What is the official currency in Northern Cyprus?
The official currency in Northern Cyprus is the Turkish Lira (TL), which is divided into 100 New Kurus (pronounced “Krush”). Pounds Sterling and the Euro generally perform well against the Turkish Lira, which is why holidays and living costs for visitors in Northern Cyprus are overall quite affordable.
Banknotes of the Turkish Lira come in denominations of TL 1 (rare), 5, 10, 20, 50, 100 and 200. The Lira is divided into Kurus coins, available in Kr 1 (rare), 5, 10, 25 and 50.
Should I bring Turkish Lira to Northern Cyprus?
All shops and restaurants in Northern Cyprus accept Pounds Sterling and Euros (banknotes, not coins). You will receive your change in Lira, so you will quickly accumulate local currency! Most places also accept cards, so in most cases it is not necessary to obtain Turkish Lira in advance.
You will get a noticeably better exchange rate for your Pounds or Euros once you arrive in Northern Cyprus compared to exchanging them in the UK or EU before traveling.
If you arrive at Ercan Airport, check in advance whether your taxi accepts Pounds/Euros; if not, you may need up to £50 worth of Lira for the ride.
If you arrive via Larnaca or Paphos Airport, you will need some Euros for airport expenses, as no other currency is accepted there.
Is it easy to exchange money in Northern Cyprus?
Once in Northern Cyprus, you can easily exchange Pounds, Euros, Dollars or other major currencies at exchange offices or banks in larger cities such as Kyrenia (Girne), Nicosia (Lefkoşa) or Famagusta. There are also exchange offices near various border crossings.
Exchange rates vary from day to day and from one office to another, so it is worth comparing rates instead of exchanging all your money on the first day. You may be asked to show your passport or ID when exchanging currency.
Where do I need to pay in Turkish Lira?
As mentioned, most shops and restaurants accept Pounds, Dollars, and Euros. However, when visiting official sites (e.g., state-run historical sites or museums), you must pay in the local currency – Turkish Lira.
Outside major tourist areas, such as in smaller towns and villages, Lira is often preferred as well.
Why are many property prices in Northern Cyprus listed in Pounds Sterling?
Although the Turkish Lira (TL) is the official currency, its value tends to fluctuate. To avoid instability in property prices – and due to Cyprus’ history as a former British colony – Pounds Sterling has established itself as a stable reference currency. Property in Northern Cyprus is therefore often priced in Pounds to avoid exchange rate volatility of the Turkish Lira.
Does the use of the Turkish Lira mean that Northern Cyprus is part of Turkey?
No. Many people assume that Northern Cyprus is part of Turkey because it uses the Turkish Lira, but this is not the case. Northern Cyprus is an independent country under Turkish protection. After separating from Southern Cyprus in 1983, it chose to adopt the Turkish Lira.
Northern Cyprus could theoretically introduce another currency, but since many banks in the region are Turkish banks, it is expected that the Lira will remain the primary currency.
Can I use ATMs and credit cards?
Most larger shops and restaurants accept foreign debit/credit cards with standard chip-and-PIN systems. Sometimes cards must be swiped.
Before traveling, check with your bank regarding fees for card use or ATM withdrawals in Northern Cyprus. Make sure you know all your PIN numbers.
Crypto – Bitcoin & more
There are many exchange offices for cryptocurrencies. Many businesses – clothing stores, car dealers, real estate companies and more – are willing to accept cryptocurrencies, especially Bitcoin.
What currency is used in Southern Cyprus?
The currency in Southern Cyprus is the Euro. If you enter through Southern Cyprus or plan to cross the border in Nicosia/Lefkoşa, the Euro applies there.