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Cyprus Euro Conversion 2008

Information on the currency conversion from Cyprus Pound to Euros in 2008.

On 1 January 2008 Cypriot currency changed from the Cyprus Pound (CYP) to the Euro (EUR, €). The Cyprus Pound was introduced in 1879, when Cyprus was a British Colony and was, until 1960, equal in value to the British Pound Sterling.

The decision to adopt the Euro was made in 2004 after Cyprus joined the EU and in July 2007 the EU judged that the Cyprus economy was sufficiently stable and inline with the other Member States that the Euro would be adopted in 2008. Dual pricing was enforced on all products from September 2007 for one year.

More information from the National Euro website
And from the Central Bank of Cyprus

The Cash Changeover Plan

1 January 2008, known as E-Day (Σ), Cyprus adopted the Euro.

For two years following E-Day the Central Bank of Cyprus exchanged Cyprus coins for Euros. It will exchange Cyprus Pound notes for Euros for ten years until 31 December 2017.