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Money and costs

Currency
Euro (€)
Exchange Rates
Rates provided by Open Exchange Rates. Last updated September 02, 2015 1:45PM UTC
Daily Costs
Budget (up to)
€60
  • Budget hotel room with shared bathroom: €25–35
  • Excellent markets and supermarkets for self-caterers
  • Check out museums with free entrance, plus free tourist-office-organised walks
Midrange
€60–120
  • Double room in midrange hotel: €60
  • Three-course meal in decent restaurant: €25, plus wine
  • Top museums, galleries and sights: average €5
Top end (more than)
€120
  • Top-end hotel room: €120
  • Fine dining for lunch and dinner: €110
  • Car rental from €3 per day

The unit of currency in Northern Cyprus is the Turkish lira (Turkye Lira; TL). Exchange rates for the new Turkish lira are subject to fluctuations due to a high inflation rate.

Since January 2008, the Republic’s unit of currency has been the euro (€), when one Cypriot pound (CY£) was exchanged at a frozen rate of €1.68.

Banks in Cyprus exchange all major currencies in cash (travellers cheques are becoming increasingly rare). Most shops and hotels in Northern Cyprus accept hard currencies such as UK pounds, US dollars and euros.

Tipping

  • In the North and South, a 10% service charge is sometimes added to a restaurant bill; if not, then a tip of a similar percentage is expected.
  • Taxi drivers and hotel porters always appreciate a small tip.
  • Bargaining is not normally part of the shopping scene in Cyprus, neither in the North nor the South.