This is a foreign exchange guide to Cyprus, the Euro currency plus EUR transfers and travel tips.
In this Cyprus currency guide we take a look at :
- Euro info - general info about the Euro
- Euro in the markets - recent EUR moves and predictions from the FX markets
- Travelling in Cyprus - currency & money saving tips
- Buying Euro cash online - travel money for Cyprus
- Sending money to Cyprus - save on Euro bank transfers to Cyprus
- Euro exchange rates - latest & historic exchange rates.
- EUR News - the latest Euro related articles from our blog.
Euro (EUR) general currency information
What is the Euro currency code and symbol?
The three letter currency code for the Euro is EUR and the symbol is €.
Which countries use the Euro?
It is the domestic currency in Eurozone, Aaland Islands, Andorra, Austria, Belgium, Cyprus, Estonia, Finland, France, French Guinea, French Southern Territories, Germany, Greece, Guadeloupe, Vatican City, Ireland, Italy, Luxembourg, Malta, Martinique, Mayotte, Monaco, Montenegro, Netherlands, Portugal, Reunion, Saint Barthélemy, Saint Martin, Saint Pierre And Miquelon, San Marino, Slovakia, Slovenia and Spain.
The euro (ISO: EUR) is involved in slightly more than 30% of all foreign exchange deals, and as such, is the world’s second most traded currency, behind the US dollar.
The euro is the currency of the eurozone (officially called the ‘euro area’), which consists of 19 of the 28 member states of the European Union, and is used by almost 350 million Europeans. It was introduced in January 1999.
Of all the thousands of exchange rates that exist in the world, the euro-to-US dollar exchange rate is the most actively traded, or most ‘liquid’.
Since its introduction, the euro’s lowest value against the dollar came in October 2000 when EUR/USD hit lows of 0.8231. The currency was strongest in July 2008, shortly before the worst stage of the 2007-2009 financial crisis, when EUR/USD reached 1.6038.
There are currently more than twenty nations and territories which peg their currencies to the euro, the largest of which is Denmark.
Euro (EUR) in the markets
13-February-19: 2018 was a mixed year for the euro. A 5 percent loss versus the US dollar was offset by a 6 percent gain versus the Australian dollar and small gains against other majors.
Since November, the euro has been remarkably stable against the US dollar, against which it has traded for the most part between $1.125 and $1.15. The euro was quoted towards the low of this range at $1.128 at the time of writing, down 1.5 percent year-to-date.
At the time of writing, euro-pound was 2.5 percent lower on the year at £0.876. Most price action since September has been between £0.865 and £0.91.
The euro is understandably under pressure in early 2019 ahead of Brexit, which more than ever is a source of uncertainty, and on increasing recession risks — Italy slid into recession in February and Germany barely escaped one in the October-December period.
The main euro-supporting factor this year would be an interest rate hike by the ECB, although this is up in the air considering the aforementioned risks.
Forecasts: In February, the head of strategy at BMO Capital Markets predicted a decline in EUR/USD to 1.11 by the end of April. Experts at Natwest predicted a slide in EUR/GBP to £0.85 by mid-year.
The interactive chart below shows the USD to EUR exchange rate for the previous 3 months with rate alerts for days when the exchange rate moved up or down significantly or for 30 day highs and lows.
Travel, Currency and Money saving tips for Cyprus
In ancient mythology, Cyprus is the legendary birthplace of the Greek goddess of love, Aphrodite. In contrast, this third largest island in the mediterranean, has in modern times been dominated by antagonism between the Greek and Turkish Cypriots. Since 1974, when Turkey invaded the north of the island, Cyprus has been divided into Greek Cypriot occupation (southern two-thirds) and Turkish Cypriot occupation (northern third). UN troops patrol the "Green Line" dividing that divides the country. Any entry into the territory of the Republic of Cyprus via any other port or airport in the Turkish-occupied areas of Cyprus is illegal, and travellers doing so may face legal consequences. Therefore you are urged to travel via the recognised ports of entry (Larnaca and Paphos International Airports / seaports of Lemesos (Limassol), Larnaca (Larnaca), Paphos (Paphos) and Latsi.
Politics aside, as a travel destination, Cyprus has a multitude of wondrous sights and sounds to experience. From ancient ruins, beautiful beaches, nature watching for green turtles, scuba diving, and picturesque ports housing food and cafe culture.
Cyprus is an EU member state, and since 2008 the Euro has been the official currency. All banks plus many hotels in Cyprus offer currency exchange services. Major credit cards are widely accepted but always carry some cash for smaller restaurants, cafes, and shops.
There are no restrictions on the import and export of cash or gold if travelling from within the EU. However, transporting of 10,000Euro or more (or the equivalent in another currency) must be declared at customs.
Travel money for Cyprus
Save money and time by Ordering your Euro online from Travelex, you get better rates and can pick up the EUR cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Euro otherwise you may get much worst exchange rates.
Travel Money - Best vs Banks
| Travel Money Providers Ratings & Reviews | Amount EUR(€) | Exchange Rate | Fee USD | Total Cost | Currency Services | Delivery/Collect | Deal Links |
|---|---|---|---|---|---|---|---|
Banks - Average Rate   Average rate from these selected Banks. Click icons to see each bank's individual rate and fee. More▾ | 825.68 EUR 0.07 EUR less | 0.8341 | $10 | 6.39% | Branch | - | |
 Get great travel money rates from Travelex when you order online. More▾ | 818.80 EUR 6.95 EUR less | 0.8188 | 0^ | 7.17% | Online order, Branch pickup, Home delivery | 2-3 days |
Cyprus Trip Checklist
- Compare EUR travel cash rates - probably why you are here!
