World Country Guide

Money

Single European currency (Euro)
The Euro is now the official currency of 12 EU member states (including Greece). The first Euro coins and notes were introduced in January 2002; the Greek Drachma was in circulation until February 28 2002, when it was completely replaced by the Euro. Euro () = 100 cents. Notes are in denominations of 500, 200, 100, 50, 20, 10 and 5. Coins are in denominations of 2, 1 and 50, 20, 10, 5, 2 and 1 cents.

Currency exchange
Foreign currency can be exchanged at all banks, savings banks and bureaux de change. Exchange rates can fluctuate from one bank to another. Many UK banks offer differing exchange rates depending on the denominations of currency being bought or sold. Check with banks for details and current rates.

Credit & debit cards
American Express, Diners Club, MasterCard, Visa and other major credit cards are widely accepted (although less so in petrol stations), as well as Eurocheque cards. Check with your credit or debit card company for details of merchant acceptability and other services which may be available.

Travellers cheques
All major currencies are widely accepted and can be exchanged easily at banks. Generally, banks in Greece charge a commission of 2 per cent with a minimum of 0.15 and a maximum of 13.21 on the encashment of travellers cheques. To avoid additional exchange rate charges, travellers are advised to take travellers cheques in Euros, Pounds Sterling or US Dollars.

Currency restrictions
The import of local and foreign currency is not restricted provided any amount exceeding 10,000 is declared on arrival. The export of local and foreign currency is allowed although amounts over 2000 require an Import Currency Declaration Form issued on arrival, and amounts over 10,000 require a Certificate of Tax Clearance or Currency Declaration Form (on import).

Exchange rate indicators
The following figures are included as a guide to the movements of the Euro against Sterling and the US Dollar:

Date	May '04	Aug '04	Nov '04	Feb '05
1.00=	1.50	1.49	1.42	1.46
$1.00=	0.84	0.81	0.75	0.77

Banking hours
Mon-Thurs 0800-1430, Fri 0800-1400. Banks on the larger islands tend to stay open in the afternoon and some during the evening to offer currency exchange facilities during the tourist season. The GNTO bureau in Athens can give full details.