Italian lira Did You Mean Italian?

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Italian lira

Vittorio Emanuele II: 1 Italian lira 1863

Lira is the name of the former currency of Italy.

The term originates from the value of a Troy pound weight (Latin libra) of high purity silver, and as such is a direct cognate of the British pound sterling; in some countries, such as Cyprus, the words lira and pound are used as equivalents. L, sometimes in a double-crossed script form (₤), is usually used as the symbol. It was formerly subdivided into 100 centisimi

Have to see

1 History
2 Coins
3 Banknotes
4 Currencies formerly related to the Italian lira
- 4.1 Vatican City
- 4.2 San Marino
5 Restoration?
6 External link

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History

Perhaps the best known "lira", the Italian lira (plural lire) 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 was 1936.27 lire to the euro.

The lira ultimately dates back to medieval times when, like the Pound sterling, it represented one troy pound of silver, and was equal to 240 denari. Before unification, many of the Italian states used the lira as their currency. Upon the creation of the Kingdom of Italy, a unified Lira was established, at 4.5 grams of silver, as part of the Latin Monetary Union.

World War I broke the Latin Monetary Union, and resulted in prices rising severalfold in Italy. Inflation was curbed somewhat by Mussolini, who, on August 18, 1926, declared that the exchange rate between lira and Pound would be £1 = 90 Lire, although the free exchange rate had been closer to 140-150 lire per pound. Inflation once again resurged during World War II, and during the post-War era, several episodes of high inflation continued its erosion, until it was replaced by the Euro. 1

Coins

Coins still minted at the time of the changeover to Euro 2

1 lira (.052 Eurocents; uncirculated, proof sets only)
2 lire (0.103 cents; uncirculated, proof sets only)
5 lire (0.258 cents; uncirculated, proof sets only)
10 lire (.52 Eurocents; rarely used)
20 lire (1.03 cents; rarely used)
50 lire (2.58 cents)
100 lire (5.16 cents)
200 lire (10.29 cents)
500 lire (25.82 cents)
1,000 lire (51.65 cents)

Banknotes

1,000 lire (51.65 cents) 3
2,000 lire (1.03 Euro)
5,000 lire (2.58 Euro)
10,000 lire (5.16 Euro)
50,000 lire (25.82 Euro)
100,000 lire (51.65 Euro)
500,000 lire (258.23 Euro)

Currencies formerly related to the Italian lira

Vatican City

The Vatican lira (plural lire) was the official unit of the Vatican City State. Vatican City. It was on par to the Italian lira on the terms on the concordat with Italy. Italian lira notes and coins were legal tender throughout the Vatican City State. Specific Vatican coins were minted in Rome, being legal tender also in Italy and San Marino.

The Vatican City state has switched to the euro like Italy. As with old vatican lira coins, the Vatican City has its own set of euro coins.

San Marino

The San Marino lira (plural lire) was the official unit of San Marino. It was on par to the Italian lira.

Italian lira notes and coins were legal tender in San Marino, but specific San Marinese coins were minted in Rome, being legal tender in all Italy, as well as the Vatican City.

San Marino has switched to the euro like Italy. As with old San Marino lira coins, this country has its own set of euro coins.

Restoration?

There is currently a movement in Italy to restore the Lira 4.

External link

Overview of Italian lira from the BBC

Pre-euro currencies and non-euro currencies

Eurozone	Austrian schilling \| Belgian franc \| Dutch guilder \| Finnish markka \| French franc \| German mark \| Greek drachma \| Irish pound \| Italian lira \| Luxembourg franc \| Portuguese escudo \| San Marinese lira \| Spanish peseta \| Vatican lira
ERM	Cypriot pound \| Danish krone \| Estonian kroon \| Latvian lat \| Lithuanian litas \| Maltese lira \| Slovenian tolar
Other EU	British pound \| Czech koruna \| Hungarian forint \| Polish zloty \| Slovak koruna \| Swedish krona

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