Euro notes

What is the currency in Spain?

The currency in Spain is the euro, the same as in other European Union countries.

The euro is divided into 100 cents.

• There are eight different coins: 1, 2, 5, 10, 20 and 50 cents, and 1 and 2 euros.

• There are seven different bank notes, for the following amounts: 5, 10, 20, 50, 100, 200 and 500 euros.

On the following page you will find information about types of exchanges that may be useful for planning your trip:   


How much money do I need for my stay?

The average price for products and services varies depending on the province you are visiting, and the season. As a reference, we provide a list of approximate prices for services and products:

  • A single metro (underground) or bus ticket costs around €1,50-2.
  • A glass of beer costs between € 2 and € 6, the latter at a fashionable place.
  • A ticket to the cinema costs between € 5 and € 9.
  • A ticket to the theatre costs between € 12 and € 30.
  • A ticket to the opera or a concert could cost between €50 and €100.
  • A breakfast special, including a cup of coffee, a bun or pastry, and a glass of juice costs between € 2 and € 4, depending on where you go.
  • A daily special at an inexpensive restaurant costs between € 7 and € 10. If you are choosing from the regular menu, the price starts at € 18, while at a medium-priced restaurant, it would start at € 36 per person. At a "three-fork" restaurant, the price per person can come to € 90.
  • Accommodations by category (informative prices for a double room):
    • 5 stars: between € 200 and € 300
    • 4 stars: between € 100 and € 200
    • 3 stars: between € 60 and € 100
    • 2 stars or fewer: less than € 60.


How else can I pay?

With credit cards:

Payment using recognised international credit cards is also commonly available in Spanish shops. They usually have signs indicating this option at the entrance to the establishment. When you make a payment you should show your passport or ID card.

With traveller's cheques:

Traveller's cheques, accompanied by a passport, are also accepted in many hotels, restaurants and shops.


Where can you change foreign currency?

Indian Currency cannot be exchanged in Spain, however USD can be readily exchanged. This service is available at all bank offices, open to the public Monday through Saturday, from 8.30 to 14.00 h (except in the months of June through September, when they remain closed on Saturday). It is also available at currency exchange shops at all major cities, as well as selected hotels and travel agencies.


Is tipping mandatory?

No; in every single establishment in Spain, service is included with the price of the meal or drink. However, tipping is a common practice at bars and restaurants, hotels, and taxis, depending on the total price for the service, and on the generosity of the client. It is usually around five to ten percent of the total price.


How to get IVA (VAT) back on shopping.

If a buyer’s residence is outside the European Union, then he/she can claim back the tax on purchases, as long as together they reach a total in excess of 90.15 Euro. In order to do so you should ask for a tax-free receipt at the point of sale, which is a form stamped and signed by authorized signatory in the point of sale.

There are various companies in Spain authorized to process the reimbursement of I.V.A. (Value Added Tax) to tourists. The procedure is very straightforward. You just have to complete the following steps to get your tax back:

1. You can claim IVA refund, if you shop from a sales point which provide tax free declaration form.

2.  Ask for a tax-free declaration form and give photocopy of passport.

3.  Show your purchases and stamp the tax-free declaration at customs before immigration. The custom officer will put a stamp on it. (Declaration must be stamped within 3 months of purchase).

4. After immigration show the stamped tax free receipt to the processing company like American Express. Most of the processing company have I.V.A. reimbursement points at the main Spanish airports and borders, for payment in cash. You can also have the I.V.A. repaid onto your credit card, by bank transfer or international cheque.

5. The Customs for the VAT refund can always ask you to show items purchased. Especially when it comes to high-priced items. You can either go to the stop "outside" of Customs for VAT refund, before checking in and display the items you purchased. Or check before and after the stop-go "inside" of customs. Although you may require to show the items you purchased. It is therefore recommended to carry in hand luggage at least the items over € 1,000 (jewellery, watches, etc.).

6. The tax would be refunded in  the last airport of European Union you touch, for instance: - If you are flying Malaga-Madrid- Mumbai, then tax would be refunded in Madrid. - If you are flying Malaga-Frankfurt-Mumbai, then tax would be refunded in Frankfurt. - If you are flying Malaga-Dubai-Mumbai, since Dubai is not in European Union, tax would be refunded in Malaga.

Below are some of the companies that process this transaction: Global Refund Spain S.A Premier Tax Free Innova Taxfree Spain Caja de Ahorros y Pensiones de Barcelona Tax Free World Wide Spain Open Refund Comercia Global Payments Entidad de Pago S.L. B Free! Tax Back Financiera El Corte Inglés Travel Tax Free, S.L.U. Also, at Terminal 1 of Adolfo Suárez Madrid - Barajas airport, there is a digital validation point for VAT reimbursements (DIVA). This will enable you to complete the paperwork and receive your VAT refund on the spot.


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