What is the currency in Montenegro and what money to take with you?

If you are a lover of a secluded quiet holiday, without noisy parties and a large number of tourists, then you should definitely visit Montenegro. This is a country with very beautiful landscapes and a warm climate, besides this, it has one more feature - it does not have its own currency, the national currency there is the euro.

For a long time this state did not have its own monetary unit. At different times in everyday life there were different banknotes and coins. Until 1909, the money of different European countries was used as money in the country: Turkish lira, Austro-Hungarian krone, French franc and some other currency units.

Since 1909, the ruler of Montenegro, Nicola I, by his decree, introduces the national currency: perper and steam. Until 1912, gold and silver perpers with a face value of 1, 2, 5, 10, 20, 50 and 100 perpers were used. After that, banknotes appeared - perper, respectively, 1 perper is equal to 100 pairs. The pairs remained small coins in denominations of 1, 2, 10 and 20 vapors.

In 1918, Montenegro lost its independence and was annexed to the United Kingdom of Croats, Slovenes and Serbs, and local banknotes lost their value, the Royal Crown came into use. But she was not for long, in 1920 new money appeared - Yugoslav dinars. This currency existed in the country for a long time, until the end of the 80s of the last century, until hyperinflation began in the country. During this time, denominations of 50 thousand, 1 and 2 million dinars were issued.

In the early 90s, the government tried to take measures and change the situation, but after 2 years the economic situation in the country became even worse.In 1993, 10 and 500 billion dinar notes were issued. By the end of the 90s, the economy began to stabilize, and new money was issued much lower than face value. Since 1999, the German mark has entered the country as a means of payment, which later remained the single currency of Montenegro.

At the beginning of 2002, when a single currency, the euro, was introduced throughout Europe, Montenegro unilaterally accepted it as currency in its territory. Since this process was not agreed with the European Central Bank, this state still does not have the right to issue it.

As in any civilized country, in Montenegro, the currency can be exchanged at any bank and at separate specialized currency exchange points. And also upon arrival to the country, you can change money without leaving the airport, there are also exchange points there, as in any large shopping center. Since the country is focused on tourists, this can be done in your hotel or tourist center, where there are special devices.

If you decide to change money in any other place except the bank, you will need to consider the commission that can be taken from you. In some exchange points, the commission for currency exchange can reach up to 10 percent of the amount of exchange. But there is a chance that you will fall for scammers, be careful.

When exchanging money at banks in Montenegro, there are several points to consider.

• Most banks work full time Monday-Thursday, Friday - shorter hours, Saturday and Sunday - days off.
• Since the country is in a warm climate zone, and during the day there is a rather high air temperature, the official lunch break in the country lasts more than two hours, from 13 to 16 hours. This mode of operation is adhered to by many firms and organizations, including banks.
• Until 13.00 the money can be changed in the People’s Bank - it is a kind of analogue of the Russian Central Bank.

As for the euro to ruble exchange rates, it can vary slightly in exchange points than in a bank. And as mentioned above, when exchanging currency in the country, you may be charged an additional commission.

The best option would be if you come to the country already with the money exchanged. Part of the money can be put on the card, and part brought in cash.

When traveling to any country, including Montenegro, the best way to transport and store money is plastic cards. If the card is lost or stolen, you can block the card, while the money will remain in your account. In addition, they can be paid almost everywhere in the center of the country, and at all tourist resorts. Before the trip, it is better to phone the bank and clarify the conditions for using the card abroad. Basically, if you travel to another country with your card, they will charge you a commission for cashless payments.

There are two main types of fees when using cards.

• Conversion fee. This is the commission of the bank that issued your card. If your card has a different currency than the euro, when paying with such a card you will be charged a fee for the conversion of the amount in euros. Any terminal will recalculate on its own and charge you a fee for this recalculation - this is the essence of conversion. Each bank sets this commission independently; in some cases, it can reach up to 10 percent of the settlement amount.
• ATM withdrawal fee. It must be remembered that Russian banks do not work in Montenegro, but ATMs accept Visa and MasterCard payment system cards. For example, if you have a Sberbank card, when you withdraw cash from it, you will take a commission of 5 to 10 percent of the withdrawal amount - the ATM will automatically deduct this amount from your account.

In popular tourist destinations and in the center of the country, you can pay almost anywhere on the map.

In Montenegro, banks operate according to a different regime from our banks, and there is a chance of not getting into the bank. But since this country is focused on tourists, there are ATMs in all places popular for tourists and in all crowded places. In the central part of the cities of Budva, Tivat and Bar and the old cities of Herceg Novi and Kotor popular for tourists, ATMs are at almost every step. At airports, ATMs are in an accessible and convenient place.

As noted above, in this country you can only pay euros, which means that in all ATMs only euro bills are loaded. Some ATMs have an interface in Russian, which makes Montenegro even more attractive for Russian-speaking tourists.

In addition, in Montenegro there is another feature when withdrawing money through ATMs. The withdrawal amount is usually not limited, but you can still withdraw only a certain amount. This is due to the fact that ATMs have technical restrictions on the issuance of banknotes. As a rule, the average limit on withdrawing over forty bills, no matter what dignity. If the ATM is loaded with small bills, then you will be able to withdraw only a small amount.

If you have the amount on the card in a currency other than Euro, then when withdrawing money from an ATM, you risk paying a double commission. The first - for currency conversion, the second - for cash withdrawals, so it is best to replenish the card before arriving in Montenegro, or do it on the spot, but through online services.

Despite the fact that the country is not a member of the European Union, the rule of import and export of money applies to it. When entering the country while still on an airplane, you will be asked to fill out a declaration, a cash amount of more than 10 thousand euros must be declared. As it has already become clear, it’s better to take the euro on a trip, since with any other currency you may have difficulty paying with it.

It is also better to take banknotes in denominations of 10, 20 and 50 euros. You do not need to take large bills, you may just not need them, and not everywhere you can exchange them. The average cost per day for tourists is 60-70 euros, this amount you will include visiting a cafe, buying souvenirs or one excursion. Payment for excursions can reach up to 300 euros, but these are usually long excursions or visits to popular places.

Unlike other European countries, Montenegro has relatively low prices for goods and services. Here you can have fun, get a pleasant experience, returning with a lot of souvenirs, while spending a small amount.

You will learn about 10 interesting facts about Montenegro from the next video.