Currency of Italy

Lira
Lira is the name of the monetary unit of a number of countries, as well as the former currency of Italy, San Marino and the Vatican City.

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.

Former currencies
Perhaps the best known "lira", 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.