Basic Country Data:

• Country ISO Code: CY

• Official Languages: Greek, Turkish

• Language ISO Codes: el (Greek), tr (Turkish)

• Current Official Currency: Euro

• Current Currency ISO Code: EUR

1. Euro (EUR) — Current Official Currency

• ISO Code: EUR

• Singular Name: euro

• Plural Name: euros

• Monetary Subdivision: 1 euro = 100 cents

• Subdivision Name Singular: cent

• Subdivision Name Plural: cents

• Initial Production Date: 1999 (electronic money), 2002 (physical currency)

• Initial Circulation Date: 2002

• Final Production Date: ongoing

• Final Circulation Date: currently in circulation

• Mint: various European mints

• Issuing Bank: European Central Bank (ECB)

• Coin Denominations: 1, 2, 5, 10, 20, 50 cents; 1 and 2 euros

• Banknote Denominations: 5, 10, 20, 50, 100, 200, 500 euros (500-euro note no longer issued since 2019)

• Designs / Symbols:

  • Coins: common European side and national side featuring Cypriot symbols (e.g., national emblems)

  • Banknotes: European architectural motifs (bridges, doors, windows), no real persons depicted

• Current Circulation Status: official currency, actively circulating since 2002

• Economic Historical Context:

  • Euro adopted in 2002, replacing the Cypriot pound.

  • Integration into the European Economic and Monetary Union.

• Relevant Monetary Legislation: European treaties, ECB regulations

• Issuing Authority: European Central Bank

• Signatories on Banknotes: President and Vice-President of the ECB

• Persons or Symbols Honored: national and cultural symbols, no real persons

• Curiosities: regular issuance of commemorative euro coins

2. Cypriot Pound (CYP) — Historical Currency (1879–2007)

• ISO Code: CYP

• Singular Name: pound

• Plural Name: pounds

• Monetary Subdivision: 1 pound = 100 piastres

• Subdivision Name Singular: piastre

• Subdivision Name Plural: piastres

• Initial Production Date: 1879

• Final Production Date: 2007 (replaced by the euro)

• Initial Circulation Date: 1879

• Final Circulation Date: 2007 (transition period until 2008)

• Mint: various, including the United Kingdom

• Issuing Bank: Central Bank of Cyprus

• Coin Denominations: 1, 2, 5, 10, 20, 50 piastres; 1 pound

• Banknote Denominations: 1, 5, 10, 20, 50 pounds

• Designs / Symbols:

  • Coins and banknotes featured Cypriot symbols, historical portraits, and cultural motifs

• Economic Historical Context:

  • Currency used under British rule and independent Cyprus.

  • Maintained relative stability until euro adoption.

• Current Circulation Status: out of circulation since 2007, exchangeable at the Central Bank of Cyprus.

• Issuing Authority: Central Bank of Cyprus

• Signatories: governors of the Central Bank

3. Official Languages and Linguistic Context

• Greek and Turkish are the two official languages of the Republic of Cyprus.

• Cypriot Greek is the majority vernacular in the south, while Cypriot Turkish is spoken in the north.

• For official use, standard Modern Greek and standard Turkish are used.

• Recognized minority languages include Armenian and Cypriot Arabic.

• English is widely used as a second language, especially in education and tourism.

This report provides the complete monetary history of Cyprus, highlighting the transition from the Cypriot pound to the euro as the official currency since 2002, along with the bilingual official language context of Greek and Turkish.