Currency in Cyprus
Cyprus - an island nation that islocated in the Mediterranean Sea. In 1990, the government application for accession to the European Union was filed, which was approved in May 2004. Accordingly, the base currency is the euro in Cyprus. Until that time, the main currency of the country is the Cyprus pound. Undoubtedly, it should be said about the currency of Cyprus to join the EU.
The Cyprus pound was used as the base currency in Cyprus before the end of 2007. Money in Cyprus appeared in 1879, the inter-bank level, this was the currency symbol CYP.
Prior to 1955, one Cyprus pound was equal to 20Schilling (180 piastres). In the period 1955-1960 the Cypriot currency was linked to the pound sterling. Then came the so-called Mille - decimal monetary system.
And in October 1983 it was equal to 1 pound to 100 cents.
It is said that in the case of Cyprus is constantly interfered with different countries - Greece, Great Britain, Turkey. So in 1973 the northern part of Cyprus was the last to use the currency of the country - the Turkish lira.
As mentioned above, Cyprus is a member ofEU. Prior to joining the European Union in the country turned coins of 1, 2, 5, 10, 20 and 50 cents. In the form of the currency bills in Cyprus applied of 1, 5, 10, 20 and 50 pounds.
Today, money is treated in Cyprusthe form of coins and banknotes. One euro equals 100 cents. Coins indicated in cents, remained unchanged, there were also coins of 1 and 2 euros. Besides turning bills in the country of 5, 10, 20, 50, 100, 200 and 500 euros.
What currency to take to Cyprus
Obviously, the best solution of this issue will be the euro. If for any reason you can not go to the country with this currency, it is possible to exchange directly in Cyprus.
Import of currency is not limited to Cyprus. Limited to a duty-free import of currency from countries outside the European Union.
Currency Exchange in Cyprus
Until 2017 the exchange rate for the pair Cyprus pound / euro fixed - 1 EUR receive 0,585274 CYP.
No big problems to conduct currency exchangeCyprus - it can be done at banks, exchange offices, etc. It should be noted that the Commission for sharing across different institutions. We must look for exchangers with fixed commissions, most often it is 1-2% of the amount. Also in the cities there are ATMs that work with foreign currency, but the exchange of the commission through them can reach 4%
In conclusion, it should be said that it is desirableAvoid bills in denominations of 100 and 200 euros, because often they are counterfeit. In addition, it is necessary to have a stock exchange small denominations, because the stores often do not have the possibility to give change from a large amount.