Cyprus-Forum.com

[Bill]

Well it will make us "Charlies " very happy , since for years we would change our Stg to Cyprus pounds and would only get 80 pounds for every 100 of ours !! So here you have it , for every one pound we will get 1.40 !!!
Seriously though for years I have argued with English Cypriots that changing a £1000.00 Sterling and obtaining £800 or so Cy.£s does not translate into loosing £200.00 , but to no avail. Still many consider they loose out.

Miltiades -- I've been trying to explain this to my Cypriot wife for years .

My comment of "it doesn't matter what the exchange amount is -- it's what you can buy with it that matters" just doesn't make sense to her at all --

She will obviously be happy when the Euro hits Cyprus because she will get more for her GB pound -- but wait til she finds out how many Euros things will cost then she might finally realise what I've been telling her for years .

Bill

[Crivens]

Yeah, I tried to explain to an American the other day about the price of petrol in the UK (stupidely high). Got a comment back along the lines of "Well, I suppose it helps that you get two of our dollars to every one of your dollars". Sigh. I then gave an extended explanation about how you pretty much have a very similar standard of living in both countries (give or take one or two items, such as IT items and driving in the UK essentially ripping us off left right and centre). eg. If you earn £20000 for a job in the UK, then you will probably earn $40000 in the US for the same job (again, this is just generally speaking; my job is worth about 50% more over there, but then they value what I do more). If an item costs £100 over here, then it will be approx $200 over there. ie. everything (give or take) is about the same % price of your worth in both countries. Totally fell on deaf ears basically (response was something like "Yeah, but you get 2 american dollars for just 1 british dollar!!! Thats like twice as much!!!"). Groan...

If you convert the Cypriot price for the PS3 to GBP, for example, then you will find it within a couple of quid of the massive ripoff UK highstreet price. Same will go for Euro. Apart from that rounding mentioned earlier. Eg. If it's 499 in CYP and that is 856 in Euro, then it's more likely they will make it 859 in Euro. You know what prices are like with 9's. Could also be 849 though (good rounded price so under 50), but more likely to be rounded up I would have thought.

Cheers

[Get Real!]

Miltiades -- I've been trying to explain this to my Cypriot wife for years .

My comment of "it doesn't matter what the exchange amount is -- it's what you can buy with it that matters" just doesn't make sense to her at all --

Try explaining things to her by example... tell her about by how many pairs of shoes and handbags she'll be better off!

[Ruserious]

It's official - Parking in Cyprus now at 1CYP will be 2Euros after the switch - ask any parking attendent! - I wonder what else will be rounded up like this? I'm sure a Pitta Souvlaki will be 5Euro and not 4.40!

[Crivens]

Hmmm. Apparently a friend of mine says she raid something in the Cyprus mail about a month ago that while rounding up when the Euro comes in is not illegal, shops will be fined if they round up too much. Carrefour apparently said they would be actually rounding down. Not too surprising for the huge shops though.

Cheers