The cost of living is much the same in Venice as in other parts of Italy. For instance a one liter bottle of mineral water will cost you $2.14 US dollars or EUR 1.50, a 33cl bottle of beer - $2.86 or EUR 2, and a three course meal with wine - $26.17 or EUR 19. The Euro is the official currency of Italy. You can exchange your currency at any Venetian bank and find out the rate exchanges also.