Complete the sentence about Cyprus pound with the correct year: The Currency Board could issue notes and coins, initially denominated in pounds, shillings and piastres, and later, following decimalization in ______, in pounds and mils.
Answer and explanation
Correct answer: A. 1955
The Cypriot pound was the currency of Cyprus until the euro arrived. Its Currency Board could issue notes and coins first in pounds, shillings and piastres, and after decimalization in 1955 in pounds and mils, although the pound stayed pegged at par with sterling and the Bank of England kept ultimate fiscal control.
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