The ECB published daily euro foreign exchange reference rates for Cyprus pounds (CYP), which were calculated on the basis of the concertation between central banks at 14.15. From 7 December 2007, the ECB published the euro reference rate for Cyprus pounds to six decimal places. For technical reasons, the exchange rates up to 6 December were extended from five to six decimal places. Cyprus joined the euro area on 1 January 2008; irrevocable euro conversion rate: EUR 1 = CYP 0.585274.
