Convert 1 AUD to EUR

The lowdown on the euro

It’s hard to believe that the euro’s only been around since 2002 – these days it’s one of the world’s most used currencies, along with the US dollar. In fact, there are more coins and banknotes around in euros than there are in any other type of cash.

You’ll need euros if you’re off to Germany, France, Spain, Italy, Greece, Portugal, the Netherlands, Austria, Belgium, Ireland, Cyprus, Finland, Malta, Luxembourg, Slovakia, Slovenia, Estonia, Latvia or Lithuania. They’re the official euro countries, but Andorra, Montenegro, Kosovo and the French Caribbean islands of St. Barts and St. Martin use it too.

It’s because of the euro that we no longer have currencies like French francs, Italian lira or Spanish pesetas. 19 of the countries in the European Union use it, so you won’t have to change money if you travel from one to another – that makes things a lot easier if you’re planning your own European adventure.

Ever wondered where the symbol for the euro (€) came from? As well as looking a lot like the first letter of Europe, it hints at the Greek letter epsilon (Є), a nod to Greece being ‘the cradle of European civilization’. The parallel lines are there to represent stability.

A look back at Australian dollar to euro rates

When the euro made its debut in January of 1999, it exchanged at a rate of 1 euro to 1.89 Australian dollars, or 0.52 euros to 1 Australian dollar.

Since late 2008, the euro has been caught up in the European sovereign-debt crisis, leading to a drop in its value against the Aussie dollar, rising from 0.48 euros to one Aussie dollar in October all the way to 0.85 by the end of 2012.The European Financial Stability Facility was created, aimed at stabilising the currency and after this, the rate began to improve.

The recent euro

Over the last few years, the euro rate has improved, averaging at a rate of 0.72 euros to the Australian dollar from 2012 until the end of 2015. If you’re heading to Europe for your next trip, the euro remains a great currency to pick up.

^{*The information contained in this article has been compiled by Travelex from different external sources.  The figures provided are indicative only and are there to provide an idea of the amount of travel money you may need during your trip. Travelex does not ensure the accuracy and completeness of the information shown. Nothing in this article is to be considered financial advice. Travelex Limited does not accept any liability for any loss or damage derived from any reliance on the information in this article. Travelex Limited (ABN 36 004 179 953, AFSL Number 222444) arranges for and sells Online Foreign Currency via its Online Ordering Facility. You should consider the Terms and Conditions before deciding whether to acquire any product.}