British currency in the Middle East pound sterling until 1972, some twelve years after Cyprus gained independence from the United Kingdom. Initially the Cyprus pound was divided into 20 "shillings" ("σελίνι" / "σελίνια", "şilin"), in common with its United Kingdom counterpart. However, unlike the United Kingdom shilling, the Cyprus shilling was divided into 9 "piastres" ("γρόσι" / "γρόσια", "kuruş"), thus establishing a nomenclature link to earlier Ottoman currency. The piastre was itself divided into 40 "para" (like the kuruş). The para denomination did not appear on any coins or banknotes but was used on postage stamps. However, the -piastre coin was equal to 10 para (παράδες)
Non-decimal currency said to have become the first decimalized currency when Peter the Great established the ratio 1 ruble = 100 kopecks in 1701. The Japanese were in some sense earlier calculating with the silver momme and its decimal subunits - but then the momme was not a coin but a unit of weight equivalent to 3.75 g: accounting was by weight of silver. The British pound sterling was the last major currency to be decimalized, on 15 February 1971. The Maltese waited just one year (1972) before following suit and Nigeria followed in 1973. An early proposal for decimalizing the pound