If you’re only interested in this question, the currency of Montenegro is the Euro. However, it’s not as straightforward as it seems. Readers who aren’t familiar with the details might be surprised: the currency is the Euro, but you don’t need a Schengen visa, and Montenegro isn’t in the European Union. Keep reading for more useful information about the country’s money.

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Currency of Montenegro
In Montenegro, small euro coins (1, 2, 5 cents) are almost out of circulation, and nobody gives change in those denominations. They round up to the nearest 10 or even 20 cents.

Currency of Montenegro: general information

Here’s a structured overview:

  • Montenegro is not in the European Union; it is just a candidate for membership. Countries can remain in this status for up to 10 years.
  • Montenegro is also not in the Eurozone, which is the union of countries using the Euro. However, Montenegro adopted the Euro unilaterally, without official membership.
    • In 2009, the Montenegrin government decided to use the Euro as the national currency, without joining the European Central Bank. Since then, the Euro has been Montenegro’s currency.
  • For more details on Montenegro’s membership status and why, read the article: Montenegro in the EU or not?

Good to know:

Many people ask how it’s possible to use a currency not officially their own without consequences.

It’s quite simple. Montenegro has a population of about 600,000 people, including over 100,000 expats who earn money abroad and spend it in Montenegro. Additionally, more than 3 million tourists visit each year, bringing in foreign currency, particularly Euros. Montenegro also has its own production, agriculture, and a well-developed export sector.

As a result, Montenegro has a huge budget surplus, meaning it receives far more foreign currency than needed for the local market. Hence, there’s no need for a printing press or European Central Bank regulation. Tourists bring in all the Euros the country needs.

Where to pay by card and where in cash

Generally, you won’t have many problems; it’s a civilized country where you can pay by card almost everywhere, but not always. Here’s a guide on where you can use a card and where you need cash.

You can pay by card:

However, sometimes you can’t pay by card, such as in some cafes. This doesn’t mean it’s the norm, but it’s a good idea to always have cash on hand:

montenegro prices
Prices in tavern menus are in Euros. It’s a good idea to check if they accept cards before ordering, if that’s important to you.

Banks in Montenegro: What to Do If You Arrive with Other Currencies

As you’ve already understood, it’s ideal to come here with euros, since Montenegro’s currency is the euro. You can step off the plane without needing to exchange money, and immediately pay for a taxi or go for dinner at a restaurant.

You can exchange money at any bank. Exchange rates are roughly the same everywhere, with almost no differences. You can also withdraw money from ATMs, which are plentiful.

You won’t have any trouble exchanging the following currencies at any bank:

  • U.S. dollars
  • British pounds
  • Canadian dollars
  • Swiss francs

Advice from the author (me):

The exchange rate for other currencies is not the best, therefore, it is better to exchange your currency for the Euro or one of the currencies above before traveling to Montenegro.

Currency in Montenegro: tips for travellers

Here are a few tips. Some may seem obvious, but they can help you save a bit of money or avoid inconvenient situations:

  • It’s always better to have small euro denominations with you, as change is often not available. This is especially true for souvenir shops and small stores.
  • 1, 2, 5, and even 10 euro cents are not considered money here anymore. No one gives 5 euro cents as change, and they usually round down in your favor.
  • Before your trip, ask your bank if they have partners in Montenegro if you plan to withdraw cash from ATMs. Partner banks have lower fees, or sometimes no fees at all.
  • It doesn’t matter which bank you choose to exchange money.
  • Leave 200 and 500 euro bills at home. It will be a headache to break them here. These large bills are often refused, and you’ll have to go to a bank to get them changed.

In conclusion: The currency of Montenegro is the euro. Bring euros, both cash and card, with you on your trip, and you won’t have any problems with exchanging money or making payments anywhere in the country.

Resources to help you plan your dream trip to Montenegro

  • Aviasales – Cheap Flights and best deals.
  • Car rental in Montenegro:
    • DiscoverCars – a large international platform.
    • LocalRent – works with local rental companies. Leader in car rental in Montenegro.
  • Hotels and apartments all over the country:
    • Hotellook compares the prices among dozens of other booking services and offer the best price
    • Booking – the most popular booking platform
    • Agoda – even more accommodation options in Montenegro
  • Tours, excursions and activities (including extreme ones):
    • GetYourGuide – more than 430 tours
    • Viator – 780+ excursions and activities throughout the country
  • Comprehensive travel insurance: EKTA
  • Internet and Calls:
  • Taxi and airport transfers: Intui.Travel