Cyprus pounds 'can still be exchanged'

Thursday January 10th , 2008

Visitors to Cyprus will still be able to exchange any outstanding notes and coins, according to an expert.

Richard Green, travel expert at the Sunday Times, stated that people who still had unused Cyprus pounds would be allowed to convert them into euros during the next six months.

In addition, he said that transactions could be made free of charge at any of the island's banks, although exchanges will only be possible at its central bank after June 30th.

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

Cyprus switched from pounds to euros on New Year's Day, taking the overall number of countries in the single currency up to 15.

Speaking at the time of the transition, European commission president Jose Manuel Barroso said its accession was a "momentous" step for the Mediterranean island and one which would see it significantly increase its international standing.