Currency of Cyprus: everything a tourist needs to know about finances. What is the currency of Cyprus? What is the currency in Cyprus, euro?

“What currency should I take to Cyprus?” and “Is it profitable to take dollars to Cyprus?” - questions that are often asked by tourists planning a trip to Cyprus.

Currency in Cyprus

Until 2008, the official currency of Cyprus was the Cypriot pound, which at that time was worth more than its British namesake.

As the Cypriots themselves say, the country's transition to the euro has led to a significant increase in the cost of most products and services.

Currently, Cyprus is part of the eurozone, and payments are only possible in euros.

Therefore, planning costs and purchasing cash currency, if you are going to use this type of payment, must be carried out in this currency.

Now let’s touch on the question: “Is it worth bringing dollars to Cyprus?” If you plan to spend time exclusively in the Republic of Cyprus (Southern Cyprus), then you will not need dollars, since, as in any other country, there will be losses on currency exchange. But if you want to go on an excursion to Israel, then it is better to operate in dollars, since this tourist destination was initially focused on the use of US currency.

How to change currency in Cyprus?

Currency exchange in Cyprus can be done in banks and exchange offices.

The most favorable rate for exchange, naturally, will be at the bank, however, bank branches are not always located in close proximity to hotels and, in addition, are open only from 08:30 to 13:30 with days off on Saturday and Sunday.

In major cities, currency can be exchanged at some ATMs that operate 24 hours a day, but please note that, unlike in Russia, ATMs in Cyprus are not located in hotels, but are usually located in bank branches.

A fairly favorable rate, compared to hotels, is offered by exchange offices, many of which are located in the so-called “periptero” (ΠΕΡΙΠΤΕΡΟ) - kiosks where you can buy souvenirs, essential products, newspapers, sunscreen, etc.

At exchange offices, as a rule, US dollars, British pounds and Russian rubles are exchanged for euros. However, Russian rubles should be exchanged here only as a last resort, since the ruble to euro exchange rate exceeds the Russian one by approximately 10-20%, depending on the exchange office.

The least favorable rate, as in any country, is offered by hotels. However, here you will be spared the need to look for a bank or exchange office.

What is better to take to Cyprus: a bank card or cash?

In most resorts, bank cards are accepted almost everywhere: in restaurants and hotels, shops and souvenir shops.

Slight difficulties may arise when purchasing cigarettes and telephone cards, since the owners periptero After the crisis, they are reluctant to accept bank cards as payment for these goods, explaining this by the low markup, at which all profits from the sale are “eaten up” by bank interest for the service.

If you are planning a trip to the mountains or to one of the festivals, it is wise to take cash with you, since most Cypriot villages do not have ATMs, and many taverns and shops do not accept bank cards.

In addition, by using cash, which currently has some value in Cyprus, you can get a good discount on your purchase.

Just in case

I would also like to mention instant transfer systems. It may happen that your card is blocked for some reason, and you do not have cash.

What to do if you are left in a foreign country without money? In this case, you can use instant transfer systems by turning to friends and relatives in Russia for help.

Many urgent transfer systems operate in Cyprus, for example, the world famous Western Union And Unistream, which will make it possible to get out of an unpleasant situation and receive money within 20 minutes after it is sent from Russia.

However, it is worth keeping in mind that in tourist areas it is quite problematic to receive an amount over 500 euros at a time, since these systems, as a rule, are also located in kiosks, the owners of which simply may not have the necessary amount of cash.

Conclusion

If you want your trip to be as comfortable and financially secure as possible, we recommend taking several bank cards (in case one of them is blocked by a Russian bank, since in recent years such troubles have happened not only in Cyprus, but also in other European countries ) and a small part of cash in euros (so as not to lose money on commissions when withdrawing cash from ATMs in Cyprus).

The official currency of Cyprus is the euro.

In 2008, the country abandoned the national pound of Cyprus (CYP) in favor of the European currency, but old banknotes can sometimes be found in circulation. Officially, they can be exchanged for euros until the end of 2017, but you definitely won’t be able to get change in Cypriot coins (they went out of circulation at the end of 2009). Previously, the exchange rate of the Cypriot pound to the dollar was approximately 1:2 (2 dollars per 1 pound), and to the euro 1:1.7 (1.7 euros per 1 pound). The current Cyprus currency exchange rate can be found on the official website of the Bank of Cyprus (Russian version is available).

