Madrid: Money & Costs

• Currency

  Name

  Euro

  Symbol

  €

  Euro notes come in denominations of 5, 10, 20, 50, 100, 200 and 500. It is often difficult to get change for a €500.00 note.

  One euro is divided into 100 cents or centimes. Coins of 1, 2 and 5 centimes are copper-coloured; coins of 10, 20 and 50 centimes are gold-coloured; 1 and 2 euro coins are gold-and-silver coloured. It's a good idea to keep a supply of various coins for parking meters, laundrettes, tolls etc.

• Changing Your Money

  Travellers cheques can be cashed at banks and exchange offices, and usually attract a slightly higher exchange rate than cash. These days, even small towns have a cajero automático (ATM) where you can withdraw euros from credit and debit accounts at what is usually the best rate for non-euro zone visitors.

• Money Tips

  Spain is one of Europe's more affordable countries. If you are particularly frugal it's just about possible to scrape by for around €20.00 a day. This would involve staying in the cheapest possible accommodation, avoiding eating in restaurants or going to museums or bars, and not moving around too much. A more comfortable budget would be €40.00 a day, allowing for a basic hotel room, set meals, public transport and entry to museums. With €120.00 a day you can stay in excellent accommodation, rent a car and eat some of the best food Spain has to offer.

  Credit and debit cards are widely accepted at hotels and restaurants, especially from the mid-range up, and also for long-distance train tickets.

  Be careful carrying your money, whether it's jingling or plastic, as tourists are a major target of theft - hundreds of thousands of credit cards go missing in Spain every year.

• Sample Price Guide

  coffee

  € 1.00

  bocadillo

  € 3.00

  metro ticket

  € 1.15

  newspaper

  € 1.00

  souvenir t-shirt

  € 10.00

  entrance ticket to the Prado

  € 6.00

  small bottle of water

  € 0.35

  litre of petrol

  € 0.82

  small bottle of beer

  € 1.00

  admission to dance club

  € 10.00

  Average Room Prices
  Low	Mid	High
  €0-70	€71-150	€150+
  Average Meal Prices
  Low	Mid	High	Deluxe
  €5-10	€10-20	€20-50	€50+

• Tipping

  In restaurants the law requires menu prices to include service charge, and tipping is a matter of personal choice - most people leave some small change if they're satisfied and 5% is usually plenty. It's common to leave small change at bar and café tables.

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