The EURO became the official currency of Belgium on January 1, 1999. The EURO is now the national currency of the European Union member states (except the UK). As of January 1, 2007 the member states are Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Germany, Greece, Finland, France, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, The Netherlands, and the United Kingdom. The EURO has been in use since 1999 for bank transactions but had not been in circulation until January 1, 2002 when the physical money was introduced. The Belgian franc, the former official currency of Belgium, is no longer accepted.

As of January 1, 2002, there are 8 EURO coin denominations and 7 EURO bill denominations in circulation. Coins are denominated in 2 and 1 EUROS, then 50, 20, 10, 5, 2 and 1 cents. Each member state decorated their own coins, but all coins are interchangeable within the 12 countries. Bills are denominated in 500, 200, 100, 50, 20, 10 and 5, and they vary in color and size.

With the Euro in constant flux, please see www.oanda.com for up-to-date exchange rates.

Since the introduction of the Euro, Brussels has become a little more costly. You will want to budget for more money than you think you will spend, especially if you plan on traveling while you are there. Keep in mind that lunch is not included in the ISA program price, so you will want to budget that in as well.

Due to fluctuations in exchange rates and differences in individual spending habits, it is difficult to estimate how much you will spend during your time abroad. Most students spend between $200-$300 a week at the most, but the frugal student will be able to get by on much less. This amount takes into consideration day-to-day expenses like snacks, newspapers, coffee, etc., and also money that will be spent on going out to eat, shopping, nightlife, etc.

EXCESSIVE SPENDING IS NOT FACTORED INTO THAT RANGE. Every student will use their money for different things and every student has different financial circumstances that will effect their economic decisions abroad, so please keep in mind that you may spend much less or much more than the estimated amounts.

It is a good idea to have some cash upon arrival in Brussels exchanged into Euros (you can do this at a bank in the United States), but for the most part using an ATM machine abroad or using a credit card is the best option, especially for exchange rates. You will be able to use your credit card almost anywhere in Brussels.

You will want to inform your bank of your plans to travel overseas as some banks will put holds on your card if the activity changes and it looks as though your card has been stolen.