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Britons 'should prepare for Cyprus' euro entry'
Britons who visit Cyprus regularly have been advised to prepare for the island's forthcoming entry into the euro.
Foreign currency specialists Travelex stated that 73 per cent of travellers from the UK were unaware that the country was set to change its currency in January 2008.
According to the firm, 57 per cent of holidaymakers in Cyprus are British, which means that many may have outstanding local currency that will soon be unusable.
However, figures show that about half of travellers do not exchange their currency upon returning.
Steve O'Donovan, regional divisional director of Travelex, advised: "With the change in currency coming up, we are urging travellers to make sure they don't lose out."
The firm has recommended that regular visitors or people who have recently returned from Cyprus either use up or exchange their leftover currency before the changeover.
This comes after Lucas Papademos of the European Central Bank was quoted by the Financial Mirror as saying that the island was "well-prepared" for its entry into the euro.
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