The Irish Monetary Unit (IMU) is the currency used in Ireland before the adoption of the euro in 2002. There are several synonyms for the IMU, including the Irish pound, Irish punt, punt Éireannach (in Irish language), or simply punt. The word "punt" is derived from the Irish-Gaelic "punt" meaning "money". The Irish pound was in use from 1928 to 2002 and was subdivided into 100 pence. The IMU had several banknotes and coins, with various designs and denominations ranging from 5 pence to IR£50. The advent of the euro has replaced the IMU in Ireland and made life easier for Irish residents and visitors alike, with a single currency used across the Eurozone.