CBC calls on holders of Cypriot pounds to exchange them with euro by December 31 2017

The Central Bank of Cyprus (CBC) called on all those who still hold Cyprus pounds bills to exchange them for euro, as the deadline for exchange concludes on 31 December 2017.

The Cypriot pound ceased to be the island’s legal tender on January 1 2008, when Cyprus entered the euro area.

According to CNA calculations from the CBC’s annual reports, Cyprus pound bills amounting to Euros 67 million have not been exchanged.

Due to the imminent expiry of the deadline for the exchange, the public is called on to bring to the CBC the Cyprus pound bills it may have so they can be exchanged, CBC Spokesperson Aliki Stylianou said in statements to the press on Wednesday.

Noting that Cyprus pound bills will not be exchanged after December 31, Stylianou pointed out that Cyprus pound bill can only be exchanged by the CBC with no charge.

The CBC can Cypriot pounds by mail and will deposit the respective amount in euro to the holder’s bank account with a fee to cover remittance charges, she added.

According to the exchage rate set in 2007, one Cyprus pound equals Euros 1.71.

Source: Cyprus News Agency