Cypriot Monetary Unit, the official currency of Cyprus, can be referred to with different synonyms. The most commonly used alternative name for this currency is the Euro, as Cyprus has been a part of the Eurozone since 2008. However, prior to adopting the Euro, the Cypriot Monetary Unit was known as the Cypriot Pound or Lira. Other synonyms that can be used include Cypriot Euro or simply CYE, the ISO 4217 code used to represent this currency. Regardless of what name is used, the Cypriot Monetary Unit remains an integral part of the island nation's economy and plays a critical role in facilitating trade and commerce within the country and beyond its borders.