Cypriots trading in euros
Cyprus has almost completely switched over to its new currency, according to a government official.
Michalis Sarris, the Cypriot minister of finance, stated that the euro was now being used in 95% of transactions on the island.
This comes ahead of the deadline at which point the pound will be withdrawn from circulation and less than a month after Cyprus adopted the currency.
Speaking to the Financial Mirror, Mr Sarris said: "Just a couple of days before double circulation ends, the euro is almost the exclusive currency of Cyprus."
He added that this was the case among consumers and businesspeople in both large towns and more remote areas.
Mr Sarris also predicted that the Mediterranean island was likely to experience economic growth of about 4% in 2008, following a "truly impressive" performance last year.
Earlier this month, a poll by the Famagusta Gazette found that the euro had been readily welcomed by 37% of Cypriots, although 29% said that it was still too early to judge its impact.
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