At first, the sea was formed around 5.6 million years ago, due to a large-scale flood, but the waters were separated from the Atlantic Ocean by the Strait of Gibraltar, so, in the hundreds of thousands of years that followed, the water spreads dried out almost completely.
The Irish Punt was legal tender in the Republic of Ireland until 2002, when Ireland joined the Euro. This guide outlines the sources for historical exchange rates between the Irish Punt and Pound Sterling. The Irish Punt established by the Currency Act 1927 had a fixed link with Pound Sterling until March 1979.
Its ISO 4217 code was IEP, and the usual notation was the prefix Â£ (or IRÂ£ where confusion might have arisen with the pound sterling or other pounds). The Irish pound was superseded by the euro on 1 January 1999.Euro currency did not begin circulation until the beginning of 2002.ts ISO 4217 code was IEP, and the usual notation was the prefix Â£ (or IRÂ£ where confusion might have arisen with the pound sterling or other pounds). The Irish pound was superseded by the euro on 1 January 1999.