Which currency was Italy’s official money before the euro?

Italy’s official currency before the euro was the Italian lira. The lira was Italy’s monetary unit from 1861 until it was replaced by the euro, first for electronic transactions in 1999 and then as cash in 2002.

The Italian lira was created after the unification of Italy. Its name came from the Latin libra, meaning “pound,” reflecting the historical use of a pound of silver as a monetary standard. The lira was subdivided into 100 centesimi, although inflation eventually made the smallest denominations impractical.

Italy fixed its conversion rate at 1 euro = 1,936.27 lire. Lira banknotes and coins ceased to be legal tender on 28 February 2002, when euro cash fully replaced national currencies across the euro area. The lira is distinct from the Turkish lira, despite the currencies sharing the same historical name.