The Turkish lira is the Republic of Northern Cyprus official banknote. The country also accepts other bills – pound sterling, dollar and euro. In shops, cafes, restaurants, you can pay with other currency. They calculate at the current rate and give change in the lira.
Where to exchange money
Currency can be exchanged at banks (there are international and national banks), many exchange offices: the rate is approximately the same at all points. We do not recommend changing money from individuals. Average exchange rates: 1 dollar – 5.9 lira, 1 euro – 6.6 lira, 1 pound – 7.7 lira.
Cards and accounts
Visa and MasterCard monetary systems are actively operating in Northern Cyprus. You can pay by card in many establishments: shops, cafés, the tourism industry objects. You can withdraw cash: there are many ATMs on the island, the commission is 2-3 dollars per transaction.
It will not be a problem to open a bank account: in foreign currency or local currency, the main requirement is the rented or private real estate availability in North Cyprus. English knowledge or Turkish is also mandatory – all contractual relations are drawn up in these languages.
How much money to take
According to the law, more than any currency 500 units cannot be imported into Northern Cyprus, so it is more advisable to take cards. Cost: lunch in a restaurant will cost 10-15 euros, fruits and vegetables – 1-2 euros per kilogram, water – 50 cents, beer – from 1.5 euros.