Italian Lira

The currency of Italy is the Euro. However, prior to the Euro, the currency of Italy was the Italian Lira. The Italian Lira was first introduced in 1861 and was in circulation until 2002 when the Euro was introduced. The Italian Lira was subdivided into 100 centesimi and was made up of both coins and banknotes. The Italian Lira was replaced by the Euro at a rate of 1 Euro = 1936.27 Lira.