Friday, September 10, 2021

Money & Shopping in Cyprus

EuropeCyprusMoney & Shopping in Cyprus

Costs

Cyprus has long been a pricey tourist destination. Except for a few agricultural goods, almost else must be imported. The cost of living in Cyprus is similar to that of Central Europe, particularly in tourist areas. Examples of prices: A pack of smokes costs €4, a cheeseburger costs €5-€7, squids cost around €10, and a steak costs about €20. Away from the tourist hotels and beaches, costs are considerably more reasonable.

Currency

Cyprus is a eurozone country. It is one of many European nations that utilize the Euro. All euro banknotes and coins are legal tender across the EU.

One euro is made up of 100 cents.

The euro’s official sign is €, and its ISO code is EUR. The cent does not have an official symbol.

  • Banknotes: Euro banknotes are designed the same way in all nations.
  • Normal coins: All eurozone nations issue coins with a unique national design on one side and a standard common design on the other. Coins, regardless of design, may be used in any eurozone nation (e.g. a one-euro coin from Finland can be used in Portugal).
  • Commemorative two euro coins: These vary from regular two euro coins solely on their “national” side and are freely circulated as legal currency. Each nation may make a specific number as part of their regular coin manufacturing, and “European-wide” two euro coins are sometimes minted to mark exceptional occasions (e.g. the anniversary of important treaties).
  • Other commemorative coins include: Commemorative coins of larger denominations (e.g., ten euros or more) are considerably uncommon, feature completely unique designs, and often contain significant quantities of gold, silver, or platinum. While they are legally legal currency at face value, their material or collector value is typically considerably greater, and as a result, they are unlikely to be in real circulation.

If you have some old Cypriot pounds hanging around, the Central Bank of Cyprus in Nicosia will exchange them for €1 at a rate of CYP 0.585274.

The Turkish lira is used in Northern Cyprus (TRY). Euros are usually accepted in tourist areas, although at the disadvantageous rate of €1 purchasing 2 TRY rather than 2.4 TRY. There are also a lot of ATMs in the north.

Things to buy

  • Cypriot wine, particularly the famous local type known as Commandaria, is robust, sweet, and reminiscent of Porto wine.
  • Lacework of the most complex kind – from the hamlet of Lefkara.
  • Zivania is a powerful spirit-based alcoholic beverage.
  • Filfar is a traditional orange liqueur from Cyprus.
  • Shoes and handbags made of leather
  • Jewellery