If you’re only interested in a quick answer— currency of Montenegro is the Euro. But the situation is not as simple as it seems. Readers unfamiliar with the nuances may find it surprising: the currency is the Euro, yet a Schengen visa is not required, and Montenegro is not in the European Union. Keep reading—there’s plenty of useful information about money in Montenegro ahead.

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Currency of Montenegro
This is what Euro cents look like, but in Montenegro, 1, 2, and 5-cent coins are almost out of circulation, and no one gives change in them. Prices are rounded to the nearest 10 or even 20 cents.

Currency of Montenegro: Key Points

Let me break it down clearly so you get a structured overview:

  • Montenegro is not part of the European Union—it is only a candidate for membership. Based on the experience of other countries, a country can remain a candidate for a decade or more.
  • Montenegro is not part of the Eurozone. The Eurozone consists of countries that officially use the Euro as their currency. However, Montenegro adopted the Euro unilaterally, meaning it is not officially part of the Eurozone.
  • In 2009, the Montenegrin government decided to use the Euro as the national currency but chose not to join the European Central Bank. Since then, the Euro has been Montenegro’s official currency.

For more details on Montenegro’s EU status and why it adopted the Euro, check out the article: Is Montenegro in the EU or Not?

Good to know:

Many people wonder how a country can use a foreign currency without any formal agreement.

It’s quite simple. Montenegro has a population of only about 600,000, with over 100,000 expats who earn money abroad but spend it locally. Additionally, over 3 million tourists visit Montenegro annually, bringing in foreign currency—mainly Euros. The country also has local industries, agriculture, and a strong export sector.

As a result, Montenegro has a large budget surplus—it receives far more foreign currency than it needs for domestic circulation. This means there is no need for a central bank to print money or regulate the Euro. Tourists bring in enough Euros to keep the economy running smoothly.

Where You Can Pay by Card and Where Cash Is Needed

Montenegro is a modern country, and you can pay by card almost everywhere. However, there are exceptions. Here’s a general guide to where card payments are accepted and where you should carry cash.

You Can Pay by Card At:

✔ Supermarkets and grocery stores
✔ Almost all cafés, restaurants, and bars
✔ Newspaper kiosks when buying a SIM card (Check out the guide on internet options in Montenegro here)
✔ Hotels (Important: hotels accept cards, but private apartments usually require cash)
✔ Toll roads and car rentals (Read about renting a car, driving rules, parking, and roads in Montenegro)
✔ Gas stations

Where You’ll Likely Need Cash:

Even in some cafés and restaurants, card payments are sometimes not accepted, so always carry cash just in case.

Here are some places where cash is usually required:

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.

Montenegro’s Banks: What to Do If You Arrive with Dollars

As you’ve probably realized, the best currency to bring to Montenegro is the Euro. When you land, there’s no need to exchange money—you can immediately pay for a taxi or go straight to a restaurant without any hassle.

You can exchange money at any bank, and exchange rates are more or less the same everywhere. ATMs are also widely available for cash withdrawals.

Montenegrin banks will easily exchange the following currencies:
✔ US Dollars
✔ British Pounds
✔ Canadian Dollars
✔ Swiss Francs

Advice:

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 others might help you save money and avoid inconveniences:

✔ Always carry small Euro denominations—many places lack small change, especially in souvenir shops and small stores.
✔ 1, 2, 5, and even 10 Euro cents are rarely used—shops often round prices down instead of giving out small coins.
✔ Check with your bank before traveling—if they have partner banks in Montenegro, you might pay lower ATM fees or even avoid them entirely.
✔ It doesn’t matter where you exchange money—rates are nearly identical across banks.
✔ Avoid bringing €200 and €500 bills—they are difficult to break, and many places won’t accept them. You’d have to visit a bank to exchange them.

Final Thoughts:

Montenegro’s currency is the Euro. Bring Euros with you—both cash and a card—and you’ll have no trouble paying anywhere in the country.

Resources to help you plan your dream trip to Montenegro

  • WayAway: Cheap flights and best deals.
  • Car rental in Montenegro:
    • LocalRent – works with local rental companies. Leader in car rental in Montenegro.
    • DiscoverCars – a large international platform.
  • Budget-friendly vacation packages to Montenegro: CheapOair.
  • Hotels and apartments all over the country:
    • Trip.com – the most popular accommodation booking platform
    • TripAdvisor compares the prices among dozens of other booking services and offer the best price
  • Tours, excursions and activities (including extreme ones):
    • GetYourGuide – more than 800 tours
    • Viator – 1000+ excursions and activities throughout the country
  • Comprehensive travel insurance: EKTA
  • Internet and Calls:
  • Taxi and airport transfers: Intui.Travel