Currency Ireland one of the most difficult parts of traveling to a foreign country is figuring out the currency. Fortunately, Ireland makes use of the euro, which simplifies matters for those who live in or have traveled to the European Union.
When Did the Euro Come Into Effect?
People who have not traveled to Ireland in recent years might well wonder when did the Euro come into effect? They are accustomed to relying on the pound while in the country. On January 1, 2002, the government began removing the pound from circulation, replacing it with the new currency. Irish citizens had to learn the different types of notes, just as visitors will. Fortunately, widespread use of the euro should make the transition relatively trouble free.
Currency in Ireland
While the punt may be retired, this has only turned the old notes and coins into more valuable collector’s items. The pertinent information about currency in Ireland relates to the types of coins and notes used today. The types of coins under the old pound sterling system have been replaced by 1c, 2c, 5c, 10c, 20c and 50c. Coins in values of €1 and €2 are widely circulated. The types of notes range from €5 to €10, €20 and €50. Larger denominations are also in circulation. However, travelers should be aware that the €100, €200 and €500 notes are likely to be heavily scrutinized by shopkeepers and clerks. Some businesses may be unable to accept these larger notes as well. Accordingly, it makes sense to have some traveler’s checks and credit cards on hand.
Traveling with Foreign Currency
Most businesses are not equipped to handle foreign currencies. A handful of larger shops and hotels in the cities may be able to accept pound sterling notes or U.S. dollars if they are extremely popular tourist destinations and have a great deal of demand for accepting foreign currency. Travelers should be aware that the exchange rate they will receive at these establishments will likely not be as favorable as what would be available at a bank or through their credit card issuer.
The punt may no longer be widely accepted in Ireland, but the conversion to the euro is not without advantages. Those already familiar with the currency of the European Union will appreciate the ease of being able to use the same currency in Ireland, and newcomers will appreciate how straightforward the current system is.