anyone help with this?

bwfcboy we went to Cyprus for the wifes first visit last year we took just enough for a couple of days and took cash which we changed there got a good rate.
However we have change some for a few days again keeping a watch on things at the moment with whats going on in Greece and so on. We may end up changing
more if the exchange rate drops before we go in 3 weeks time . not sure if this is helpful to you . Have a great Holiday

We have been going to the Larnaca side of Cyprus twice a year for 6 years now and have always found it better value to take GBP and change it there as no commission and much better rates than at home. May/June this year we were getting approx 1.12 hope this helps.

We also took UK sterling to change in resort, it was a little better. We went June this year and the rate was 1.17 euro, but dropped to 1.12. We never paid commission either. Wouldnt take travellers cheque so 80s you can put your cash on a pre paid card now that can be used in cyprus, so therefore comes out that days rate.

thanks for the responses.

i called the hotel last week and their current rate is 1.04 which is dreadful.
does anyone know the current rate in the local area of paphos for £?

thx

Hi, just back from Paphos, got 112 per £ on 19/7/11, that was from a shop down by the harbour, didn't check after that, our Hotel was offering 104 the same day.

brilliant, thats really useful, thanks so much for posting.
was that commision free?
thx again

yes commission free, if there is such a thing, that's the amount you actually got in your hand. There were quite a few places with boards outside quoting prices, and they were usually all around the same rate. T/Cheques were about 1 or 2 cents below the sterling rate

great info boaz, thank you, you wouldn`t believe how hard its been to find out this simple info!

would you know if travellers cheques were comission free exchange too and did all the change places take them?

i know they`re regarded as old fashioned but they are safer and i can get a charge free exchange for £ from my bank

Sorry i'm going off topic here, but bwfc - are you by any chance a bolton wanderers supporter

well, can't say for sure about T/cheques as I don't use them, but all prices quoted were under a sign saying commission free, so I would assume so..

yummymummy, I'm not a wanderers supporter, if that helps..

Instead of taking travellers cheques which you do not get a very good rate on, the next best thing is using a pre-payment card you load on with money, then use the atms in resort and get the best rate, for example ....

http://www.caxtonfxcard.com/ourcards.asp?a_aid=4d8b581929553&a_bid=1c00a8ca&gclid=CJnW4Y2YpqoCFQkf4Qod8zuqbQ
http://www.fairfx.com/cardselection

It is extremely safe, if you lose your card the company get money to you within so many hours.

Michelle x

TIP: In some tourist areas check first if the Commission Free rule is based on you exchanging a minimum amount of cash... It's happened to us before in Benidorm and a long while ago in Cyprus.

My parents always bring cash and exchange in the tourist area of Limassol and nowadays there doesn't seem to be this constriction but you should always ask for the calculation for how much you will receive if you exchange "x" amount of pounds and if it tallies with the figures displayed - go for it!

Shell
Limassol, Cyprus

@yummymummy, how did you guess!

thx for the help with this topic. I`m taking cash and changing when i got there and then i`ll draw out using my bank card when i run out.

i changed £600 to euros online last week and paid with my visa card.

i got a rate of 1.10 but i was charged a £9 transaction charge and then my credi card company charged an £18.30 cash advance fee

thats £627.30 for 660 euros - effectively 1.05 euros to the £

OUCH!!!!

We were half board at our hotel (two of us) for 2 weeks, and went to different restaurants a couple of times. Drinks at night, a couple of trips and we still spent £1000 in two weeks. Cyprus isn't cheap, even with deals on, but i was informed its a lot cheaper than spain.

a post-holiday update for the benefit of anyone going to Cyprus! This info is dated the middle 2 weeks of August 2011.

~ the best rate we were able to get was 1.13 to the £ commision free which was an exchange for £ cash. this was easily available in and around the harbour area of paphos.

~ travellers cheques varied by a few cents here and there but i saw one place giving 1.12.

~ at the same time, the monysavingexpert travel cash link was giving a best rate delivered in the uk of 1.11 after all charges (£500 minimum)

~ i used my first direct visa in resort which was exchanged at between 1.10 and 1.11 over the 2 weeks of our visit, commision free

~ my first direct debit card worked out at 1.09 for € withdrawals from a cash machine (after £5 withdrawal charges were accounted for)

~ my tsb debit card worked out at 1.10 after charges for € withdrawals from a cash machine (after £3.50 withdrawal charges were accounted for)

so the winner is cash for € in resort

PS. Cyprus is a disgustingly expensive resort and not even particularly good quality. I won`t be going back anytime soon

I think it depends on what you spend your money on . We just got from limmasoll 4 days ago yes we got 1.12 to the £ but we were lucky enough to find happy hour 7.30 to 9.30 each evening . we came home with half our spending money and we even bought 7 lovely linen table cloths with napkins for family gifts . yes we were half board and we had a fantastic time . the same thing as last year in a way .

Hi, with the current exchange rate over here showing as 1.19 (on travelex) I'm wondering whether to get some now or do the usual and wait until we are in Cyprus as its usually a couple of cents higher over there (doesnt sound much but it all adds up )

So, my question, has anyone recently returned from Cyprus and if so what was the exchange rate in the tourist exchange places (we usually exchange our Sterling in one of the shops or off license in Pernera)?

In the tourist area of Limassol the rate is generally a couple of cents below the advertised bank rate which at the moment is 1.23 to the UK pound so you can expect to get around 1.20 to 1.21 if the rate stays as it is.