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Economy and Finance

Malta and the euro

Malta joined the European Union in 2004 and adopted the euro on 1 January 2008.


Euro-area member since 1 January 2008.

Fixed conversion rate

€1= 0.429300 MTL

Adoption of the euro

Malta chose a 'big bang' scenario, with cash entering use on the same day that the euro officially became the country’s new currency (1 January 2008), and a dual circulation period running until 31 January 2008 during which payments could be made using both Maltese lira notes and coins as well as the euro.

Exchange of former national currency

The Central Bank of Malta exchanged Maltese lira coins until 1 February 2010 and will continue to exchange Maltese lira banknotes until 31 January 2018.