Currency warning for Cyprus, Malta travellers

Holidaymakers heading to Cyprus or Malta next year have been advised to be aware of these countries' change in the currency they use.

From January 1st 2008, both nations will switch to the euro from the Cypriot pound and the Maltese lira - a change that will affect travellers from the UK, according to foreign exchange firm Travelex.

The company states that 57 per cent of those who head to Cyprus and 38 per cent of travellers to Malta are from the UK, meaning that anyone who has recently returned from these locations - or intends to visit next year with currency already in their possession - should use up or exchange any leftover notes and coins before January 1st.

"Our research shows that 50 per cent of travellers don't exchange their leftover travel money," commented Steve O'Donovan, regional divisional director of Travelex Outsourcing.

"With the change in currency coming up in two major holiday destinations, we are urging travellers to make sure they don't lose out."

From next year, the total number of European countries using the euro will rise to 15.

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