CYP · CYP
Cypriot Pound (CYP)
The Cypriot pound (CYP) was the official currency of Cyprus before the adoption of the euro in 2008. It is now obsolete and exchangeable only at the Central Bank of Cyprus.
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CYP · Cypriot Pound
CYP: The Cypriot Pound (Obsolete Currency)
The Cypriot pound, abbreviated as CYP, served as the national currency of the Republic of Cyprus from 1879 until January 1, 2008, when Cyprus adopted the euro (EUR) as its official currency. The currency was subdivided into 100 cents, and its symbol was £ or CYP. Throughout its history, the Cypriot pound underwent several changes, including a period when it was pegged to the British pound, reflecting the island's colonial ties, and later to a basket of currencies or the euro as part of the European Exchange Rate Mechanism II (ERM II).
Following Cyprus's entry into the European Union in 2004, the country began preparations for adopting the euro. The conversion rate was irrevocably fixed at 1 EUR = 0.585274 CYP, and the euro was introduced as legal tender on January 1, 2008. The transition period for dual circulation ended on January 31, 2008, after which the Cypriot pound ceased to be legal tender. However, the Central Bank of Cyprus continues to exchange CYP banknotes and coins for euros indefinitely, at the official fixed rate, without any time limit or charge for individuals and businesses.
Today, the Cypriot pound is considered an obsolete currency, but it holds historical significance for numismatists and those interested in the economic history of Cyprus. Its legacy is also evident in the design of Cypriot euro coins, which feature national symbols that echo the island's heritage. For practical purposes, travelers and collectors should note that CYP is no longer accepted for transactions, and any remaining CYP must be exchanged through official channels.
- Code
- CYP
- Symbol
- CYP
- Current rate
- USD / CYP
Currency information
Last updated · 8/7/2026
The Cypriot pound was introduced in 1879, replacing the Ottoman lira.
- Official name
- Cypriot Pound
- Legal tender status
- Withdrawn
- Decimal places
- 2
- Minor unit
- cent · 1 CYP = 100 cent
- Countries
- Cyprus
- Issuing authority
- Central Bank of Cyprus
- Central bank
- Central Bank of Cyprus · Official website
- Exchange-rate regime
- Fixed to the euro
Common banknotes
£1 · £5 · £10 · £20
Common coins
1 cent · 2 cents · 5 cents · 10 cents · 20 cents · 50 cents · £1
Also known as
CYP · Cypriot Pound · £
Practical notes
- The Cypriot pound was replaced by the euro on 1 January 2008.
- Exchange of old Cypriot pound banknotes and coins was possible at the Central Bank of Cyprus until 31 December 2017.
Priority currency pairs
The most useful conversions for this currency.
Cypriot Pound questions
What is the CYP exchange rate?
The displayed rate is the latest available reference rate for USD/CYP. It can change throughout the day.
How can I convert CYP online?
Use the converter above to calculate indicative amounts between CYP and the other supported currencies.