Money & duty free for Cyprus

Exchange rates:

Euro
C$1 = €0.75
£1 = €1.21
US$1 = €0.72

Currency & Money

Currency information

The currency in the Republic of Cyprus is the Euro (EUR; symbol €) = 100 cents. Notes are in denominations of €500, 200, 100, 50, 20, 10 and 5. Coins are in denominations of €2 and 1, and 50, 20, 10, 5, 2 and 1 cents. The currency used in north Cyprus is the Turkish Lira (TL; symbol ₺ ) = 100 kuruş. Notes are in denominations of ₺200, 100, 50, 20, 10 and 5. Coins are in denominations of ₺1, and 50, 25, 10, 5 and 1 kuruş. Euros, Pound Sterling and US dollars are generally accepted in the north.

Credit cards

All major credit cards, such as Visa, MasterCard, Diners Club and American Express, are accepted at larger restaurants and shops, and in hotels. Smaller shops, such as those in villages, and rural tavernas are unlikely to accept credit cards. Entry to museums and tourist attractions are payable in cash. As of early 2013 credit and debit cards may be less accepted, due to ongoing capital controls imposed on banks.

ATM

There are reliable ATMs in main towns and tourist areas. As of early 2013, withdrawals from Cypriot banks are limited due to the ongoing capital controls imposed on banks throughout the country. Carrying cash, rather than relying on cards, is recommended.

Travellers cheques

Cheques may be cashed in all banks. To avoid additional exchange rate charges, travellers are advised to take traveller's cheques in Euros.

Banking hours

South Cyprus: Mon-Fri 0815-1330. North Cyprus: Mon-Fri 0800-1200 and 1400-1600. Banks are closed on public holidays.

Currency restriction

There are no restrictions on the import or export of local or foreign currency. However, amounts exceeding €10,000 or equivalent must be declared if travelling from or to a country outside the European Union; and amounts over €12,500 or equivalent must be declared if travelling from or to a country within the European Union.

Currency exchange

Non-Cypriot currency can be bought and sold at banks in Nicosia and other large towns in both the south and north.

Cyprus duty free

Cyprus is within the European Union. If you are travelling from the UK, you are entitled to buy fragance, skincare, cosmetics, Champagne, wine, selected spirits, fashion accessories, gifts and souvenirs - all at tax-free equivalent prices. There are no longer any allowance restrictions on these tax-free items.

If you are arriving from a non-EU country, the following goods may be imported into Cyprus by travellers over 17 years of age without incurring customs duty:

• 200 cigarettes or 100 cigarillos or 50 cigars or 250g of tobacco.
• 1L of spirits (over 22% volume) or 2L of fortified wine or sparkling wine.
• 4L of still wine.
• 16L of beer.
• Goods in addition to the above up to the value of €430 (reduced to €175 for travellers under 15 years of age).

Banned imports

Drugs, obscene materials, flick knives and daggers, counterfeit and pirated goods, goods used for illegal hunting of game, and firearms and ammunition.

Restricted goods requiring authorisation include plants, animals and animal products, meat, fish, cheese, honey, precious metals, hunting guns and cartridges, sporting pistols and telecommunications equipment.

Banned exports

All items prohibited from import are also prohibited from export. 

Restricted exports include antiquities and wild flora and fauna.

Edited by Jane Duru
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