Italian lira
The lira (/ˈlɪərə/ LEER-ə, Italian: [ˈliːra]; pl.: lire, /ˈlɪəreɪ/ LEER-eh, Italian: [ˈliːre]) was the currency of Italy between 1861 and 2002. It was introduced by the Napoleonic Kingdom of Italy in 1807 at par with the French franc, and was subsequently adopted by the different states that would eventually form the Kingdom of Italy in 1861. It was subdivided into 100 centesimi (sg.: centesimo), which means "hundredths" or "cents". The lira was also the currency of the Albanian Kingdom from 1941 to 1943.
| Lira italiana (Italian) | |||||
|---|---|---|---|---|---|
| |||||
| ISO 4217 | |||||
| Code | ITL | ||||
| Unit | |||||
| Plural | Lire | ||||
| Symbol | ₤ None official (see § Notation and symbols) | ||||
| Denominations | |||||
| Subunit | |||||
| 1⁄100 | Centesimo (withdrawn after World War II) | ||||
| Plural | |||||
| Centesimo | Centesimi | ||||
| Banknotes | |||||
| Freq. used | 1,000, 2,000, 5,000, 10,000, 50,000, 100,000 lire | ||||
| Rarely used | 20,000, 500,000 lire | ||||
| Coins | |||||
| Freq. used | 50, 100, 200, 500, 1,000 lire | ||||
| Rarely used | 1 lira, 2, 5, 10, 20 lire | ||||
| Demographics | |||||
| User(s) | None, previously:
Kingdom of Albania (1939–43) | ||||
| Issuance | |||||
| Central bank | Banca d'Italia | ||||
| Website | www | ||||
| Printer | Istituto Poligrafico e Zecca dello Stato | ||||
| Website | www | ||||
| Mint | Istituto Poligrafico e Zecca dello Stato | ||||
| Website | www | ||||
| Valuation | |||||
| Inflation | 2.3% (2001) | ||||
| EU Exchange Rate Mechanism (ERM) | |||||
| Since | 13 March 1989, 25 November 1996 | ||||
| Withdrawn | 17 September 1992 | ||||
| Fixed rate since | 31 December 1998 | ||||
| Replaced by euro, non cash | 1 January 1999 | ||||
| Replaced by euro, cash | 1 March 2002 | ||||
| 1 € = | Lit 1,936.27 | ||||
| This infobox shows the latest status before this currency was rendered obsolete. | |||||
The term originates from libra, the largest unit of the Carolingian monetary system used in Western Europe and elsewhere from the 8th to the 20th century. The Carolingian system is the origin of the French livre tournois (predecessor of the franc), the Italian lira, and the pound unit of sterling and related currencies.
In 1999, the euro became Italy's unit of account and the lira became a national subunit of the euro at a rate of €1 = Lit 1,936.27, before being replaced as cash in 2002.