ITALY RELAXES RESTRICTIONS ON LIRA IMPORTS

  Italy is to modify restrictions limiting
  the amount of lira cash that can be brought in and out of the
  country, the Foreign Trade Ministry said.
      A statement said Foreign Trade Minister Rino Formica has
  signed a measure lifting currency regulations that currently
  impose a 400,000 lire limit on the value of lira bank notes
  that can be brought into Italy. It did not say when the new
  measure would come into force.
      In future, there will be no limit to the amount of lira
  bank notes both residents and non-residents can bring into
  Italy.
      The statement said the 400,000 lire limit would remain for
  Italian residents wishing to take cash out of the country, but
  non-residents could re-export lira cash if they made
  appropriate declarations at customs points.
      It said the lifting of the restrictions "reinforces the
  international status of the lira and meets the requirements
  expressed several times by foreign exchange dealers."
  

