Cypriot Pound

The Cypriot Pound was the official currency of Cyprus until 2008. It was abbreviated as CYP and often symbolized with the £ sign. The Cypriot Pound played a crucial role in the island's economy for many years.

History of the Cypriot Pound

The Cypriot Pound was introduced in 1879, replacing the British Pound at par. It was used during the British colonial period and continued to be the currency of Cyprus after its independence in 1960. The currency underwent several changes, including decimalization in 1955.

Transition to the Euro

On January 1, 2008, Cyprus adopted the Euro (€) as its official currency, replacing the Cypriot Pound. The exchange rate was fixed at 1 Euro = 0.585274 Cypriot Pounds. This transition was part of Cyprus's integration into the European Union.

Significance of the Cypriot Pound

The Cypriot Pound was more than just money; it was a symbol of the island's identity and economic stability. Many older Cypriots still remember the Cypriot Pound fondly, as it was a part of their daily lives for many decades.

Collecting Cypriot Pounds

Today, the Cypriot Pound has become a collector's item. Old banknotes and coins are sought after by numismatists and history enthusiasts. They serve as a reminder of Cyprus's rich history and economic journey.