What Currency Does Greece Use in 2026?

What is the currency of Greece in 2026 

To get straight to the point, as of 2026, Greece's official currency is the Euro (EUR).

Greece joined the European Union in 2001. 

At that time, it switched from their national currency, the drachma, to the euro, the common European currency.

Since then, the euro has been the sole legal tender in Greece.

Overview of Euro Currency:

• Greek Currency: Euro

• Currency Symbol: €

• Currency Code: EUR

Denominations: 1 euro ＝ 100 cents

Banknotes €5, €10, €20, €50, €100, €200, and €500

Coins: €2 and €1, and cents come in 50, 20, 10, 5, 2, and 1 cents

What was the currency of Greece before the Euro?

Greece formally joined the EU in 2001 and adopted the euro as its legal tender.

The euro officially replaced the drachma as Greece's circulating currency on January 1, 2002.

The euro became the official currency throughout Greece, and three months later, on March 1, the drachma ceased to be legal tender.

Fixed Conversion Rate from the Drachma

The fixed conversion rate from the Greek drachma (GRD) to the euro (EUR) was 340.750 drachmas per euro (€).

This fixed conversion rate was set at the time of the euro's introduction, before the transition was complete.

This transition marked Greece's shift from a “low-value currency” to a “high-value currency.”

History of the Greek Drachma (GRD)

The drachma, which replaced the euro, is a currency with a long history dating back to B.C. Below is a brief summary of its history.
 

Current Status of the Greek currency 

When the Greek debt crisis occurred in 2009, economic instability affected the entire EU.

Because of this, there was discussion about Greece returning to the drachma (known as “Grexit”).

Greece still benefits from the stability of the euro as its currency and has no plans to return to the drachma.

Economic Growth After the Adoption of the Euro

Greece officially joined the eurozone in 2001 and adopted the euro in January 2002. This change contributed to price stability and increased confidence in the national currency.

Expanded Access to Financial Markets

Joining the eurozone provided Greece with easier access to European capital markets, allowing the government and businesses to raise funds on more favorable terms. 

This increased access led to a rapid increase in government debt, which later contributed to the debt crisis.

Reduced Transaction Costs

Using the same currency as its major trading partners reduced exchange costs and eliminated exchange rate risk. As a result, Greece's trade and tourism industries were significantly boosted.

External Financial Assistance Framework

As a member of the eurozone, Greece received financial and investment support from the EU and the IMF during crises. 

However, Greece's inability to adjust its exchange rate domestically widened the competitive gap with core countries like Germany, resulting in a persistent trade deficit, a structural problem.

What's the Future of the Greek Economy? 

The Greek economy has experienced a prolonged debt crisis, but in recent years it has overcome it and is considered by the market to be entering a stable recovery phase.

There are a growing number of positive factors for FX traders to consider, especially as we approach 2026.

Steady Growth Exceeding the EU Average

Market forecasts predict Greece's real GDP growth rate will be approximately 2.1% to 2.3% in 2025.

This is higher than that of major eurozone countries such as Germany and France, and is considered a relatively stable growth phase among southern European countries.

The fact that this growth is sustainable is reassuring even for novice investors.

Escaping Debt and Restoring Market Confidence

Currently, investors are most focused on the fact that Greece's fiscal consolidation is progressing faster than expected.

The Greek government prepaid approximately €5.3 billion in bailout loans at the end of 2025.

Furthermore, major rating agencies such as S&P and Fitch have upgraded Greece to investment grade, marking a major turning point.

As a result, foreign investment capital is flowing back in, and 10-year government bond yields have stabilized in the low 3% range. 

Promising Sectors

The main sectors currently supporting the Greek economy are as follows;

• Tourism: Demand for international travel is recovering, driving a strong economy overall.

• Construction and Infrastructure Investment: Urban development and public works are gaining momentum.

• Domestic Consumption: Personal consumption is also showing signs of recovery due to an improved employment environment.

• EU Recovery and Resilience Fund (RRF): EU funds are being used for growth investments.

• Infrastructure Development: Port and railway modernization is progressing, strengthening Portugal's presence as a logistics hub in the Mediterranean.

These sectors are attracting attention as factors that will support not only short-term economic cycles but also medium- to long-term growth.

Conclusion 

Greece in 2026 will be a positive economic zone, bringing stability to the eurozone.

With Greece's GDP forecast for 2025 showing strong growth, the economy is expected to boom, particularly in the fishing and tourism industries, and to continue growing in 2026. 

This will be one factor that will allow you to confidently consider a "euro bullish" strategy when trading EUR/USD and other pairs.

However, please keep in mind that there is always a risk that the economic situation in other eurozone countries or various external factors will trigger euro selling when FX trading.