The Cypriot Pound was the official currency of Cyprus until 2008 when it was replaced with the Euro. Synonyms for the Cypriot Pound include the Cyprus Pound, the Lira, and the Cypriot Lira. The Cyprus Pound was initially introduced in 1879 and was pegged to the British Pound until the country gained independence in 1960. The Cypriot Lira was then introduced in 1963, which was replaced by the Cyprus Pound in 1983. The currency was phased out in 2008 in response to Cyprus's accession to the European Union. Although the Cypriot Pound is no longer in use, it remains a significant part of the country's financial history.