The currency of the Republic of Cyprus is the Cyprus pound – CY £, which is divided into 100 cents. Notes and coins currently in circulation are as follows:
- Bank Notes: CY£20, CY£10, CY£ 5, CY£ 1.
- Coins: 1 cent, 2 cents, 5 cents, 10 cents, 20 cents, 50 cents.
The Cyprus Pound is not traded internationally. Commercial Banks quote daily the exchange rates of the Cyprus Pound against all traded foreign currencies while the Central Bank quotes daily the Cyprus Pound vis-a-vis the ECU (European Currency Unit), the U.S. dollar, the Pound Sterling, the Deutsche Mark and the Greek Drachma.
Import of Bank notes
Visitors may import any amount of Cypriot or foreign bank notes. They should declare to customs, on form D. (N.R.), their Cypriot and foreign bank notes for purposes of: deposit with banks in Cyprus, purchase of goods or immovable property, or re-export.
Export of Bank notes
Visitors may export any amount of Cypriot or foreign bank notes they declared on arrival, on form D. (N.R.). They may also export up to the equivalent of USD1.000 in Cypriot or foreign bank notes which they imported, even if they did not declare them on arrival. In addition, visitors may take out with them up to C£100 in Cypriot bank notes. |