Algarve Currency, Banking and Exchanging

The currency used in the Algarve (since 2002), as with the rest of Portugal and much of Europe, is the Euro (€). One Euro is divided into 100 cents. There are 7 Euro banknotes: 5, 10, 20, 50, 100, 200 and 500 Euros. (The front and back of each note is the same for all countries using the Euro). There are 8 coins in the Euro currency: 1, 2, 5, 10, 20 and 50 cents and 1 and 2 Euros.

All coins have one side that is common to all countries with the Euro, whilst the other side differs from country to country – in Portugal one side of the Euro coins displays the royal seal of Dom Alfonso Henriques.

Exchanging Currency in the AlgarveThere are plenty of cash machines all over the Algarve, identified with the 'MB' abbreviation, for Multibanco. You can use them the same as you would at home and you can draw up to 200€ per day. Charges for using your card abroad depend on your own bank so check before leaving.