North Cyprus, Shopping and the Euro

On the first of January 2008, Cyprus – as in the Republic of (south) Cyprus - joined the euro. The country and its citizens are slowly getting used to the new currency and giving up their Cyprus pound with which they were always able to dupe Brits into thinking everything was a bit of a bargain when they went on holiday when in reality, the Cyprus pound was in the region of 20% more expensive that its British namesake!

So, now that the Greek side of the island has adopted the euro, where does this leave the Turkish Cypriots and the expats living on the north where the volatile Turkish lira is the official currency? In this article we look at North Cyprus, shopping and the euro as well as how the economies and people of Cyprus get along really!

Northern Cyprus has actually been accepting the euro ever since it first went into circulation in nations like Germany, France and Italy. In fact, traders in North Cyprus accept any major currency from the lira to the euro, from the British pound to the US dollar. The people of North Cyprus are not fussy. You can’t rile checkout staff by paying half in lira and half in euro either – though change will usually be given in lira – unless they’ve run out of lira and then you can choose the currency you want your change in!!

You see, the people of Northern Cyprus are friendly, patient and adaptable. Because they have had to be because of the isolated situation they find themselves in.

The people in southern Cyprus are equally friendly and quite welcoming of shoppers from the north. So much so that the authorities in the north have rather meanly put a 135 euro restriction on the amount of goods that you can bring across the border from south to north – which results in the ‘illegal smuggling’ of Ikea shelves, salt and vinegar crisps and pork products more often than not!

Shopping in southern Cyprus offers a lot more choice you see – which is why around 50 million Cyprus pounds flowed into the south’s economy from consumers in the north in 2006 according to estimates and a report in the International Herald Tribune. But the northern authorities shouldn’t be so tight and mean about it all – they should relax. Why? Because according to the same estimates and the same report, around 110 million Cyprus pounds flowed the other way. Mainly into casinos’ coffers in the north mind you, but still boosting the economy quite nicely.

When it comes to shopping, the Greek and Turkish Cypriots and all the expats actually get along very well – unless you push in front of any of them in the supermarket queue. The Greek Cypriots are happy to buy cut price designer wear in the north and purchase textiles and cigarettes for example, which are much more favourably priced in North Cyprus. And Turkish Cypriots are keen to explore the department stores and electrical shops in the south where anything and everything from computer hardware to alcohol can be more cost effectively purchased. And the expats will explore the markets of the north, the supermarkets of the south and everything else besides in search of choice and bargains.

So, when it comes to currencies, shopping and getting along when bargain hunting…north and south alike get along just fine!