1 RMB (Chinese Yuan Renminbi - CNY) is approximately equal to 0.0811 CYP (Cyprus Pound). It was the official currency of Cyprus. It is also known as the Lira. In 2008 Cyprus Pound was replaced by Euro. CYP (Cyprus Pound) has been pegged to the Euro as 1 Euro = 0.585274 Cyprus Pounds. The cyprus currency is governed by the Central Bank of Cyprus. The Cyprus Pound is divided into 1 CYP = 100 Cents and 1 CYP = 1000 Mils.