North Cyprus Currency - Turkish Lira

The unit of currency in Northern Cyprus is the Yeni Turkish Lira (YTL)
Banknotes: 100, 50, 20, 10, 5, 1 YTL (Yeni Türk Lirasi)
Coins: 1 YTL and 50, 25, 10, 5, 1 new kurus (cents)

Currency to bring
When in North Cyprus you can pay with several hard currencies like UK sterling, Cyprus pound, US dollar or Euro. All these currencies may be used in shops, hotels and restaurants, or can be easily exchanged. Sterling (GBP) is the best form of currency to bring. Turkish Lira is not recommended to bring since the exchange rates are much better in Northern Cyprus. Recently the exchange rates have been around 2.30 YTL to the GB pound.

Travellers Cheques
In spite of the very low rates of crime, if you feel uncomfortable carrying large amounts of cash, then you can bring euro cheques and traveller cheques. They are accepted and easily exchanged in banks, exchange bureaux and hotels.

Useful information
Currently there are no strict controls on the quantity of cash or traveller's cheques imported into North Cyprus but it is advisable to leave with as few YTL as possible, since exchanging them back outside of either Turkey or Northern Cyprus will be at unfavourable rates. Up to $10,000 may be exported.

Credit Cards and ATMs
Widely acceptable and practical, you can pay with plastic in many stores, restaurants, supermarkets or petrol stations. From ATMs (automated teller machines) cash can be withdrawn at any time, although with some bank charges applied. Do not forget your pin number. You will find plenty of ATMs in North Cyprus as they are located in all the larger cities like North Nicosia. Famagusta and Kyrenia

Banking
North Cyprus is well served by commercial banks, most of which are branches of, or susidiaries of, the major banks operating in Turkey. There is also an HSBC in Kyrenia.

It is easy to open an account and you can open accounts in TYL or Sterling or both. Transfering money from the UK typically takes three days. Recently the banking sector has started to expand its range of financial services, although banks do not have the wide portfolio of financial products which one is accustomed to in the UK.

Hillcrest Property Consultants
Kyrenia
Northern Cyprus
TRNC
Tel: (0044) (0)1634 778344
Email: info@hillcrest-cyprus.com