Newspaper issues advice on Cyprus currency

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NEWSPAPER ISSUES ADVICE ON CYPRUS CURRENCY

Thursday, 10 Jan 2008

A national newspaper has published tips for Cyprus holidaymakers in order to overcome confusion surrounding the country's currency changeover.

Newspaper issues advice on Cyprus currency

The Mediterranean island joined the euro on New Year's Day, which prompted readers of the Sunday Times to ask for advice on what to do with their unused pounds.

Richard Green, travel expert at the publication, said that people still had time to convert their money, although he warned that there was a deadline.

He stated that any bank on the island would change pounds into euros until June 30th of this year, after which point only the Central Bank of Cyprus will accept the old currency.

Mr Green commented: "Scouring your sock draws for any leftover Cypriot notes or coins won’t be in vein, as it will still be easy to exchange the old currency for the euro for a little while yet."

He added that for this month only, both the pound and the euro would be in parallel circulation.

Cyprus' entry into the eurozone was recently described as a "momentous step" for the island by Jose Manuel Barroso, the president of the European commission.

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