Information on currency : Italian lira

Page last updated on December 9, 2023

Currency code (ISO 4217):

ITL

Numeric code:

380

Currency symbol:

Subunit (quantity):

None

Country or territory:

Italy (IT)

Status:

No longer in use

Replaced by

Euro (EUR)

Exchange rate mechanism:

Monetary authority:

(created: )

The Italian Lira was the official currency of Italy before the country adopted the Euro. It was in use from 1861 to 2002.

The Italian Lira was introduced after the unification of Italy in 1861. It was replaced by the Euro on January 1, 2002, when Italy, along with several other European countries, adopted the common currency.

Subunits

The Italian Lira was initially divided into 100 centesimi, this subdivision was abolished however after World War II.

Coins and Banknotes

The Italian Lira had various denominations of coins and banknotes. Coins were issued in centesimi and Lire, while banknotes were issued in various denominations.

Euro Adoption

Italy adopted the Euro on January 1, 2002. From this date, the Italian Lira ceased to be legal tender, and all transactions switched to the Euro.

Since the adoption of the Euro, the Italian Lira is no longer in circulation, and any remaining banknotes and coins are considered collector's items. The Euro is now the official currency used in Italy.

Exchange Rate

The exchange rate at which the Italian Lira was replaced by the Euro was fixed at 1 Euro = 1,936.27 Italian Lira.