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Exchange CYP and MTL notes "at home"


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Now that Cyprus and Malta are euro countries, you may wonder what to do with any pound or lira cash that you have, from a previous stay there maybe. Well, if you are in Euroland, this month and next month your domestic central bank takes care of that.


In January and February, the central banks of the Eurosystem will exchange pound and lira notes into euro cash - free of charge, that is, at the official rates of 0.585274 CYP or 0.429300 MTL per euro. This can be done at any branch office of "your" national central bank; here is more info (in German) from the NCBs of Austria and Germany:





The other Eurosystem NCBs have similar offers regarding the exchange of CYP and MTL notes (no coins) into euro cash. Ask your central bank for more info ...



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Cyprus Changes Over to Euros

ArtAvatar3782.jpgBy George Cuhaj

February 04, 2008ArtLargImg3782.jpg




It is sad when a nation loses its national currency, and this month we have the Euro conversion for Cyprus. After two years or so of dual prices posted in stores and markets - so folks could get accustomed to the concept - the actual period of one month of dual circulation just ended, with the Euro now the sole currency in use.


This has caused a great interest in high grade older notes, and with that, the prices for many pre-1985 have increased tremendously. Even the 1980 and 1990 issues have seen good upward movement. But remember, it is usually only seen with uncirculated grade notes!


The Central Bank has for some time sold uncirculated notes for collectors, but in the recent past it has instituted surcharges for this service. Last year it even raised the prices in anticipation of increased demand during the last year of the Cypriot Lira.


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By George Cuhaj

It is sad when a nation loses its national currency

Sad for a paper money collector, well, yes. But as Cuhaj points out himself, the old notes are still around. Apart from that, the "national currency" of Cyprus and Malta did not get lost - they picked a different one instead. If you have any CYP/MTL notes left - those can be exchanged for another two weeks at any branch office of your Eurosystem central bank. Also, until the end of March, commercial banks in Malta exchange MTL notes and coins into EUR cash free of charge; until the end of June, banks in Cyprus offer such a service for CYP cash. After that, the central banks of the two countries will continue to exchange the "old" cash for a couple of years.



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