Currency

The Cyprus Pound, also known unofficially as the Cyprus Lira is the currency used in Cyprus. It is currently subdivided into 100 cents, and was previously divided into 1000 mils until 1983 (mil-denominated coins are no longer legal tender). It will be replaced by the euro in the near future, which the Cypriot authorities hope to be as early as 2007. The currency entered the Exchange Rate Mechanism II on May 2, 2005.

1 Cyprus Pound is worth €1.72835 or US$ 2.27635. It is pegged to the euro at CYP 0.585274 ±15% per euro.

Coins in current use

• 1 cent
  
• 2 cent
  
• 5 cent
  
• 10 cent
  
• 20 cent
  
• 50 cent
  

Banknotes in current use

• 1 Pound
  
• 5 Pound
  
• 10 Pound
  
• 20 Pound