Malta and Cyprus will both change their currencies to the Euro from 1 January 2008.

According to research by Travelex, a leading global foreign exchange and business payments specialist, 73% of British travellers are unaware that the Euro is to be introduced as the currency of Malta and Cyprus at the beginning of 2008 – despite Brits making up the majority of visitors to the two countries.

The Maltese Lira and Cyprus Pound are among the top selling currencies according to Travelex, and the company is urging those who travel regularly to the two countries to use up or exchange their leftover currency before the Euro is introduced in the New Year.

The British make up 57% of visitors to Cyprus and 38% to Malta, and with only 50% of travellers exchanging their leftover travel money, Travelex anticipates that hundreds of thousands of UK tourists will be affected by the currency change.

Jacqui Holt, Head of Sales and Financial Services at Thomas Cook, supports Travelex’s research: “Cyprus and Malta are two of the leading destinations for our customers, many of whom visit frequently throughout the year. It’s concerning that so many people are unaware of the switch-over to Euros. We offer pre-paid currency cards at over 800 outlets across the country and would recommend anyone heading to these destinations for some winter sun to arrange their holiday money in advance.”

Both Cyprus and Malta have been members of the European Union since May 2004, and their change in currency comes into effect on 1 January 2008.

For more information about the pre-paid currency cards and currency exchanges, log on to www.travelex.co.uk.