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Foreign Exchange Guide to Cyprus

Read this currency guide to Cyprus with money transfer and travel tips.   [USD/EUR=0.8843]

Cyprus
Country Code:
CY
Domestic Currency:
Euro
Symbol - Code:
€ EUR
Telephone Prefix:
+357

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 :

  1. Euro info - general info about the Euro
  2. Euro in the markets - recent EUR moves and predictions from the FX markets
  3. Travelling in Cyprus - currency & money saving tips
  4. Buying Euro cash online - travel money for Cyprus
  5. Sending money to Cyprus - save on Euro bank transfers to Cyprus
  6. Euro exchange rates - latest & historic exchange rates.
  7. 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

The euro is heading higher, experts said in November.

Increasingly, complications over Brexit are seen to be a UK problem; less so for the euro area.

With this in mind, and despite disappointing economic data of late, Citibank is confident of a long-term move in EUR/USD to $1.3, from $1.139 at the time of this report (November-21). “Underpinned by the less accommodative policies of the ECB,” the euro will most likely achieve this target, which represents a 14 percent gain, before the end of 2019, Citi has said.

Relative to the pound, the euro had recovered in the days leading up to this report into the £0.89s, from the mid-£0.86s. With political turmoil in the UK, there is room for the exchange rate to reach £0.92 in the months ahead, a Nordea Markets analyst believes. A return to £0.92 would take EUR/GBP back to levels not seen since September 2017.

For EUR/CHF, which averaged Fr1.137 in the weeks leading up to this report, a 5.5 percent rise to Fr1.2 is due sometime within the next 6-12 months, per analysts at Danske Bank.

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.


USD-EUR 3 Month chart
USD-EUR 3 Month chart
USDEUR currency converter

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.

 

Compare USD to EUR Travel Money Exchange Rates vs the Banks

ProvidersAmount EUR(€)Exchange RateFee USDTotal CostCurrency ServicesDelivery SpeedReviewsDeal Links
Wells Fargo Bank logo
827.90 EUR
Top Provider
0.8448$206.38%Branch pickupn/a
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
827.80 EUR
EUR0.1 less
0.8363$106.39%Branch pickupn/a
U.S. Bank
U.S. Bank logo
827.70 EUR
EUR0.2 less
0.827706.4%Branch pickupn/a
Travelex Online US logo
822.70 EUR
EUR5.2 less
0.82270^6.97%Online order, Home delivery2-3 days
 
Wells Fargo Bank: Travel Money USD→EUR
USD amount:$1,000 USD
Fee:$20 USD (Minimum fee)
Exchange Rate:0.8448 (4.47% from mid-rate)
EUR amount:827.90 EUR
Total Cost:6.38%
Time:12:07 Local
Delivery Speed:n/a
Currency Services:Branch pickup
Rating:
: /5.0
Reviews:
 

Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo

Travel Money USD→EUR
USD amount:$1,000 USD
Fee:$10 USD (1%)
Exchange Rate:0.7738 (12.5% from mid-rate)
EUR amount:827.80 EUR
Total Cost:6.39%
Delivery Speed:n/a
Currency Services:Branch pickup
U.S. Bank: Travel Money USD→EUR
USD amount:$1,000 USD
Fee:0
Exchange Rate:0.8277 (6.4% from mid-rate)
EUR amount:827.70 EUR
Total Cost:6.4%
Time:12:07 Local
Delivery Speed:n/a
Currency Services:Branch pickup
Rating:
: /5.0
Reviews:
Travelex Online US: Travel Money USD→EUR
USD amount:$1,000 USD
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:0.8227 (6.97% from mid-rate)
EUR amount:822.70 EUR
Total Cost:6.97%
Time:
Rate Fetched: Sat Dec 15 2018 10:00:04 GMT+0000 (UTC)
Delivery Speed:2-3 days
Currency Services:Online order, Home delivery
Rating:
 
: 4.3/5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Rates @ 12/15/2018.
Total Cost = Fee + exchange rate margin vs USD/EUR mid-rate: 0.8843
 

Cyprus Trip Checklist    

 
  1. Compare EUR travel cash rates - probably why you are here!
  2. Search Hotel deals - Save on your accomodation in Cyprus
  3. 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 :

  1. Open an account with a BER reviewed FX provider (id docs may be required)
  2. You specify the local or Euro amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. 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!

