Currency is the Turkish Lira in North Cyprus. Euro, Sterling, Dollars and other major currencies are also routinely used and exchanged throughout North Cyprus.
Banking in North Cyprus has developed out of Turkish system. Besides Turkish-based and local Turkish-Cypriot banks, in North Cyprus operate affiliate branches of international banks. Most of the banks in Northern Cyprus are private and these have many international ties. The Central Bank of the TRNC takes responsibility for monetary, credit and exchange policy, and acts as banker to the government. North Cyprus banks are generally open from Monday to Friday, except public holidays, between 08.00-12.00 and 14.00-16.00.
Most universities accomodate branches of major banks on their campuses so that studets can easily manage their finances and receive the funds that are sent by their sponsors.