The currency in Cyprus is Cyprus Pounds (CY £).
One Cyprus Pound is divided in 100 cents. Cyprus is
expected to introduce the Euro around 2006.
The currency converter on the left, generates real
time exchange rates, also of other currencies.
Below is a brief overview of the history of currencies
in Cyprus. In 1995 at the Bank of Cyprus administrative
headquarters the Museum of the History of Cypriot Coinage
opened a permanent exhibition of the development of
Cypriot currency, from as early as the 6th century BC
until recent times.
Museum of the History of Cypriot Coinage website
In the 6th century BC the minting of coins was a privilege
enjoyed by all the kings of Cyprus, although Cyprus
was under Persian domination at the time. The earliest
Cypriot coins were made entirely of silver.
Starting with the rule of Alexander the Great (333
- 325 BC) pictorial representation on coins becomes
more political, a tradition kept alive in later periods.
The independent minting of coins by the Cypriot kings
ended in 310 BC with the abolishement of the city-kingdoms
by Ptolemy I of Egypt. In the Roman period the depictions
on coins project the glory and exploits of the emperors,
and are used as a means of propaganda and other materials
like gold and copper where introduced, reflecting the
From 330 AD the Byzantine period starts for Cyprus
and in this period many coins were published which had
been struck in Constantinople.
In 1191 AD Richard the Lionheart conquered Cyprus,
and sold it to the Frankish king of Jerusalem Louzinian.
Until the 13th century the currencies of the kingdom
were Byzantine and Dinars until Henri II Crusader king
of Cyprus and claimant to Jerusalem (1285-1324) introduced
a new coin, the silver gross, which remains the typical
coin of Cyprus until the Ottoman period.
The Ottomans soon after they invaded Cyprus (1571 AD)
introduced their numismatic system. The coins were struck
Constantinople with a very few exceptions of coins
which were struck in Cyprus during the 17th century.
In 1878 Cyprus was transferred to the British rule,
which introduced their new numismatic system based on
the piastre (copper) and later on 1901 on the shilling
(silver). In 1955 the British withdrawed all the previous
coins, introducing the Cyprus pound (1000 mils). For
the first time in Cypriot history they typed money on
On 16th of August 1960 Cyprus was declared as an independed
state. The new state kept the British numismatic system
by changing their symbols on both faced of the coins
and banknotes. In 1983 the Cyprus pound division changed
from 1000 mils to 100 cents which is the situation until