Information on currency : Maltese lira

Page last updated on December 9, 2023

Currency code (ISO 4217):

MTL

Numeric code:

470

Currency symbol:

Subunit (quantity):

Cent (100)

Country or territory:

Malta (MT)

Status:

No longer in use

Replaced by

Euro (EUR)

Exchange rate mechanism:

Monetary authority:

(created: )

The Maltese Lira was the official currency of Malta before the country adopted the Euro. It was in use from 1972 to 2008.

The Maltese Lira was introduced after Malta gained independence in 1971. It was replaced by the Euro on January 1, 2008, when Malta, along with several other European countries, adopted the common currency.

Subunits

The Maltese Lira was divided into 100 cents.

Coins and Banknotes

The Maltese Lira had various denominations of coins and banknotes. Coins were issued in cents and Lira, while banknotes were issued in various denominations.

Euro Adoption

Malta adopted the Euro on January 1, 2008. From this date, the Maltese Lira ceased to be legal tender, and all transactions switched to the Euro.

Since the adoption of the Euro, the Maltese 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 Malta.

Exchange Rate

The exchange rate at which the Maltese Lira was replaced by the Euro was fixed at 1 Euro = 0.4293 Maltese Lira.