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 November 2007 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.
