts. Wire transfer is
the standard method.
Using EUR in Eurozone
Cards vs cash, ATM tips, common pitfalls — what to know before you travel.
Card acceptance across Europe is generally good, but it varies sharply
by country. Germany and Italy still lean cash-heavy, particularly for
smaller transactions. France, Netherlands, and Scandinavia are more
card-friendly. Cash matters more than first-time visitors expect.
Places that prefer cash
- Smaller restaurants, bakeries, and cafes (especially in Germany and Italy)
- Markets and street vendors
- Public toilets (often €0.50 to €1, in coins)
- Taxis in some cities (though Uber and ride apps work in most major cities)
- Tips at restaurants (5 to 10 percent, often left in cash even when paying by card)
- Some small museums and tourist attractions
Places where cards work well
- Hotels and major chain restaurants
- Department stores and chain retail
- Public transport in major cities (most accept contactless)
- Tourist attractions in major destinations
- Restaurants in city centres
ATMs
ATMs across the Eurozone accept foreign cards. Look for bank-owned ATMs
(Deutsche Bank, BNP Paribas, ING, UniCredit) rather than standalone
units like Euronet, which charge much higher fees. Most bank ATMs charge
€3 to €5 per withdrawal, plus your Indian bank's international
transaction fee.
Tipping culture
Tipping in Europe is more modest than in the US. Restaurants typically
expect 5 to 10 percent for good service, often by rounding up the bill.
Some countries (Germany, Netherlands) often build service into the
price, with tips being a small extra. In tourist-heavy areas like Italy
and Spain, a coperto (cover charge) is often added automatically. Cafés
and bars usually just get coins or a euro or two.
How to get EUR in India
Your options — branches, banks, online forex providers, and the airport route.
Three ways to take euros to Europe, used in combination by most
travellers.
Cash (euro notes)
Up to USD 3,000 equivalent in foreign currency notes per trip. At
current EUR/INR rates this works out to roughly €2,400 to €2,600. Matrix
Forex sells euros at the live interbank rate with same-day delivery
across 21 Indian cities. Ask for a mix of €20 and €50 notes.
Forex card
Load euros onto a forex card before travel and spend at the loaded rate.
The Matrix Forex Card supports 28 currencies including EUR, with no
markup on the live interbank rate.
Wire transfer
For tuition fees, family support, or hotel pre-payments, send euros
directly to a European bank account via SWIFT. Funds reach Europe within
24 hours.
What most travellers actually do
A 10-day Europe trip mix: €700 to €1,200 in cash, a forex card loaded
with another €1,000 to €2,000 for hotels and larger spending, plus a
backup credit card. Increase cash for trips to Germany or Italy where
cash use is higher. Decrease cash for Scandinavia where cards work
almost everywhere.
CTA: Go to Live Rate Page · Links to: /euro/rate/
Rules and limits
LRS, TCS, KYC and the FEMA rules every Indian needs to know.
USD 3,000 equivalent per trip in foreign currency notes. The rest goes on a forex card or via wire transfer.
USD 2,50,000 per financial year across all purposes.
TCS applies above ₹10 lakh per financial year. Education via Section 80E loan: 0 percent. Self-funded education and medical: 5 percent above ₹10 lakh. Travel, family support, gifts: 20 percent above ₹10 lakh. TCS is adjusted against your final income tax liability.
Schengen visa applications require proof of sufficient funds for your trip. Most embassies ask for bank statements, but having a forex card or order in your name strengthens the application. Plan to apply for your visa well before booking your forex order.
PAN, passport, Schengen or country-specific visa, and confirmed flight ticket.
Keep up to USD 2,000 equivalent in foreign currency notes after return. Matrix Forex buys back unused euros at the live interbank rate.
Frequently asked questions
of 21 European Union countries that form the Eurozone. Other European
countries use their own currencies: the UK uses the British Pound,
Switzerland uses the Swiss Franc, Sweden uses the Krona, Norway uses the
Krone, Denmark uses the Krone, Poland uses the Zloty, and several
others.
Belgium, Bulgaria, Croatia, Cyprus, Estonia, Finland, France, Germany,
Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta,
Netherlands, Portugal, Slovakia, Slovenia, and Spain. Bulgaria became
the most recent member on 1 January 2026. A few non-EU territories also
use the euro, including Monaco, San Marino, Vatican City, Andorra,
Montenegro, and Kosovo.
rate has risen sharply, from around ₹88 at the start of 2025 to ₹107 by
the end of 2025, and has been trading in the ₹107 to ₹112 range through
early 2026.
to €1,200 in cash plus another €1,000 to €2,000 on a forex card. Total
budgets vary widely: budget travellers can do Europe on €60 to €80 per
day; mid-range €100 to €150 per day; luxury well above that.
currency markup on your Indian credit card. A forex card avoids this
markup if loaded in advance.
works at smaller establishments, markets, public toilets, and tips.
Germany and Italy lean cash; France, Netherlands, and Scandinavia lean
card. Carry both.
interbank rate with same-day door delivery across 21 cities, or in
person at our nine branches.
poor rates and high commissions. Buying in India from an authorised
dealer at the interbank rate, with same-day delivery, is usually 3 to 5
percent better.
