Cyprus-Forum.com

[Brent2403]

My wife and I are visiting Cyprus in a couple of weeks ( can't wait ). When I bought my travellers cheques on Saturday, I was advised to buy US Dollars and change them up whilst in Cyprus.

So, my question is can anyone please advise of the current exchange rate of US Dollar to £ CYP ?

Thanks in advance - Brent

[Svetlana]

Hi Brent

You should get about 44c per US$

Not sure about the advice to buy Travellers' Cheques in US$, it will cost you two lots of exchange rates: purchasing US$ in UK£, then converting them to CY£.

Next time just bring UK£ and change them here in a bank.

Lana

[Brent2403]

mm I think Ive been had.

The girl in First Choice said that because of the dollar rate against £ UK I would get more for my money, as they were charging commission to buy £ UK travellers cheques and not on US $ cheques.

Can you please advise what the current rate for £ UK to CY £ ?

Thansk - Brent

[Svetlana]

At your Cyprus Hotel maybe 79c per UK£, at a Cyprus Bank about 83c
- the current mid-point for commercial exchange is .854c per UK£.

Lana

[GG]

So is it unanimously agreed that changing once there is better?

Marks and Spencer do commission free at 82.

Best I've seen in UK.

http://www.fxcorporation.co.uk/marksand ... _rates.asp

[Brent2403]

just done a rough calculation based on £ 1,000.00 sterling

If I had bought £ UK sterling travellers chqs it would have cost me £ 1020.00 inc commission rate. This would have got me approx CY £ 830.00

As I now have US $ of £ 1,800.00 which only cost me £ 970.00, I will only get £ 792.00 it prob wasnt worth it.

Is this right, or I am being stupid

Brent

[Kikapu]

Brent2403,

I don't know anyone that still uses Travellers Cheques. What's the point. Unless Cyprus does not have ATM machines, to draw what ever amount you need, of the local currency. Big Items and hotels, just pay with a Credit Card.

[Brent2403]

Brent2403,

I don't know anyone that still uses Travellers Cheques. What's the point. Unless Cyprus does not have ATM machines, to draw what ever amount you need, of the local currency. Big Items and hotels, just pay with a Credit Card.

Because UK banks are greedy and charge you money for using your debit card abroad ( 2.75 % ) if you use in shops / resturants etc - on top of a 1.5 % charge for withdrawing money

Brent

[Kikapu]

Brent2403,

I don't know anyone that still uses Travellers Cheques. What's the point. Unless Cyprus does not have ATM machines, to draw what ever amount you need, of the local currency. Big Items and hotels, just pay with a Credit Card.

Because UK banks are greedy and charge you money for using your debit card abroad ( 2.75 % ) if you use in shops / resturants etc - on top of a 1.5 % charge for withdrawing money

Brent

Yes I know, I have used my UK and US ATM cards here in Switzerland before, but it is still more convenient than T/Cs. I dont know if it's worth the hassle to buy/carry/cash/return unused/re-cash T/Cs, when you're on a holiday. Your time is also worth something, chasing around with T/Cs.