The Cypriot government is planning to hand out euro converters to every household for consumers' convenience before Cyprus joins the euro zone as of January 2008, The Daily Cyprus Mail reported on Saturday.

The report said that local banks might also offer free euro converters, special calculators which give an instant conversion from the Cyprus pound to the euro without typing in the rate.

The Cypriot government is to buy 250,000 euro converters for distribution in a bid to ensure a smooth transition to the euro for consumers, Finance Minister Michalis Sarris was quoted as saying.

The Cyprus pound is likely to be fixed to the euro by July this year after Brussels decides if the island is ready to join the euro zone from Jan. 1 next year.

"They know Cyprus fulfills the criteria and are looking positively on Cyprus' entry to the euro zone," said Sarris.

Source: Xinhua