# Cypriot pound



## Guest (Apr 21, 2012)

Hi All!
Is there a reason that many companies and the state still quote prices in Cypriot pounds


Hope its warmer than here in Germany, we still have minus during night now and then


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## cds usa (Jan 4, 2011)

Vegaanders said:


> Hi All!
> Is there a reason that many companies and the state still quote prices in Cypriot pounds
> 
> 
> Hope its warmer than here in Germany, we still have minus during night now and then


Just leftover from the switch to the Euro, I suspect because they don't have an IT guy or they think it sounds better because it's less
Or they don't think the Euro is going to last so why redo the work.

There are few international clothes stores in Nicosia that still have it in their price tags along with the Euro.

Just my guesses!


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## Guest (Apr 21, 2012)

cds usa said:


> Just leftover from the switch to the Euro, I suspect because they don't have an IT guy or they think it sounds better because it's less
> Or they don't think the Euro is going to last so why redo the work.
> 
> There are few international clothes stores in Nicosia that still have it in their price tags along with the Euro.
> ...


Many state departments still have the prices in C Pounds and today I saw an Internet Provider that only quote in C Pounds. 

Its strange because there is officially no such currency anymore. It stopped to exist 01.01.2008. So its more then 4 years ago


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## Veronica (Apr 5, 2008)

The problem is that many Cypriots(especially the older ones) just can't accept that the Cyprus pound no longer exists. 
When we are dealing with Cypriots with property we have to make certain which currency they are talking in


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## Guest (Apr 21, 2012)

Yes there is a difference in value. Could be embarrasing:ranger:


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## Veronica (Apr 5, 2008)

Vegaanders said:


> Yes there is a difference in value. Could be embarrasing:ranger:


It certainly would be embarrasing if we advertised a hosue for 100.000euros when the owner wants 100.000Cyp for it.


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## The Stoker (Jun 14, 2010)

Veronica said:


> It certainly would be embarrasing if we advertised a hosue for 100.000euros when the owner wants 100.000Cyp for it.


Hi Veronica, I have noticed some property advertising is in Cyp £'s, forgive me if I am being a bit of a biff, but what do they base an exchange rate on if the Cyp £ is a none existant currency.

John.


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## Veronica (Apr 5, 2008)

The Stoker said:


> Hi Veronica, I have noticed some property advertising is in Cyp £'s, forgive me if I am being a bit of a biff, but what do they base an exchange rate on if the Cyp £ is a none existant currency.
> 
> John.


It is based on the rate that the Cyprus pound was exchanged for at the time of the change over. I forget what that was. It is however illegal to still be advertising in Cyprus pounds. Companies were given one year in which to show both prices while people got used to the euro but after that they were supposed to drop the Cyprus pound. Unfortunately many websites which belong to Cypriots are so out of date that they still have the Cyprus pound. Often these sites are just not updated and many of the properties they show will probably have been sold long ago.


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## Guest (Apr 22, 2012)

Hi!
They still use the rate it had when it was changed to Euro

Quote
"The Cyprus pound was replaced by the euro as official currency of the Republic of Cyprus on 1 January 2008 at the irrevocable fixed exchange rate of CYP 0.585274 per EUR 1.00."


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## siobhanwf (Mar 20, 2009)

Not only CY £ but the same happens in Portugal. Prices in Euros and Escudos
In France they still will give you the price of houses in OLD French Francs
It was in 1960, that the " new " franc replaced the " old " franc


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## Guest (Apr 22, 2012)

Veronica said:


> It is based on the rate that the Cyprus pound was exchanged for at the time of the change over. I forget what that was. It is however illegal to still be advertising in Cyprus pounds. Companies were given one year in which to show both prices while people got used to the euro but after that they were supposed to drop the Cyprus pound. Unfortunately many websites which belong to Cypriots are so out of date that they still have the Cyprus pound. Often these sites are just not updated and many of the properties they show will probably have been sold long ago.


As I wrote yesterday in another thread, even broadband companies quote prices in CYP Pounds. Horrible


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