- Search Hotel deals - Save on your accomodation in Cyprus
- Lonely Planet - world's best travel guide (coupon and deals)
Sending money to Cyprus
When searching around for information on how to get a good exchange rate when sending money to Cyprus you need to start with finding out the latest Euro foreign-transfer exchange rate.
Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save (we make that calculation easy here).
What are the limits on Sending Money to and from Cyprus?
There is an overseas transfer limit of 1 million Euros when transfering money out of Cyprus.
There are no restrictions on the import and export of cash or gold if travelling from within the EU. However, transporting of 10,000Euro or more (or the equivalent in another currency) must be declared at customs.
Get a better deal for foreign transfers to Cyprus
When sending money to Cyprus it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Euro amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted EUR amount will be transfered to the recipient account you specify in Cyprus.
Use our Send to EUR calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Euro deposited into the recipient bank account and less margins and fees kept by the banks!
Foreign Transfers - Best vs Banks
| Foreign Transfer Providers Ratings & Reviews | Receive EUR(€) | Exchange Rate | Fee USD | Total Cost | Transfer Services | Transfer Speed | Deal Links |
|---|---|---|---|---|---|---|---|
  OFX exchange rates are highly competitive for global money transfers, great customer service. ^Zero transfer fees for BestExchangeRates customers. More▾ | 8,725 EUR Best Overall | 0.8725 | 0^ | 1.08% | Bank Transfers - Online & Phone | 1-2 days | |
 Excellent rates and platform. Get local 'Borderless' accounts in GBP, EUR, USD, AUD, & NZD. More▾ | 8,775.02 EUR 50 EUR more | 0.882 | $51 | 0.51% | Bank Transfers - Online | 1-2 days | |
Banks - Average Rate   Average rate from these selected Banks. Click icons to see each bank's individual rate and fee. More▾ | 8,486 EUR 239 EUR less | 0.8536 | 15 | 3.79% | Online, Branch, Bank Transfers | 2-3 days |
Popular EUR cross rates
EUR/USD - Euro to United States Dollar - 10 Year History
| Date | Exchange Rate | Period | Change |
|---|---|---|---|
| 22 Feb 2019 | 1.1341 | Latest | |
| 15 Feb 2019 | 1.1297 | 1 Week | +0.39% |
| 23 Jan 2019 | 1.1387 | 1 Month | -0.4% |
| 26 Aug 2018 | 1.1645 | 6 Months | -2.61% |
| 22 Feb 2018 | 1.2327 | 1 Year | -8% |
| 22 Feb 2017 | 1.0551 | 2 Years | +7.49% |
| 23 Feb 2014 | 1.3738 | 5 Years | -17.45% |
| 24 Feb 2009 | 1.2801 | 10 Years | -11.41% |
EUR/GBP - Euro to British Pound Sterling - 10 Year History
| Date | Exchange Rate | Period | Change |
|---|---|---|---|
| 22 Feb 2019 | 0.8686 | Latest | |
| 15 Feb 2019 | 0.8762 | 1 Week | -0.87% |
| 23 Jan 2019 | 0.8704 | 1 Month | -0.21% |
| 26 Aug 2018 | 0.9056 | 6 Months | -4.09% |
| 22 Feb 2018 | 0.8836 | 1 Year | -1.7% |
| 22 Feb 2017 | 0.8473 | 2 Years | +2.51% |
| 23 Feb 2014 | 0.8260 | 5 Years | +5.16% |
| 24 Feb 2009 | 0.8842 | 10 Years | -1.76% |
EUR/JPY - Euro to Japanese Yen - 10 Year History
| Date | Exchange Rate | Period | Change |
|---|---|---|---|
| 22 Feb 2019 | 125.5422 | Latest | |
| 15 Feb 2019 | 124.8204 | 1 Week | +0.58% |
| 23 Jan 2019 | 124.6824 | 1 Month | +0.69% |
| 26 Aug 2018 | 129.6024 | 6 Months | -3.13% |
| 22 Feb 2018 | 131.6950 | 1 Year | -4.67% |
| 22 Feb 2017 | 119.6656 | 2 Years | +4.91% |
| 23 Feb 2014 | 140.8679 | 5 Years | -10.88% |
| 24 Feb 2009 | 123.4515 | 10 Years | +1.69% |
EUR/AUD - Euro to Australian Dollar - 10 Year History
| Date | Exchange Rate | Period | Change |
|---|---|---|---|
| 22 Feb 2019 | 1.5887 | Latest | |
| 15 Feb 2019 | 1.5808 | 1 Week | +0.5% |
| 23 Jan 2019 | 1.5932 | 1 Month | -0.28% |
| 26 Aug 2018 | 1.5860 | 6 Months | +0.17% |
| 22 Feb 2018 | 1.5726 | 1 Year | +1.02% |
| 22 Feb 2017 | 1.3710 | 2 Years | +15.88% |
| 23 Feb 2014 | 1.5322 | 5 Years | +3.69% |
| 24 Feb 2009 | 1.9810 | 10 Years | -19.8% |
EUR/CAD - Euro to Canadian Dollar - 10 Year History
| Date | Exchange Rate | Period | Change |
|---|---|---|---|
| 22 Feb 2019 | 1.4953 | Latest | |
| 15 Feb 2019 | 1.4963 | 1 Week | -0.07% |
| 23 Jan 2019 | 1.5195 | 1 Month | -1.59% |
| 26 Aug 2018 | 1.5151 | 6 Months | -1.31% |
| 22 Feb 2018 | 1.5673 | 1 Year | -4.59% |
| 22 Feb 2017 | 1.3890 | 2 Years | +7.65% |
| 23 Feb 2014 | 1.5260 | 5 Years | -2.01% |
| 24 Feb 2009 | 1.5966 | 10 Years | -6.34% |
