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Currency / Banking Hours / Credit Cards

Currency - Exchange Rates
The currency of the Republic is the Cyprus pound, which is divided into 100 cents.
Notes and coins currently in circulation are as follows:
Banknotes: 20, 10, 5, 1 pound.
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 the major traded foreign currencies while the Central Bank quotes daily the Cyprus pound vis-a-vis the EURO, the U.S. dollar, the Pound Sterling and other currencies.

For up to date Exchange rates please go to the Website of the Central Bank of Cyprus

Commercial banks in Cyprus offer a wide range of banking services in Cyprus pounds, as well as in foreign currencies, and have correspondents in most major cities around the world. They are also full members of the Society for Worldwide Interbank Financial Telecommunication (SWIFT). Commercial banking is based on UK banking law and practice and commercial banks are supervised by the Central Bank of Cyprus.

In addition to supervising commercial banks, the Central Bank has the following duties and responsibilities:

1. It formulates and implements monetary policy
2. It implements exchange rate policy in consultation with the Council of Ministers.
3. It manages and administers the international reserves of the Republic
4. It promotes the smooth operation of payments and settlement systems
5. It acts as a banker and financial agent of the Government

Banking hours for the public

Monday-Friday 08:30 - 13:00
Monday 15:15 - 16:45

October to April
Monday-Friday 08:30 - 13:00
Monday 15:15 - 16:45

May to August
Monday-Friday 08:15 - 13:00

Banks are closed at weekends and on public holidays.

Banks at Larnaka and Pafos International Airports provide exchange bureaux services on a 24-hour basis. Similar facilities are also available at Lemesos harbour.

There are many Automated Teller Machines (ATMs) outside most branches of banks in all towns and in the main tourist resorts of Agia Napa and Paralimni.

Hotels, large shops and restaurants normally accept credit cards and traveller's cheques. Banknotes of major foreign currencies are also acceptable. Rates of exchange are published daily in the local press and are broadcast through the media. Further information of Cyprus's banking system is available at the Central Bank's website www.centralbank.gov.cy or the website of commercial banks.

Credit Cards
Visitors in possession of any of the following international credit cards may contact the appropriate bank for the withdrawal of cash.

VISA CARD: Bank of Cyprus Ltd., Cyprus Popular Bank Ltd., Hellenic Bank, Alpha Bank Limited, National Bank of Greece, Arab Bank, Commercial Bank and Co-Op branches.


MASTERCARD: Bank of Cyprus Ltd., Cyprus Popular Bank Ltd., National Bank of Greece, Hellenic Bank, Alpha Bank and Co-Op branches.

AMERICAN EXPRESS: Cyprus Popular Bank Ltd.

More than 15.000 shops, restaurants and hotels accept at least one of the above Credit Cards. Establishments with P.O.S. accept also VISA ELECTRON and MAESTRO. Usually the Card symbol is displayed in the shop window or at the reception.
Eurocheques and travellers cheques are also accepted by all banks, shops, restaurants etc.

In case someone loses his credit card, he can call JCC Payment Systems Ltd.,
on +357 22 86 81 00 and at the same time contact his bank either in Cyprus or in his country.

For further information please apply directly to:

JCC Payment Systems Ltd.,
Stasikratous 16, P.O.Box 21043, CY 1500 Lefkosia
Tel : +357 22 86 81 00 (24 hours service)
Fax: +357 22 86 85 91, 22 86 81 11
Makarios Ave. & Vyronos Str.
P. Lordos Center, Block B'
1st Floor, Office 106
(Opposite Limassol District Court)
3105 Limassol - Cyprus
Postal address:
P.O.BOX 58413
3734 Limassol, Cyprus
Tel.: +357 25 367 857
        +357 25 749 890
Fax:  +357 25 345 075
E-mail: phch_law@spidernet.com.cy