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)
Exeter pound Interest Company and made a profit by setting an "expiry date" on each note, which was identified in very small print on the note itself, often overlooked at the point of exchange. This meant that many notes although paid for at the equivalent value in sterling could not actually be spent if not used by the specified deadline. Previous to the Exeter Pound, local currencies were launched in the UK in Bristol (2012), Totnes (2006), Lewes (2008), Brixton (2009) and Stroud (2010). Exeter pound The Exeter Pound (£E) was a form of local complementary currency, or community currency launched in