CYPRUS

(EUR) Currency News >>

CURRENCY:

Euro - EUR, Symbol €

DENOMINATIONS:

NOTE: €500, 200, 100, 50, 20, 10 and 5.

COIN: €2 and 1, and 50, 20, 10, 5, 2 and 1 cents.

US DOLLAR ACCEPTED?

CREDIT/DEBIT CARDS AND ATMS:

Most major credit cards accepted. ATM machines are widespread in larger towns and tourist resorts.

CURRENCY EXCHANGE:

This is best arranged in advance.

TRAVELLER'S CHEQUES:

These are best in Pounds Sterling and Euros to get the best rates. These can be cashed in all banks.

BANKING HOURS:

Mon-Fri 0815-1330 May-September; Mon-Fri 0830-1330 and 1515-1645 Oct-Apr.

CURRENCY RESTRICTIONS:

Restrictions apply. Import of local currency is permitted to any amount but must be declared on arrival. Export of local currency is permitted up to the amount imported and declared. Import and export of foreign currency is permitted as long as declared on arrival - import must not exceed USD 1000.

COUNTRY OVERVIEW:

Officially known as the Republic of Cyprus, this country is an island in the Mediterranean near Greece, Turkey, Lebanon and Syria. It is the third largest of the Mediterranean islands and is a hugely popular tourist destination. Cyprus became independent from Great Britain in 1960. The capital is Nicosia, and the two official languages are Greek and Turkish. There is a history of conflict between ethnic Turks and Greeks within Cyprus, which rages to this day.

POPULATION:

801,600

ECONOMY:

The GDP per capita in Cyprus is just above the average for the EU - the economy here is prosperous. Cyprus has adopted the Euro since 2008. Elements for the economy include tourism, crude oil and natural gas. The rental property market has grown rapidly thanks to the huge increase in tourism.