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Economy and Finance

Italy and the euro

Italy is a founding member of the European Union and one of the firstcountries to adopt the euro on 1 January 1999.


Euro-area member since 1 January 1999.

Fixed conversion rate:

€1 = 1 936.27 ITL

Adoption of the euro

The euro banknotes and coins were introduced in Italy on 1 January 2002, after a transitional period of three years when the euro was the official currency but only existed as 'book money'. The dual circulation period – when both the Italian lira and the euro had legal tender status – ended on 28 February 2002.

Exchange of former national currency

The Banca d’Italia (National Central Bank of Italy) exchanged Italian lira banknotes and coins until 29 February 2012.