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Commemorative coin of the Republic of Cyprus, 2 euros, issued in 2023 with a circulation of 385,000 copies. Dedicated to the 60th anniversary of the establishment of the Central Bank of Cyprus. Minted in Suomen Ragapa Oy (Finland). Bimetallic, diameter 25.75 mm, weight 8.5 g.
Overse
In the center of the coin is depicted the modern building of the Central Bank of Cyprus in Nicosia - the headquarters of the bank, which serves as a symbol of its authority and role in the national and European financial system. Around the image are the inscriptions: "ΚΥΠΡΟΣ — KIBRIS" (Cyprus in Greek and Turkish), "ΚΕΝΤΡΙΚΗ ΤΡΑΠΕΖΑ ΤΗΣ ΚΥΠΡΟΥ 1963-2023" (Central Bank of Cyprus 1963-2023). The outer ring of the coin features the 12 five-pointed stars of the European Union.
Reverse
The reverse is the common side of the 2 euro coins of the second type, designed by Luc Luix (Royal Belgian Mint). It depicts a map of Europe as a single continent without internal borders, a symbol of European unity. On the left is a large denomination "2" and the inscription "EURO", on the right is a map with six thin horizontal lines in the background. On the outer ring are the 12 stars of the European Union. The band is finely fluted and has the inscription "2 ★" repeated six times, alternating upright and inverted.
Historical context
The Central Bank of Cyprus (CBC) is the national central bank of the Republic of Cyprus, established on 19 December 1963 by the Central Bank Act of 1963, immediately after Cyprus declared its independence from Great Britain on 16 August 1960. Prior to this, Cyprus had used the Cyprus pound, issued by the colonial Monetary Authority since 1914. The first Governor of the CBC was Fivaidos Koukkelis. Throughout its history, the CBC has controlled monetary policy, the issuance of the Cyprus pound, banking supervision and payment systems. On 1 January 2008, when Cyprus joined the euro area, the CBC became the national central bank of the Eurosystem under the leadership of the European Central Bank, and the Cyprus pound was replaced by the euro. The headquarters are in Nicosia, on John F. Kennedy Street. The Governor of the CBC is a member of the General Council of the European Central Bank.