What currency to take with you to Cyprus

As with any other member country of the Schengen agreement - the euro. Dollars are also popular in Cyprus, but you can’t pay with them everywhere. Be prepared that you will lose big when exchanging dollars for euros. To avoid getting into an unpleasant situation, we recommend that you always carry euros with you, preferably in small bills (in denominations of 1-5 euros).

Cashless payments

There are ATMs on the island at every turn (in banks, hotels, shops, post offices), so taking a lot of cash to Cyprus is not the best idea.

You can pay with Visa or Mastercard almost everywhere, but difficulties may arise with American Express.

Buying currency in Cyprus

Experienced tourists exchange rubles for euros in advance, because the exchange rate at airports and exchange offices is unfavorable, and there are often queues. If you still need to buy currency, it is better to do it in Cyprus banks. You will have to pay a commission to carry out the operation (usually no more than 1-2% of the amount exchanged), but you can be sure of the authenticity of the banknotes. To avoid unpleasant surprises, we recommend choosing a bank with a fixed commission (often in Cyprus it depends on the amount exchanged).

A pleasant bonus for Russians will be the presence of Russian banks on the island (for example, Promsvyazbank and Privatbank).

A hospitable island in the Mediterranean Sea, Cyprus, is considered one of the most popular holiday destinations. Many of our compatriots, intending to spend their holidays there, are interested in how much money to take to Cyprus. And for good reason: it is known that prices in the island state are not at all low. We will try to help you in this matter.

What currency should I take to Cyprus?

The choice of currency directly depends on which part of the island you will be vacationing in. Previously, the national currency of Cyprus was the Cypriot pound. And since the southern part of the island became part of the Eurozone in 2008, the euro now dominates here. But the northern part of the island is part of Turkey, so the Turkish lira is used there. In general, you can take out the amount for expenses in dollars, they are also in use. However, the euro is considered the most convenient currency in Cyprus for tourists, since prices for almost all goods and services in both parts of the island are quoted in the EU currency. If we talk about currency exchange in Cyprus, then it is better to do it at the airport or in banks.

How much money is enough for a holiday in Cyprus?

The amount of money you take with you to Cyprus directly depends on how you are going to relax and what to spend it on. So, for example, be sure to take into account meals if they are not fully included in your tour. For example, a luxurious dinner for two in a restaurant will cost 90 euros. But if you walk a little, you can find a cafe with excellent cuisine, where you can eat your fill for 3 times less. Mineral water, by the way, costs from 1-2 euros, and a bottle of local wine costs from 5 to 8 euros. The price of a bottle of beer ranges from 1.5 to 3 euros.

Be sure to take transportation costs into account. Travel by bus will cost 1-2 euros, a taxi requires 0.7-1 euros per kilometer. You can rent a car; daily use costs 35 euros.

When planning, take into account the various costs of your vacation. A sunbed on the beach, for example, will cost 3 euros per day. These can be a variety of excursions, visits to attractions, the price of which ranges from 35 to 250 euros. During excursions there are often additional costs, these also need to be provided for. What kind of tourist will leave from? Their prices also vary: simple ones, such as a refrigerator magnet, cost 2-3 euros. National figures will cost 4-6 euros. For a good bottle of local wine you will have to fork out 8-20 euros.

Almost all tourists note that, in general, for a comfortable holiday in Cyprus you need to count on 50 euros per day per person. True, this calculation does not include such attributes of a luxury vacation as yacht rental (300-500 euros), scooter rental (400-500 euros), relaxation in a water park (30 euros per day).

Cyprus Island- This is a great place to relax for all categories of tourists. Each corner of the island has its own style. For example, young groups who are hungry for nightly entertainment are best off going to the fashionable and modern resort of Ayia Napa, couples in love should go to romantic Protaras, and those who love history and sights are best visiting Paphos, but Limassol and Larnaca will be An excellent choice for a family holiday with children. No one will be bored here, since absolutely everyone, without exception, will find places to visit and entertainment here.

