Local Currency and Exchange Information

The local currency in Lagos, Portugal, is the Euro (€). As of October 2023, the exchange rate is approximately 1 Euro = 1.05 USD. However, exchange rates fluctuate, so it is advisable to check current rates before traveling.

Currency exchange services are available at banks, airports, and exchange bureaus throughout the city. It’s generally recommended to exchange some money before arriving to cover initial expenses like transportation and meals.

Payment Methods and Banking Options

In Lagos, both cash and card payments are widely accepted. However, it's wise to carry some cash for smaller purchases, especially in local markets and smaller eateries.

• ATMs: There are numerous ATMs available in Lagos, which accept major international cards. Most ATMs dispense Euros and offer competitive exchange rates.
• Credit and Debit Cards: Visa and Mastercard are commonly accepted in hotels, restaurants, and shops. However, American Express may not be accepted everywhere.
• Mobile Payments: Contactless payment methods like Apple Pay and Google Pay are becoming increasingly popular but may not be accepted in all locations.

Tipping Customs and Payment Etiquette

Tipping in Portugal is generally appreciated but not obligatory. Here are some guidelines:

• Restaurants: Leaving a tip of about 5-10% is common if service is not included in the bill.
• Bars and Cafes: Rounding up the bill or leaving small change is customary.
• Taxi Drivers: It's common to round up the fare to the nearest Euro as a tip.

When paying, it's polite to hand cash directly to the server or to leave it on the table. If using a card, check if the establishment adds a service charge.

Cost Considerations and Budgeting Tips

Lagos is generally affordable compared to other Western European destinations, but costs can vary based on season and location. Here are some cost considerations:

• Accommodation: Expect to pay between €60-150 per night for mid-range hotels. Hostels and budget options can be found for as low as €20-50.
• Meals: A meal at a mid-range restaurant will cost around €15-30, while cheaper eats can be found for €5-10.
• Activities: Budget around €20-50 for excursions, depending on the activity.

To budget effectively, consider creating a daily spending limit and track your expenses using a mobile app.

Practical Financial Advice for Travelers

• Notify Your Bank: Inform your bank of your travel plans to avoid any issues with card transactions.
• Emergency Funds: Keep a small reserve of cash for emergencies and a backup card in case of loss or theft.
• Avoid Currency Exchange Fees: Use ATMs for cash withdrawals as they often provide better exchange rates than currency exchange offices.
• Keep Small Coins: Having small denominations can be helpful for tipping and small purchases.

By following these financial tips, you can enjoy your trip to Lagos without financial stress, allowing you to focus on the beauty and culture of the city.