 

Compare USD to EUR Foreign Transfers vs the Banks

ProvidersAmount EUR(€)Exchange RateFee USDTotal CostTransfer ServicesTransfer SpeedReviewsDeal Links
WorldFirst logo
8,704 EUR
Top Provider
0.870401.57%Online, Bank Transfers1-2 days
 
OFX logo
8,708 EUR
EUR4 more
0.87080^1.53%Online, Bank Transfers1-2 days
 
Wells Fargo Bank logo
8,527.62 EUR
EUR176 less
0.8543183.57%Online, Branch, Bank Transfers2-3 days
HSBC logo
8,521.2 EUR
EUR183 less
0.8534$153.64%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
8469.21 EUR
EUR235 less
0.8519154.23%Online, Branch, Bank Transfers2-3 days
Bank of America
Bank of America logo
8,414.01 EUR
EUR290 less
0.8499$1004.85%Online, Branch, Bank Transfers2-3 days
U.S. Bank
U.S. Bank logo
8,414.01 EUR
EUR290 less
0.8499$1004.85%Online, Branch, Bank Transfers2-3 days
WorldFirst: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:
Exchange Rate:0.8704 (1.57% from mid-rate)
EUR amount:8,704 EUR
Total Cost:1.57%
Time:12:07 Local
Transfer Speed:1-2 days
Services:Online, Bank Transfers
Rating:
 
: 4.6/5.0
Reviews:
 
OFX: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:0.8708 (1.53% from mid-rate)
EUR amount:8,708 EUR
Total Cost:1.53%
Difference:
EUR4 EUR more than using WorldFirst
Time:
Rate Fetched: Sat Dec 15 2018 10:02:23 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Online, Bank Transfers
Rating:
 
: 4.8/5.0
Reviews:
Wells Fargo Bank: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:18
Exchange Rate:0.8543 (3.39% from mid-rate)
EUR amount:8,527.62 EUR
Total Cost:3.57%
Difference:
EUR176 EUR less than using WorldFirst
Time:12:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
HSBC: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:$15 USD (.15%)
Exchange Rate:0.8534 (3.49% from mid-rate)
EUR amount:8,521.2 EUR
Total Cost:3.64%
Difference:
EUR183 EUR less than using WorldFirst
Time:12:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo

Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:15
Exchange Rate:0.8482 (4.08% from mid-rate)
EUR amount:8469.21 EUR
Total Cost:4.23%
Difference:
EUR235 EUR less than using WorldFirst
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Bank of America: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:0.8499 (3.89% from mid-rate)
EUR amount:8,414.01 EUR
Total Cost:4.85%
Difference:
EUR290 EUR less than using WorldFirst
Time:12:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
U.S. Bank: Foreign Transfer USD→EUR
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:0.8499 (3.89% from mid-rate)
EUR amount:8,414.01 EUR
Total Cost:4.85%
Difference:
EUR290 EUR less than using WorldFirst
Time:12:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Rates @ 12/15/2018.
Total Cost = Fee + exchange rate margin vs USD/EUR mid-rate: 0.8843
 

Popular EUR cross rates


EUR/USD - Euro to United States Dollar - 10 Year History

DateExchange RatePeriodChange
14 Dec 20181.1296Latest
07 Dec 20181.13851 Week-0.78%
14 Nov 20181.13121 Month-0.14%
17 Jun 20181.15946 Months-2.57%
14 Dec 20171.17751 Year-4.07%
14 Dec 20161.05142 Years+7.44%
15 Dec 20131.37355 Years-17.76%
16 Dec 20081.392110 Years-18.86%

EUR/GBP - Euro to British Pound Sterling - 10 Year History

DateExchange RatePeriodChange
14 Dec 20180.8991Latest
07 Dec 20180.89431 Week+0.54%
14 Nov 20180.87121 Month+3.2%
17 Jun 20180.87336 Months+2.95%
14 Dec 20170.87661 Year+2.57%
14 Dec 20160.83912 Years+7.15%
15 Dec 20130.84275 Years+6.69%
16 Dec 20080.903310 Years-0.46%

EUR/JPY - Euro to Japanese Yen - 10 Year History

DateExchange RatePeriodChange
14 Dec 2018128.1491Latest
07 Dec 2018128.34141 Week-0.15%
14 Nov 2018128.46751 Month-0.25%
17 Jun 2018128.27166 Months-0.1%
14 Dec 2017132.33781 Year-3.17%
14 Dec 2016122.76042 Years+4.39%
15 Dec 2013141.72765 Years-9.58%
16 Dec 2008124.741010 Years+2.73%

EUR/AUD - Euro to Australian Dollar - 10 Year History

DateExchange RatePeriodChange
14 Dec 20181.5744Latest
07 Dec 20181.57941 Week-0.32%
14 Nov 20181.56401 Month+0.66%
17 Jun 20181.55826 Months+1.04%
14 Dec 20171.53611 Year+2.49%
14 Dec 20161.41982 Years+10.89%
15 Dec 20131.53335 Years+2.68%
16 Dec 20082.042710 Years-22.93%

EUR/CAD - Euro to Canadian Dollar - 10 Year History

DateExchange RatePeriodChange
14 Dec 20181.5109Latest
07 Dec 20181.51681 Week-0.39%
14 Nov 20181.49851 Month+0.83%
17 Jun 20181.53046 Months-1.27%
14 Dec 20171.50661 Year+0.29%
14 Dec 20161.39352 Years+8.42%
15 Dec 20131.45475 Years+3.86%
16 Dec 20081.697110 Years-10.97%

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