No, you cannot exchange Cypriot pounds as they have been replaced by the euro.
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Unfortunately, you cannot exchange Cypriot pounds as they have been replaced by the euro. As of January 1, 2008, Cyprus officially adopted the euro as its national currency, replacing the Cypriot pound. The Central Bank of Cyprus provided a three-month grace period ending on February 29, 2008, during which Cypriot pounds could be exchanged for euros at banks and exchange offices.
According to the Central Bank of Cyprus, “The exchange of Cypriot pounds with euro as legal tender will be possible indefinitely at the Central Bank of Cyprus.”
However, there are some notable exceptions. Cypriot pounds issued before 1960 can be exchanged at the Central Bank of Cyprus, as they may be of numismatic value. Also, if you happen to have any Cypriot pound banknotes as part of a collection, they may have some value to collectors.
In summary, while it’s not possible to exchange Cypriot pounds, there are some exceptions to keep in mind. As Sir Winston Churchill once said, “If you have ten thousand regulations, you destroy all respect for the law.”
Here is a table comparing the Cypriot pound to the euro:
| Currency | Cyprus Pound | Euro |
|---|---|---|
| ISO code | CYP | EUR |
| Symbol | £ | € |
| Subunit | Cent | Cent |
| Banknotes | £5, £10, £20, £50 | €5, €10, €20, €50, €100, €200, €500 |
| Coins | £1, £2, £5, 1c, 2c, 5c, 10c, 20c, 50c | 1c, 2c, 5c, 10c, 20c, 50c, €1, €2 |
| Central bank | Central Bank of Cyprus | European Central Bank |
| Exchange rate | 1 EUR = 0.585274 CYP | 1 CYP = 1.708969 EUR |
It’s worth noting that the exchange rate between the Cypriot pound and the euro was fixed at 1 EUR = 0.585274 CYP prior to the adoption of the euro.
A visual response to the word “Can I still exchange Cypriot pounds?”
The video discusses the currency exchange rate between the US dollar and the Cyprus pound before the adoption of the Euro. One Cyprus pound was equal to $1.86 USD, while five Cypriot pounds equaled $9.33 USD. One US dollar was equivalent to 0.53 Cypriot pounds, while five USD was equal to 2.67 Cypriot pounds. However, the current exchange rate between the two currencies is not covered in the video.
Here are some more answers to your question
Exchange Cypriot banknotes for cash today. And since Cyprus has now changed to the Euro you can’t spend your Cyprus Pounds in the country or exchange them at any banks in the UK. However, we’ll exchange Cyprus Pound notes and Cyprus banknotes for cash.