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Currency Exchange in Europe for Indian Tourists: A Simple Guide

Team AckoNov 11, 2025

There's a certain charm about Europe that's irresistible to most travellers, and there's no doubt that planning a European vacation is extremely exciting. There are cobblestone streets, beautiful cafes, art, and culture at every corner. But between all the travel preparations, there's one little detail that needs a little more attention than you think, and that is currency exchange. Managing your money smartly while abroad can save you from a lot of last-minute stress and unnecessary expenses. And let's be honest - who wants to spend their time in Europe stressing about currency?

In this blog, we'll talk about everything you need to know about currency exchange in Europe, and how travel insurance can protect you from unexpected financial stress.

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Contents

Here's How Currency Exchange Works in Europe
Where Can You Exchange Currency in Europe?
Best Time to Exchange Currency
How Travel Insurance Helps During Currency-Related Emergencies
Tips for Managing Your Money While Travelling in Europe
Conclusion
Frequently Asked Questions

Here's How Currency Exchange Works in Europe

Here's a table of some of the popular destinations and their currencies. Having this list will help you plan your currency needs a lot more efficiently before you board your flight:

Country	Currency
France, Italy, Spain, Germany, Netherlands	Euro (EUR)
United Kingdom	Pound Sterling (GBP)
Switzerland	Swiss Franc (CHF)
Denmark	Danish Krone (DKK)
Sweden	Swedish Krona (SEK)
Norway	Norwegian Krone (NOK)
Czech Republic	Czech Koruna (CZK)
Hungary	Hungarian Forint (HUF)
Poland	Polish Zloty (PLN)

Before your trip, make sure you have all essentials sorted, including Travel insurance for Schengen Visa to ensure financial protection and peace of mind during your European journey.

Where Can You Exchange Currency in Europe?

There are many convenient options for exchanging currency in Europe

1. Banks and ATMs

Banks generally offer the most reliable exchange rates. Using international ATMs with your Indian debit or forex card is one of the easiest and safest ways to withdraw local currency. Make sure to check your bank’s foreign transaction fees before you travel, as they can range from a small percentage to a flat withdrawal fee.

2. Airport Currency Exchange Counters

Airports are convenient for quick cash, but they usually have exchange rates that are less beneficial for you. If you have to use them, exchange only a small amount for immediate needs like transport or snacks.

3. Currency Exchange Offices

You’ll find these in major cities, tourist areas, and train stations. They’re useful, but always double-check the rate and commission fee before confirming your exchange. Avoid counters that advertise “zero commission”; they often compensate with poor rates.

4. Online Forex and Travel Cards

Prepaid travel or forex cards are one of the best options for Indian tourists. You can load multiple currencies, lock in favourable rates in advance, and use them like a debit card for shopping, dining, or ATM withdrawals. It’s also safer than carrying large amounts of cash.

Best Time to Exchange Currency

The timing of your currency exchange can make a big difference to your budget.

Before departure: Exchange a small amount in India to cover your first 1-2 days in Europe (for cabs, coffee, or small purchases).
After arrival: Use your forex card or withdraw cash locally for better rates.
Avoid weekends or holidays: Exchange rates can fluctuate or be less favourable due to low market activity.

If your travel extends unexpectedly due to emergencies, flight cancellations, or other issues, you might need to exchange more money at short notice, and that’s where travel insurance can step in to ease the stress.

How Travel Insurance Helps During Currency-Related Emergencies

It might not seem directly related, but travel insurance plays a major role in financial security when you’re abroad. Let's say, for example, you lose your wallet, or your trip gets delayed, that's when the right travel policy can cover unexpected expenses and losses.

Here’s how travel insurance offers protection in situations related to currency use:

Scenario	How Travel Insurance Helps
Lost wallet or stolen cash	Reimburses or covers the value of lost or stolen money and cards, depending on the policy you have.
Trip cancellation or delay	Reimburses any prepaid expenses like hotels, tours, or events if plans change because of emergencies.
Emergency medical costs	Covers hospital bills, doctor visits, and medicines, which means you don't need to worry about sudden large expenses abroad.
Travel disruptions due to strikes or medical disasters	Compensates for extra accommodation or rescheduling costs if your plans are affected.
24/7 assistance	Offers round-the-clock help for lost documents, local guidance, or advice on safe currency exchange options nearby.

Tips for Managing Your Money While Travelling in Europe

Here are a few tips to manage your money while also staying safe:

Mix cash and cards: Keep some local cash for small transactions, but rely mainly on cards for bigger spends.
Avoid dynamic currency conversion: When paying by card, always choose to pay in the local currency, not INR. This prevents hidden conversion fees.
Use ATMs smartly: Withdraw larger amounts less frequently to save on per-transaction fees.
Stay alert in crowded areas: Tourist zones can be hotspots for pickpockets, use money belts or concealed pouches.
Track your expenses: Use expense tracker apps or your travel card’s mobile app to monitor your spending in real time.
Keep emergency contacts handy: Note down your bank’s international helpline and your insurer’s emergency number.

Conclusion

Handling currency exchange in Europe doesn’t have to be stressful. A little planning like knowing which currencies to carry, where to exchange, and how to balance cash with digital payments goes a long way.

Pair that with a solid travel insurance plan, and you can explore Europe’s charm without worrying about sudden financial setbacks. Whether it’s a stolen wallet, a missed flight, or an extended stay, insurance helps you make sure that your dream trip stays just that: a dream, not a financial nightmare.

Frequently Asked Questions

Can I use my Indian debit or credit card in Europe?

Yes. Make sure to check with your bank and confirm that it's a card that can be used for international transactions.

What if I lose my cash or cards abroad?

Most travel insurance plans reimburse lost cash up to a certain limit and provide emergency assistance for replacing cards.

Is there a limit on how much cash travel insurance will cover?

Yes. Most policies have a maximum coverage limit for lost cash.

Can I avoid high conversion fees while travelling?

Yes. You can use bank-affiliated ATMs, preloaded travel cards, or credit/debit cards with low foreign transaction fees.

Can my friend who is on the trip with me use my travel insurance?

No. Travel insurance policy can only be used by the policyholder, or the people covered under the policy.

What documents do I need for currency exchange?

You’ll usually need a valid passport, visa, and air tickets for currency exchange in India. In Europe, a passport is typically enough to complete the transaction.

Do I need to only carry Euros in Europe?

Not really. While the Euro is used in many countries, some nations like the UK, Switzerland, and Sweden have their own currencies. You can carry a mix of local currency and cards to stay prepared.

Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on several secondary sources on the internet, and is subject to changes. Please check the policy document for cancellation reasons, and terms and conditions of the policy.