Local Currency and Exchange Information

The local currency in Budva, Montenegro, is the Euro (€). Although Montenegro is not an official member of the Eurozone, it adopted the Euro as its currency in 2002. This makes it convenient for travelers from Euro-using countries, as there is no need for currency exchange.

For travelers coming from outside the Eurozone, it is advisable to exchange your currency at local banks or official exchange offices. Avoid exchanging money on the street or at airports where rates may be less favorable.

Exchange Rates

The exchange rates can fluctuate, so it’s wise to check the current rate before converting your money. As of October 2023, the exchange rate is approximately:

• 1 USD = 0.92 EUR
• 1 GBP = 1.15 EUR
• 1 AUD = 0.61 EUR

Payment Methods and Banking Options

Budva is generally a cash-friendly destination, but you will find that most establishments accept credit and debit cards. Major cards like Visa, MasterCard, and American Express are widely accepted in hotels, restaurants, and shops.

ATMs

ATMs are readily available throughout Budva, especially in tourist areas. They typically dispense Euros, and most accept international cards. Be aware that some ATMs may charge a fee for withdrawals, so it is best to check with your bank regarding fees for international transactions.

Banking Services

If you require banking services during your stay, several local banks, such as Crnogorska Komercijalna Banka and NLB Banka, offer services to travelers. These banks provide currency exchange, cash withdrawals, and other financial services. Most banks operate during regular business hours, typically from 8 AM to 4 PM on weekdays.

Tipping Customs and Payment Etiquette

Tipping in Budva is customary but not mandatory. It is generally appreciated to leave a tip of around 10% in restaurants if service is not included in the bill. For taxi drivers, rounding up the fare or adding a small tip is a nice gesture.

When paying at a restaurant, it’s best to leave cash for tips rather than adding it to your credit card payment, as this practice may not be followed by all establishments.

Cost Considerations and Budgeting Tips

Budva offers a range of accommodations and dining options, catering to various budgets. Here are some typical costs you can expect:

• Accommodation: Budget hotels and hostels range from €20 to €50 per night, while mid-range hotels are about €50 to €150 per night.
• Meals: A meal at an inexpensive restaurant costs around €10, while a three-course meal for two at a mid-range restaurant can range from €40 to €70.
• Transportation: Local buses are affordable, with fares typically under €1, while taxis start at around €2.50 plus €0.80 per kilometer.

To manage your budget effectively, consider using a daily allowance, tracking your spending, and choosing local eateries for more affordable meals.

Practical Financial Advice for Travelers

• Notify Your Bank: Inform your bank of your travel plans to avoid any issues with card usage abroad.
• Use a Travel-Friendly Card: Consider using a credit card with no foreign transaction fees.
• Carry Some Cash: While cards are widely accepted, having cash on hand is essential for small purchases and tips.
• Keep an Eye on Exchange Rates: Monitor rates to find the best time to exchange your money.
• Emergency Contacts: Keep a list of your bank's contact numbers in case you need to report a lost or stolen card.

By following these tips and understanding the financial landscape of Budva, you can enjoy your trip while managing your finances effectively.