What currency to take to the island of Cyprus

Undoubtedly, any trip to any country is associated with a huge number of various questions. Tourists are interested in the peculiarities of culture and mentality, attractions, national cuisine and much more. But special attention is always paid to money theme. For example, many are interested in the question of what currency is best to take to Cyprus. Until a few years ago, the official currency of Cyprus was the Cypriot pound. Thus, there was no exact answer to the question of what currency to take with you to Cyprus. Since it was necessary to understand which exchange rate would be more favorable, but at the end of the first ten of the 2000s everything changed dramatically.

If you are planning a trip to the southern part of Cyprus, then you should remember that it is part of the eurozone, due to which its national currency is the euro, so it is best to take it with you exactly the euro. The situation is completely different in the northern part of Cyprus, since the national currency of the self-proclaimed republic is the Turkish lira. Therefore, if such currency is left over from previous vacations, you can safely take it with you. In addition, the US dollar and euro are used in Northern Cyprus. There are not many exchange offices here, therefore, it is better to change the required amount immediately, and then not look for an office with the most favorable rate.

As for denominations, it is best to take smaller bills with you on holiday to Cyprus, and not 200 or 500 euros, since I accept them with great reluctance, due to constant problems with change. This will make it much easier to pay for all sorts of small services, such as, for example, transporting luggage, taxis, renting a car, buying souvenirs, visiting restaurants or cafes, excursions and other necessary entertainment. In addition to all this, you will also need coins that can be used to pay for tips, travel on public transport, pay for entrance to the territory of historical attractions, and so on. In the same case, if you can’t decide on the currency, then the easiest way is to take a credit card with you.

By taking a credit card with you, you don’t have to worry about what currency is best to take with you. You can pay by card in almost all retail establishments, restaurants, cafes, and excursion bureaus. But it is also worth noting that for some payments, a commission of around 5-7% of the amount may be debited from the card. There are also places in Cyprus where you cannot pay with a card, for example, in public transport. Therefore, it is advisable to always have cash with you. Bank cards will allow you to solve all payment transactions instantly and without worries. You can also use credit cards at gas stations, even after they are closed, by using a dispenser. We should not forget that the use of loans is more common in Southern Cyprus than in Northern Cyprus. There are quite a lot of ATMs in Cyprus, which are absolutely safe and convenient to use. Today, more banks allow you to access a regular bank account directly from foreign ATMs, although sometimes you still have to use a credit card. Therefore, be that as it may, it is in any case better to transfer some of the money to a credit card before leaving home. ATMs are located in most cities and major towns throughout the Republic of Cyprus. If we talk about Northern Cyprus, then they can only be found in cities such as Northern Nicosia, Famagusta and Kyrenia.

Exchange offices in Cyprus

If you have euros in your wallet, then there is nothing to worry about, for this money you can buy everything here: accommodation, entertainment, shopping, and so on. In the same case, if it was not possible to change the currency, then you can do it at ATMs, exchange offices or hotels; at the post office or at gas stations there are no problems with this in the republic. It is best to do this at the bank, but for this you will need to have your passport with you. In banks, as in other currency exchange offices, you will have to pay a commission. On average, the commission is 1-2% of the total exchange amount. But there are also ATMs where they withdraw 4%. Exchange offices in resort areas are open until 20.00, ATMs are open around the clock. You should be as careful as possible and not change money on the streets or other illegal places, beware of scammers. Also, it should be noted that you should change money for euros at your exchangers before going to the resort, since in Cyprus the exchange rate is slightly lower, and if you have an amount of more than 1000 dollars or euros, it must be declared upon arrival at the airport.

When finding out what currency is in Cyprus, you should clarify which Cyprus you are going to visit. After the Republic of Cyprus joined the European Union, the country switched to the euro, however, at the moment this is not the only monetary unit of the country. The transition from the old currency, which began on the first day of 2008 and was planned to be completed by the end of January 2009, was greatly delayed and was extended until the end of 2017.

History of the currency of the Republic of Cyprus

The predecessor of the euro was the Cypriot pound, also called the lira in the Turkish manner. Introduced back in 1879, it was equal to the pound sterling for a long time and was no less stable. At one time, the Cypriot pound was divided into piastres, then into millies and shillings. They divided the lyre not into the usual hundred parts, but into 200, 1000 and 20 parts, respectively. Cents appeared in 1983, making payment more convenient. The exchange rate between pounds and dollars was 1:2.

