GUIDE ON EMIGRATING TO CYPRUS

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Cypriot Money

Cyprus uses the Euro as its currency.

Launched in 1999 the Euro has become the most used currency in Europe. Because of this the exchange of currency is no longer a barrier to tourists and businesses in the Euro zone.  The Euro is used by 17 of the 27 members of the Euro zone. These countries include Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain.

The Euro allows people to travel from country to country with minimum difficulty as they no longer have to exchange currency for every member nation they visit or trade with.

Thanks to the number of nations that use the currency the Euro has become the second largest reserve currency in the world. It is also the second most traded currency. As of 2002 the Euro is managed by the European central bank based in Frankfurt and the Euro system which is comprised of the central banks of the member states.

Because of its common use in Europe it makes the region an ideal place to visit for minimum currency exchange fuss. Despite the recent global recession and the recent bad press regarding debt in member states such as Greece and Spain the currency has the highest combined value of notes and coins in circulation in the world.

Thanks to the zones diverse members, anyone visiting the region can expect to find an amazingly diverse set of cultures, languages and history. The Euro allows you to visit the coliseum in Rome, Italy one day, and then the Eiffel tower in France the next, all without the need to exchange currency.