Businesses will be encouraged to price their goods and services in both Cypriot pounds and euros to prepare the public for adoption of the single currency in January 2008, authorities said yesterday.
The Finance Ministry and Central Bank said businesses would be allowed to use euros and pounds in invoicing immediately. Initially this would be voluntary, but will become compulsory in the months immediately before joining to the euro zone, a Finance Ministry official said.
About 59% of people surveyed in the last Central Bank poll said they thought there would be an inflationary spike from retailers rounding up prices.
InvestinCyprus.com
