Where to exchange currency

In Portugal, currency can be exchanged at banks and exchange offices registered with Banco de Portugal.

The currency exchange service is free, meaning the institutions are not required to exchange foreign currency.

The exchange rates to be applied are freely set by the entities authorised to carry out the currency exchange activity. These entities must advertise their purchase and sale prices.

Fees charged to customers by the currency exchange are also freely set and must be included in the institutions’ price lists. In cases where fees are not charged for the currency exchange, these costs may be implicit in the exchange rates set by the institution.

Banco de Portugal does not exchange foreign currency.

The exchange rates published by Banco de Portugal are benchmark exchange rates defined by the European Central Bank (with the exception of the exchange rates of the Macao pataca and the Cape Verde escudo, which are defined by Banco de Portugal).

Benchmark exchange rates are only informative and do not distinguish between buying and selling prices.