Exchanging the currency is better at the banks or at the airport. Also it is necessary to keep the bank receipt. In the presence of a amount more than 1000 USD, is necessary to proclaim it by arrival at the airport.
All major credit cards are accepted. Also is important to find out the taxes you have to pay using the credit cards as some institutions fixes a definite percent (5% /7%) which will be charged from the credit card at the time you will charge the money. Also is important to mention that is very inconvenient to charge the money at the cash machine as it is charged a considerable percentage.
As for the purchases made in stores, it is more convenient to pay for it with a credit card.
Banks work on weekdays from 8-30 till 12-30. Some banks that are located in touristic zones work in the afternoon as well.
On 1 January 2008, Cyprus joined the EU and adopted the Euro as its official currency, replacing the Cypriot pound at an irrevocable fixed exchange rate.
Cypriot pound was the monetary unit of Cyprus Republic. It wss equal to 100 cents. On the Turkish territory circulates Turkish pound. Under the fluctuation in the exchange rate Cyprus Pound was higher than 2$. The currency on Cyprus was issued with the following nominal value: bank notes - 20, 10, 5, 1 and 0.5, and coins - 50, 20, 10, 2, 1 and 0.5.
See also: Transportation in Cyprus