Cyprus The Cyprus pound

Hristos · member

Where does the Cyprus pound come from? Was it Drachmae before?

Anybody have a little history on this?

Thanks.

Noname75 · advanced member

No, we never had drachma in Cyprus.
I know that during the time we where British colony we used pounds, but I don't know if those are directly related with what we use now.

Alasya · advanced member

You could say Cyprus uses the Lira, as "Pound" is translated as "Lira" in both Greek and Turkish on the Cyprus pound banknotes despite the British imperial pound sign.

Ottoman currency in Cyprus (for 400 years) prior to 1878 was also called "Lira" and is still called "lira" in neighbouring Turkey.

Could this be were it came from?

devil · lecturer

During British colonial days, the pound in Cyprus was made the same as the pound sterling and was interchangeable. Like UK currency, it was divided into 20 shillings but, unlike the UK, the shilling was divided into 9 piastres which, I believe, had a similar value to the prior Ottoman piastre. The ¼, ½ and 1 copper piastre coins were not round but had a scalloped edge. The 4½ piastre silver coin was like a UK sixpenny bit ("tanner"), as were the shillings and two-shilling pieces. Unlike the UK, there was a five-shilling note.

If I remember correctly it was 1953 or 1954 that the shillings and piastres were replaced by an unpopular 1000 mils to the pound. I can't remember when, in the 1960s, I think, the mils were replaced by cents. The pound has been continuous since colonial days but, of course, it was no longer rigidly tied in value to the UK pound, so devalued less in the 1970s, which it is why it is still worth slightly more.

brother · professor

barrel of info. from the devil Very Happy