Do you know the difference?
When we thought about living in Portugal, the first thing we did was research the Euro rate. And the second was, do I buy tourism? Commercial Euro? This doubt is believed to be the same even for those who want to travel for tourism.
So let's try to understand a little bit the difference between them.
Euro Tourism is used in negotiations between banks and individuals, it is the currency we buy before traveling abroad.
The Euro Commercial, on the other hand, is used by governments and companies in international negotiations related to the export and import of products and services.
And in the case of those who return from a trip and have foreign currency to exchange for reais, this is characterized as a purchase operation through the exchange office.
In short, if you need to buy foreign currency for an international trip you will use the euro tourism sales quote. If you need to sell foreign currency, the euro tourism purchase quotation will be used.
Interesting facts about the Euro
The Euro has coins, with 100 cents to make one Euro. One side is standard, showing the value of the coin, while the other can be customized by each issuing nation to represent their culture. Country: European Union
Symbol: €
ISO code: EUR
Bank: European Central Bank
Did you know that currently the Euro is now the officially recognized currency of the 17 Eurozone nations.?! Yes that's right! These nations include:
Austria
Belgium
Cyprus
Estonia
Finland
France
Germany
Greece
Ireland
Italy
Luxembourg
Malta
Netherlands
Portugal
Slovenia
Slovakia
Spain
Other countries that recognize and use the euro include:
Andorra
Kosovo
Montenegro
Zimbabwe
In February 2012, it was found that there are 890 billion euros in circulation, which makes the euro the largest currency in circulation in the world, surpassing the US dollar.
The Euro was established as the second reserve currency of the global economy.
As of June 2012, the euro was worth approximately US$1.24. This is the lowest the euro has ever seen and is due to financial problems in Greece and Spain.
It is estimated that around 330 million Europeans use the euro every day.
The euro is used by approximately 180 million people in other parts of the world, which includes around 150 million users on the African continent. The European Central Bank is headquartered in Frankfurt, Germany.
On January 2, 2002, the European Central Bank announced that it would partner with the national central banks of the eurozone countries to distribute and administer the euro monetary system.
Each country has its own pictures on the back of the euro coins. The front of the coin features the common image of the Euro, and there are a number of coins that feature significant images for each of the Eurozone countries.
Euro denominations include one Euro, two Euros, five Euros, 10 Euros, 20 Euros, 50 Euros, 100 Euros, 200 Euros and 500 Euros.
The Euro currency converter on the international market makes it one of the strongest currencies in the world.
The eurozone is recognized as the second largest economy in the world.
Research source: Wise, Online Shipping and Currency.
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