The EURO is now the national currency of the European Union (except the UK). EU member states include 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 was not in circulation until January 1, 2002, when the physical money was introduced. The lira, the former official currency of Italy, is no longer accepted.

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 countries. Bills are denominated in 500, 200, 100, 50, 20, 10 and 5 and they vary in color and size.

How much is the EURO worth?
With the Euro in constant flux, please see www.oanda.com for up-to-date exchange rates.

Below is an idea of what you should expect to spend per week while in Italy. Due to the changes in exchange rates and differences in individual spending habits, we can only give you estimated figures. Most students seem to spend between $125 and $175 per week. This figure does not include traveling on the weekends, excessive eating-out, or heavy shopping. Please keep in mind that some students spend less and others more.
**Please be very careful with your money and passport.

What will I spend money on?
STAMPS: within Europe 0.52 euros
to the U.S. 0.77 euros
NEWSPAPER: 1 euro
FOOD/DRINKS: coca cola 1,2 euros
COFFEE 1 euros
BEER 2.5 euros
DINNER (casual restaurant) 15 euros
DINNER (very nice) 35 euros
FILM DEVELOPING: 12 euros
HAIR CUT: 10-15 euros (Men) 45+euros (Women)
DAILY CAR RENTAL: 42 euros
3 DAY CAR RENTAL: 120 euros
AVE ROUND TRIP: 96.2 euros
HOTEL: 60-80 euros
HOSTAL: 20-40 euros