The currency in Cyprus and how to pay

With so many British connections, plenty of visitors assume Cyprus still uses pounds. It doesn’t. The Republic pays in euros, and the only change comes if you cross to the north. Here’s what the EU and the Spanish foreign ministry say about the currency, cash machines and payments, and what I’d do. For the rest of the practical side, start with the Cyprus travel guide. Overcharging and card tricks are rounded up in Cyprus scams, and what’s worth spending on is in souvenirs from Cyprus.

The euro since 2008

EU member from 2004, euro user from New Year’s Day 2008, the EU confirms. Across the south, where most of the sights are, euros it is, by card or cash.

The cash machine network works well, the Spanish foreign ministry says, but fees may apply. My advice is to withdraw less often and a little more each time, and if a cash machine or shop terminal suggests billing you in sterling, decline and stick with euros, leaving the conversion to your bank. Do carry cash for taxis, because some don’t take cards. Getting from the airport to your hotel is covered in airport transfers in Cyprus.

Cypriot coins

Look at your change and you’ll see Cyprus’s national designs. According to the European Central Bank, the €1 and €2 coins carry a cruciform idol from the Chalcolithic period, around 3000 BC; the Kyrenia ship, a trading vessel from the fourth century BC, is on the 10, 20 and 50-cent coins; and the 1, 2 and 5-cent coins feature the moufflon, the island’s wild sheep. They’re valid across the whole euro area, but not at home, so spend them before you fly.

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How prices compare

There’s no official list of what a coffee or a dinner costs, but Eurostat compares each country’s price levels. In 2024, restaurants and hotels in Cyprus cost 11% less than the EU average, while supermarket food was almost 5% above it. There’s more on stretching your money in cheap eats in Cyprus.

Carrying cash from the UK

Arriving from the UK means entering the EU, and Your Europe, last checked on 21 September 2026, says you must declare 10,000 euros or more in cash, or the equivalent in other currencies, when you enter or leave the EU. Cash includes banknotes and coins, plus some gold coins and bullion. For a holiday you won’t come close, but it’s worth knowing if you’re carrying money for a property or a wedding.

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Turkish lira in the north

Across the Green Line the currency is the Turkish lira. Even so, the Spanish foreign ministry explains that you can pay in euros in most places, so for a day trip there’s no need to change money. It does urge caution with cards, as there have been cases where more was charged than the bill showed. I’d pay cash for small things and check every card payment.

If you head back south with shopping, there are limits. Gov.uk notes the Republic enforces 40 cigarettes per person, and the Green Line rules also cap goods at 260 euros and one litre of alcohol. All the details for crossing are in crossing to northern Cyprus.

VAT

Standard VAT in Cyprus is 19%, according to the European Commission, with reduced rates of 9% and 5% and a super-reduced rate of 3%. It won’t change your holiday, but it helps make sense of prices.

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Gaps in this guide

Tipping has its own page, tipping in Cyprus, as menu prices already include a 10% service charge. Visitors from outside the EU, Britons included, can get VAT back on goods they carry home, which I explain in shopping in Cyprus, and average daily spending is in prices in Cyprus. For passport stamps, roaming and the rest of what EU membership means, read is Cyprus in the EU and Schengen.

If you are staying the night, see the best hotel deals in Nicosia for your dates: the well-placed rooms go fast.