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The formation of the island
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Banks and Currencies
Turkish lira is the official currency of North Cyprus. Sterling, US Dollars and other major currencies may be used in large stores or exchanged. Sterling is the best form of currency to bring. All types of banking services are available and they are flexible enough to satisfy the continually diversifying needs of the business community and private individuals. There are also branches of major Turkish banks which hold international importance and operate branches internationally. HSBC Bank has now opened branches in major cities of TRNC.
Banks operate and are open from Monday to Friday (except public holidays) between 08.00-12.00/14.00-16.00 hours. There is no restriction for the import of foreign currency into North Cyprus; however, the export of currency is restricted to 8,000 USD, or the equivalent in other currencies. Exchanging all the currencies in banks, exchange offices and in hotels, is possible. If you feel uncomfortable carrying large amounts of cash then Eurocheques, Travellers Cheques are accepted and easily exchanged in banks, exchange bureaux and hotels. Visa card, credit card, master and euro cards may also be used instead of cash.
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