What currency to fly to Cyprus with? Prices in Cyprus. How much money to take with you on vacation and how to save? What was the currency in Cyprus before the euro?

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).

Travelers going on a tourist trip to the fabulous and mysterious Cyprus, in addition to searching for places to stay and drawing up a cultural program, also think about more pressing issues. This island has its own culture and customs, which it would be better to know about in advance. You should also clearly understand what currency is in Cyprus so that you can make purchases with minimal losses. It should immediately be noted that the island is divided into 2 parts - Greek (southern) and Turkish (northern). And although tourists can move from one to another quite freely, life in one and the other is quite different.

What kind of money is best to take with you?

Since 2008, Cyprus has officially introduced the euro as its main currency. Therefore, when going on a trip to this country, it is enough to have enough of them with you. As in any other civilized state, plastic cards are accepted for payment in shops, restaurants and other public places. They, in turn, can be opened in any currency; if it differs from the euro, then a conversion will simply occur.

Neither Russian rubles nor other money from the countries of the former USSR are accepted here, even at special points and banks, so there is no point in taking them with you. It is also unlikely that anyone will accept American dollars as payment in the store or on the market, but they will definitely be exchanged in banks, so having this money with you, the tourist will definitely not be lost. In the north of the island you can pay in Turkish lira.

What currency was in Cyprus before?

Before joining the European Union, they had their own banknotes and coins. A pound was considered to be made up of 100 cents. At the same time, many shops (especially in the northern part of the island) willingly accepted Turkish lira and euros. Therefore, to the question: “What currency should I pay in Cyprus?” there was no single correct answer. The one that was available.

Modern monetary policy of the island

Unfortunately, many tourists do not know exactly what currency is in Cyprus and think that pounds are still the main currency here and therefore try to purchase them in advance in the required quantity. In fact, the population, of course, still has banknotes and coins, but now they can only be used as a souvenir. In the territory occupied by the Turks (northern part of the island), the lira is still in circulation. Therefore, having it in stock, you can have dinner, pay for the purchase of souvenirs or groceries without any problems. True, tourists usually visit the Greek part. So the correct answer to the question: “What is the currency in Cyprus?” - still the euro. The banknotes accepted here are the same as in other countries of the Commonwealth. It is better to carry out exchange transactions in banks rather than in hotels or other points. Otherwise, you can significantly lose on the course.

Shopping

In addition to the usual tourist routes with sightseeing and relaxing on the beach, there are other, no less exciting activities. One of them is shopping. Before you start, you need to decide what is best to bring from this country, and what the currency is in Cyprus. 2013, as well as the previous ones, was sunny and fruitful here. Therefore, it is worth trying the local wine (especially the sweet one) for which the island is famous. Lace, silver, gold and ceramics are often brought from here as souvenirs. And Russian tourists even manage to organize shopping tours to purchase fur products. When going on such a trip, you need to understand what currency is in Cyprus (as mentioned earlier, it is the euro) and take a sufficient amount with you.

Many people prefer to purchase jewelry and fur coats here due to the sophistication of the products, unique design and consistent quality.

From 1879 until 2007, the currency of Cyprus was the Cypriot pound. In the process of integration into the European Union, on January 1, 2008, the Republic of Cyprus entered the eurozone. Currently in use are banknotes from 5 to 500 euros and coins from 1 cent to 2 euros.

Which currency in Cyprus is most convenient for tourists in 2018? Given the focus of the Cypriot economy on tourism, exchanging any currency at a bank branch or exchange office will not be difficult. But still, planning to visit the island, It’s more profitable to transfer funds into euros at home in advance.

Small retail outlets often have problems with small bills and coins, so it is preferable to keep at least part of the funds in banknotes with a denomination of less than 100 euros.

Currency exchange and cashless payments in Cyprus

Foreign exchange transactions are carried out by banks, private exchange offices, mail, and hotels. Usually the bank rate is more favorable, but private points charge less commission. Therefore, it is more convenient to change small amounts from private traders.

There are exchange offices in, but given the unfavorable exchange rate, it is better to use their services in exceptional cases. Some exchangers accept Russian rubles, but the exchange rate is much worse than in Russia. In any case, when planning to use exchange services, check the amount of the commission, since it varies greatly from place to place.

If you can simply write on paper the quantity, the name of the currency, and the employee, also in writing, will indicate the amount that he will issue directly to your hands. You can cash traveler's checks in large shopping centers, restaurants, etc. This operation costs from 1.2 to 6 €.

