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When living in Serbia, it’s important to understand the local currency and how to manage your finances effectively. From currency exchange to daily expenses, here's a quick guide to help you navigate money matters during your Erasmus+ stay:
Currency: The official currency is the Serbian dinar (RSD).
Approximate exchange rates:
1 USD ≈ 110-114 RSD
1 EUR ≈ 114-117 RSD.
Banking: Open a local bank account for better rates and lower fees. Major banks offer student accounts, but you need to check which banks you can open an account at as a foreign student. You'll need a passport, student ID, and proof of residence.
Cash vs. Card: Cards (Visa, MasterCard) are widely accepted in cities, but it's good to carry some cash (RSD) for small purchases or in rural areas. You can pay for almost everything with cards, but sometimes taxis, fast food, and drinks in certain bars can only be paid with cash.
Cost of Living:
- Rent: Shared apartments cost 300-600 EUR/month in Belgrade, less in smaller cities.
- Food: Groceries are affordable, around 150-300 EUR/month. Dining out is about 800-1,500 RSD per meal.
- Transportation: Public transportation is free within the city of Belgrade.
International Payments: Euros (EUR) are sometimes accepted, but always expect change in dinars. Use credit/debit cards in most places.
Student Discounts: Many places offer student discounts with a valid ID.
If you have any further questions, feel free to reach out. I’m here to help!
Milos, OLS Community Manager - Serbia