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Money
Currency: Cyprus Pound (C£) = 100 cents. Notes are in denominations of C£20, 10, 5 and 1. Coins are in denominations of 50, 20, 10, 5, 2 and 1 cents.
Currency exchange: Visitors wishing to obtain non-Cypriot currency at Cypriot banks for business purposes are advised that this is only possible by prior arrangement. ATMs operate 24 hours in main towns and tourist areas.
Credit & debit cards: All major credit cards are accepted at most places. Check with your credit or debit card company for details of merchant acceptability and other services which may be available.
Travellers cheques: May be cashed in all banks. To avoid additional exchange rate charges, travellers are advised to take travellers cheques in Pounds Sterling or Cyprus Pounds.
Currency restrictions: The import of local currency is unrestricted, subject to declaration; foreign currency for amounts over US$1000 (or the equivalent in other currency) must be declared. The export of local and foreign currency is limited to the amount declared on arrival. Local currency withdrawn from Cypriot banks may be exported provided a holding certificate is obtained by the bank.
Exchange rate indicators
The following figures are included as a guide to the movements of the Cyprus Pound against Sterling and the US Dollar:
| Date | May ’02 | Aug ’02 | Nov ’02 | Feb ’03 | | £1.00= | 0.91 | 0.91 | 0.90 | 0.85 | | $1.00= | 0.63 | 0.59 | 0.57 | 0.54 |
Banking hours: Generally Mon-Fri 0815-1230 in June, July and August; Mon-Fri 0830-1230 and Mon 1515-1645 rest of year. Certain central banks may also open Tues-Fri in the afternoon. Banks in Larnaca and at Pafos International Airport are open all day.
Copyright © 2003 Columbus Publishing Ltd.
Terms and Conditions apply.
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