Banking institutions in Cyprus operate on a five-day schedule, until 13:00, exchange offices - until 20:00. There are 24-hour ATMs, but they come with significant fees. In most cases, you can do without exchanging at all - cards are accepted for payment almost anywhere Visa And MasterCard. In this case, the use American Express very limited.

If you expect to pay for goods and services with a bank card, you need to check in advance at your branch or check immediately upon arrival which plastic card and which currency in Cyprus are more advantageously converted into euros when making purchases.

Based on personal preferences and the above information, the final decision is made - with what currency to travel to Cyprus, and also - to use cash, non-cash money or traveler's checks.

For significant purchase amounts, remember that the amount VAT for different groups of goods ranges from 15 to 21%. Not every store can issue a check that is accepted at customs. Refund procedure at the airport ( Tax Free) takes considerable time, which must be taken into account by arriving at the flight in advance.

What is the currency in Northern Cyprus

If you plan to visit a part of the island that has been under Turkish control since 1974, it is important to clarify which currency will be more convenient for payments. The complex political situation between the southern (Greek) and northern (Turkish) territories is constantly changing.

Both sides hope for the speedy unification of the two parts into a single state. But in 2018, in Northern Cyprus it is still officially in circulation Turkish lira. Euros or dollars are also sometimes accepted for payment.

When planning to cross the demarcation line between two parts of the island, it is necessary to consult about the rules for transporting cash. The maximum possible amount may be limited within limits that are quite relevant for tourist trips. Banks in Northern Cyprus are open until 17:00, and some exchange offices are open until 22:00.

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).

Conventionally, Cyprus is divided into two parts – the northern Turkish part and the southern Greek part. Despite the fact that, in fact, the Turkish part is recognized by only one country (Turkey), this creates some difficulties and nuances in financial terms.

What is the currency in Cyprus?

The southern territory of Cyprus, where the bulk of tourists come to relax, officially switched to the euro in 2008, while in the northern territory the Turkish lira is still used.

In northern Cyprus, you can pay in dollars, pounds or euros, but you will receive change in Turkish lira, which will then have to be exchanged at a rate that is not the most favorable. By the way, you can officially bring only 500 euros in cash into Turkish territory; the rest of the amount may be confiscated by customs. This rule was introduced in 2013 in connection with the Cyprus crisis. Therefore, it is better to have most of the money on the card and pay with it, and use cash for small expenses.

What currency should I take with me?

Exchanging rubles in Cyprus is not an easy task and it is better not to count on them in the first place. Banks here are open approximately from 8.00 to 13.00 and during peak season from 15.00 to 16.00. It is not surprising that with such a schedule there is always a huge queue. In addition to banks, money can be exchanged at private exchange offices. But if on the Turkish part of the island there is no commission for exchange and the exchange rate will be equal to the bank rate, then on Greek territory the minimum commission will be 3 euros (and sometimes much more), and the rate in banks is always more profitable than in private exchange offices. The indisputable advantage of such points is that they are usually open until 20.00, or even until 22.00.

In Cyprus, the majority of holidaymakers are British, Germans and Greeks, so cards are accepted for payment almost everywhere. Therefore, it is usually recommended to store the part of expenses that is planned for shopping in stores and going to restaurants on the card, and the part that is set aside for the mandatory excursion program and pocket expenses to have in cash in euros. The fee for withdrawing money from ATMs in Cyprus ranges from 1 to 3 percent, which is generally tolerable if the withdrawal amount does not exceed 500 euros.

About taxes

A standard tax (15% + 5% for luxury goods) has been added to most goods sold in Cyprus. As in most countries, tourists can reclaim these taxes. To do this, you need to look for stores marked Tax-free. When purchasing, you must present your passport and ask the store employees to issue a receipt, which will indicate the price of the product and the amount of tax.

How much to take with you

Of course, it is very difficult to say how much money you should take with you to Cyprus, because everyone has their own needs and views on vacation. In general terms, the price tags look like this:

  • 1-1.5 euros for bus travel. Taxi fares increase to 10 euros.
  • A cocktail at a bar will cost 6-8 euros. A full lunch in a restaurant (relatively inexpensive, not located on the coast) - from 30 euros per person. In addition, you will have to spend money on tips (5% of the order amount or more).
  • Prices in the supermarket: milk from 1.25 euros per liter, chicken - 3.5 per kilo, tea - from 1.3 per small package.
  • In addition, do not forget about souvenirs and excursions. Their prices usually vary greatly.

You can learn more about prices and how much money to take with you to Cyprus by reading our article

 

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