What is the Currency of Italy?

Italy is a country in Europe that uses the Euro as its official currency. There are banknotes for 5, 10, 20,50,100,200, and 500 euros with coins valued at 1 or 2,5,10,20,50 cents and 1 o 2 €. Before the euro, Italy used the Lira as its official currency which was definitively replaced with the Euro on 28 February 2002. The introduction of the euro in Italy was not an easy task. The country had to deal with two different currencies for three years before they could change over completely and become one currency again.

What is the currency exchange rate in Italy?

The exchange rate fluctuates every day, on 28-01-2022 at noon it was 1 € = 1.11 $ ($). You can always stay updated by checking online.

How does currency exchange work?

The European System of Central Banks (ESCB) has established a regulating procedure of reference exchange rates of the euro which takes place every day at 14:15 (CET). They are based on a daily concentration procedure between the main central banks. The published exchange rates represent the average of the trading rates and reflect the current market conditions at the time of the consultation.