In 2004, Cyprus joined the European Union and a few years later began introducing new banknotes. Pounds are practically no longer found, but when looking for an answer to the question of what currency is in Cyprus, you can easily get confused. Now the clear answer is “euro”. These are the best ones to take on the road and pay at any establishment in the country.

Exchange in Cyprus

Rubles, hryvnias and other banknotes of the CIS countries are practically not accepted in the country, and they offer a very low exchange rate, so change your money to euros or dollars before your trip. Upon arrival, dollars or other currencies can be exchanged for euros at banks, exchange offices, hotels, ATMs, post offices and transport stations. The highest rate is in banks and exchange offices at Periptero kiosks, the least profitable is buying euros at a hotel.

In addition to the course, pay attention to the commission. In banks, when exchanging, they will take 1-2 percent of the amount; in ATMs and hotels, the commission reaches 4%. For currency transactions, you must have a passport with you.

In the summer, banks and other government agencies operate on a reduced schedule: from 08:15 to 13:00, some until 13:30. Saturdays and Sundays are always days off. During the low season, which lasts from October to April, the working day begins at 08:30 and ends at 13:00, but on Mondays an afternoon service is added from 15:15 to 16:45. In order not to squeeze into this framework and not overpay for exchange, remember what currency is in Cyprus and immediately take a euro or a card. In extreme cases, traveler's checks are suitable, but few places accept them.

Which is better: cash or payment card

Bank cards of international systems are accepted in most places that may be of interest to a guest of the country: hotels, cafes and restaurants, gas stations and shops. There are no terminals at the main resorts, except in bazaars and small shops, and even in Periptero kiosks they do not always agree to accept non-cash payments.

There are fewer ATMs and terminals further away from major cities, so make sure to stock up on cash. When paying with them, there is a chance to bargain and significantly reduce the price, whereas when paying by card, sellers do not even want to hear about discounts.

In Cyprus, there is a high percentage when withdrawing money from an ATM or for payment transactions, sometimes it reaches 5-7% of the amount. When paying with a card opened in national currency, the money is converted into euros. In this case, the exchange rate can be calculated according to the National Bank, and there may be an additional commission for internal exchange. So, when traveling to this southern country, it is better to take the main amount in euros, in cash, and have a reserve on the card for unplanned expenses and unforeseen circumstances.

Please note that Visa cards are accepted everywhere in Cyprus, Maestro cards are accepted in most establishments, and American Express cards are not accepted at all!

Northern Cyprus: currency for tourists

In this part of the island, the new Turkish lira is in use. In most cases, sellers willingly accept euros, dollars, pounds sterling and some other banknotes. It costs only minor expenses to exchange imported currency for local currency. To do this, contact your bank or exchange office. In northern Cyprus, banks are open until 5 pm, exchange offices are open until 8-10 pm.

If you take a bank card on the road, then choose the Visa or Mastercard payment system; other credit cards may not be accepted. Also keep in mind that you can only pay with a card in some large supermarkets and other tourist sites. ATMs are installed only in the largest cities and there are very few of them.

As a result of searching for an answer to the question of what currency is in Cyprus and what is better to take with you, we can say: it is definitely better to stock up on euros. Unlike many European countries, traveling with bank cards is not very profitable, but it is worth taking them as a reserve.

When making purchases worth more than 50 euros, ask for a Global Refund, this will allow you to get a tax refund of 8.3% of the amount spent. The received receipt must be certified at customs before departure and left in a special box painted yellow.

When calculating how many euros you need to take to Cyprus for your holiday, focus on your needs or use a few tricks to save. For example, if you booked a hotel with only breakfast, then for lunch and dinner go to a city cafe, where the bill will be one and a half to two times less than in the hotel restaurant. When walking, please note that some establishments offer discounts on lunches and dinners at certain times, this will help you spend 10-20% less. Ask about set menus that include multiple dishes.

Don’t hesitate to ask locals or other vacationers for advice, they will tell you where to eat, have fun and shop best. Have a nice holiday!