Montenegro's official currency is the Euro (€). Coins come in denominations of 1, 2, 5, 10, 20, and 50 cents, as well as €1 and €2. Banknotes are available in €5, €10, €20, €50, €100, €200, and €500 denominations.
Exchanging Currency
Consider these options for exchanging your currency in Montenegro:
- Banks: Banks generally offer competitive exchange rates and lower fees. Look for major banks such as Erste Bank, Hipotekarna Bank, and NLB Bank. Keep in mind that banks are usually closed on weekends.
- Exchange Offices: Exchange offices are common in tourist areas and can be found in airports, hotels, and shopping centers. While they may offer convenience, their exchange rates might not be as favorable as those of banks, and they may charge higher fees.
- ATMs: Withdrawing Euros from an ATM using your debit or credit card may provide a good exchange rate. However, check with your bank for any international transaction fees or withdrawal limits.
Tips and Recommendations
Follow these tips to get the best currency exchange deals in Montenegro:
- Exchange a small amount of money before your trip for initial expenses such as transportation and food.
- Compare exchange rates and fees at different locations to find the best deal.
- Avoid exchanging money at airports or popular tourist spots, as they tend to have less favorable rates.
- Notify your bank of your travel plans to avoid blocked transactions due to suspected fraud.
- Use a credit card with no foreign transaction fees for larger purchases.
- Keep a small amount of local currency on hand for emergencies or places that do not accept credit cards.
