What is the currency of Italy?
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The lira was made the official currency of Italy in 1861 after the Italian unification, however stopped being used in 2002. The euro coinage system entered circulation in Italy in 2002 and is currently the official currency.
History of coins in Italy
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The lira was the official unit of currency in Italy until 1 January 1999, when it was replaced by the euro (euro coins and notes were not introduced until 2002). Old lira denominated currency ceased to be legal tender on 28 February 2002. The conversion rate is 1,936.27 lire to the euro.
All lira banknotes in use immediately before the introduction of the euro, as all post WW2 coins, are still exchangeable for euros in all branches of the Bank of Italy until 29 February 2012.
History of coins in Italy
990886#0
The lira (; plural lire ) was the currency of Italy between 1861 and 2002 and of the Albanian Kingdom between 1941 and 1943. Between 1999 and 2002, the Italian lira was officially a national subunit of the euro. However, cash payments could be made in lira only, as euro coins or notes were not yet available. The lira was also the currency of the Napoleonic Kingdom of Italy between 1807 and 1814.
Italian lira
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The lira was the official unit of currency in Italy until January 1, 1999, when it was replaced by the euro (euro coins and notes were not introduced until 2002). Old lira denominated currency ceased to be legal tender on February 28, 2002. The conversion rate is 1,936.27 lire to the euro.
Italian lira
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Italy is part of the European single market which represents more than 500 million consumers. Several domestic commercial policies are determined by agreements among European Union (EU) members and by EU legislation. Italy introduced the common European currency, the Euro in 2002. It is a member of the Eurozone which represents around 330 million citizens. Its monetary policy is set by the European Central Bank.
Italy
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Upon the creation of the Kingdom of Italy under Vittorio Emanuele II (1861), a unified lira was established, at 4.5 grams of silver or 290.322 milligrams of gold. This was a direct continuation of the Sardinian lira. Other currencies replaced by the Italian lira included the Lombardy-Venetia pound, the Two Sicilies piastra, the Tuscan fiorino, the Papal States scudo and the Parman lira. In 1865, Italy formed part of the Latin Monetary Union in which the lira was set as equal to, among others, the French, Belgian and Swiss francs: in fact, until the introduction of the euro in 2002, people speaking the Gallo-Italic dialects in north-western Italy usually called ""franc"" the lira.
History of coins in Italy
990886#2
The lira was established at 4.5 grams of silver or 290.322 milligrams of gold. This was a direct continuation of the Sardinian lira. Other currencies replaced by the Italian lira included the Lombardy-Venetia pound, the Two Sicilies piastra, the Tuscan fiorino, the Papal States scudo and the Parman lira. In 1865, Italy formed part of the Latin Monetary Union in which the lira was set as equal to, among others, the French, Belgian and Swiss francs: in fact, in various Gallo-Italic languages in north-western Italy, the lira was outright called ""franc"". This practice has obviously ended with the introduction of the euro in 2002.
Italian lira
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The Parman lira was Parma's official currency before 1802, and later revived from 1815 to 1859. The Duchy of Parma had its own coinage system until it was made a part of France in 1802. This lira was subdivided into 20 "soldi" (singular: "soldo"), each of 12 "denari" (singular: "denaro"), with the "sesino" worth 6 denari and the "ducato" was worth 7 lire. The currency was replaced by the French franc.
History of coins in Italy
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The quattrino is an ancient Italian currency denomination largely used in Central Italy, especially in Tuscany and Rome. Its name derives from the Latin "quater denari", because its value was equal to four "denari". Consequently, its value was one third of a soldo. It disappeared after the unification of Italy in 1861, when the Italian lira was introduced as an equivalent of the french franc.
Quattrino
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On 15 May 1991, Italy became the fourth worldwide economic power, overcoming France, called the "secondo sorpasso" with a GDP of US$1.268 trillion, compared to France's GDP of US$1.209 trillion and Britain's of US$1.087 trillion. Despite the alleged 1987 GDP growth of 18% according to the Economist's Italy was then re-overtaken by all countries due to currency value change.
Economic history of Italy