Information about currency: Italian Lira

Italian Lira (1861 - 2002)
Currency NameItalian Lira
System1 Lira = 100 Centesimi
ISO CodeITL
Description

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.

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 dialects in north-western Italy, the lira was outright called "franc".

The term originates from the value of a 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 and Malta, the words lira and pound were used as equivalents, before the euro was adopted in 2008 in the two countries. "L", sometimes in a double-crossed script form ("₤"), was the symbol most often used. Until the Second World War, it was subdivided into 100 centesimi (singular: centesimo), which translates to "hundredths" or "cents".

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Italian Lira: Details
Issued ByItaly
From1861
To2002
Italian Lira: Users
CountryPeriodFromTo
Flag of Italy Italy Italian Lira 1861 2002
Flag of San Marino San Marino Italian Lira 1861 2002
Flag of Somaliland, Italian Somaliland, Italian Italian Lira 1890 1941
Flag of Vatican Vatican Italian Lira 1929 2002
Flag of Albania Albania Italian Lira 1941 1943
Italian Lira: Related Currencies