Money

1. Currency Exchange

The official currency of Rome is the Euro, which is subdivided into 100 cents, and come in different denominations. A number of banks operate in Rome to provide currency exchange services. Most banks in Rome are open from 8.30 am to 1.30 pm. Visitors can also exchange money from hotels and currency exchange booths. These currency exchange booths can be found at the airport and at the Termini main railway station. Currency exchange machines are also available that remain open for 24 hours. Major credit cards and foreign currencies are also accepted in most of the shops, hotels and restaurants. Apart from the banks, which are definitely the best options, the more reputed and large hotels are considered to give better rates than these currency exchange machines. Italian ATM machines are known as Bancomats. You might be asked to show your passport while exchanging currencies in the banks.

2. What a Dollar Will Buy You

One-liter bottle of mineral water: € 0.45 to 0.8

33cl bottle of beer: € 90 - 1.30

Financial Times newspaper: € 2.80

36-exposure color film: € 4

City-center bus ticket: € 0.77

Adult football ticket: From € 30

Three-course meal with wine/beer: From € 30

Train from Airport to Central station: € 5 one-way.

Taxi from Airport to center: € 70 and up

Center to Airport is cheaper at around € 50-70

3. Telecommunications

The country code of Italy is 39. In order to make calls to Italy from the US, the international prefix 011 must be dialed followed by the country code 39, the city code and then the required phone number. Local phone calls in Italy cost around 10 Euros and most of the public phones accept coins and prepaid phone cards. It is important to remember that even if you are calling within the same city, the area code of the city must be dialed including the 0. For example, while calling within Rome, the city code 06 should be followed by the local number. To make direct international calls, the prefix 00 needs to be dialed followed by the country code, area code and then the phone number. Direct phone calls are charged based on the duration of the call. You can also avail of the reduced rates applied from Monday to Saturday between 11 pm to 8 am and for the entire day on Sundays.

The biggest Italian phone company of Italy is the Telecom Italia, offering phone cards by the name of ‘Times' that can be used for international calling. These cards are available in different denominations of 5 euro ($5.75), 10 Euro ($ 11.50) and 25 Euro ($28.75). You do not need to insert the card in any machine but just need to dial 4748 followed by *2 for detailed instructions in English. Euro coins, phone cards and tokens are accepted by public telephones and are sold in post offices and news stands. International credit cards are also accepted by many public phones.

4. Cab Fares

From Termini to Vatican: 10 euros.

From FCO to Rome: 50 Euros during the day and almost double at night.

It should be noted that cab fares increase drastically at night (After 10 pm).

5. Currency Exchange Rates

1 Euro = 1. 27 USD

1 USD = 0.78 EUR

6. Taxes

A value added tax (VAT) is imposed on most services and goods in Italy. The VAT in Italy is known as the IVA. The IVA is refunded to the Non-European citizens provided they spend 150 Euros ($ 172.50) in one store. In order to claim a refund, the visitors need to request for the invoice from the concerned shop and get it stamped by the Customs office at the airport before departing. Tourists can also look out for ‘tax free' shops that display the ‘tax free' stickers on their windows.

Tourists are mostly affected by the tax imposed on the rates of the hotels starting from 9% in first and second-class hotels and rising up to 20% in deluxe hotels.

A municipal tax is also imposed on commercial real estates, which is charged on the basis of the value of the asset as estimated by the tax authorities. Municipal taxes vary from 0.4% to 0.7%.

7. Tipping

Although tipping is not mandatory in Rome, it is up to the visitors' discretion whether they want to tip based on the service quality of the restaurant. Usually, an amount ranging from 5% to 10% of the restaurant bill is considered ideal for tipping. Cover charges and gratuities are also included in the bills of some restaurants. A 15% service charge is also included in the bills upon which this 5 to 10% of tipping is considered to be customary. In case the service charge is not included in the bill, the menu card will show ‘servicio non compreso' and thus you would need to add another 15% to the bill.

A 15% tip is also required in case you are sitting at a table and having coffee. Prices of coffee differ depending on whether you are standing at a bar or taking a table.

Other tipping rates include

Airport skycap/porter: 5 euros per bag

Taxis: 10 percent of the fare

Hotel bell desk: 5 euros per bag

Hotel housekeeping: 1 euro per night

Hotel room service: 15 %

Hair care/personal services: 10 to 15 %