Cyprus pounds ‘still usable’

Leftover Cypriot pounds are still valid following the island's entry into the Euro, an expert has advised...

Richard Green, travel specialist at the Sunday Times, stated: “Both currencies will be in parallel circulation in Cyprus until the end of January. People with unused notes and coins would be able to exchange them for euros at any of the island's banks for the next six months. The Central Bank of Cyprus will exclusively deal with the old currency after this point.

Mr Green continued: “This means that people visiting the Mediterranean island during the next six months, including those buying investment properties, have not left it too late to convert their money.

"Scouring your sock draws for any leftover Cypriot notes or coins won’t be in vein, as it will still be easy to exchange the old currency for the euro for a little while yet."

Speaking after the currency changeover on New Year's Day, European commission president Jose Manuel Barroso said the island had taken a "momentous step" and taken its place at the "very heart" of the EU.