ITL · ITL
Italian Lira (ITL)
The Italian Lira (ITL) was the official currency of Italy from 1861 until its replacement by the euro in 2002. This page provides a factual overview of its history, denominations, and legacy.
Convert this currency
Converted amount
0.0006 USD
Exchange rate
1 ITL = 0.000588 USD
Updated
8/9/2026 12:00 AM
Source
ApiForex Managed Source 3
ITL · Italian Lira
Italian Lira (ITL): Overview and History
The Italian Lira (ITL) served as Italy's national currency for over 140 years, from unification in 1861 until the adoption of the euro in 2002. Throughout its existence, the lira underwent numerous changes, including periods of high inflation and revaluations, reflecting Italy's economic and political history. The currency was subdivided into 100 centesimi, although centesimi coins were rarely used in later years due to inflation.
Banknotes and coins of the lira featured notable Italian figures, landmarks, and artistic achievements. The Bank of Italy issued banknotes in various denominations, while the state mint produced coins. Over time, the lira experienced significant depreciation, especially during the 1970s and 1980s, leading to the introduction of higher denomination notes and the eventual convergence criteria for the euro.
On January 1, 1999, the lira became a subunit of the euro at an irrevocable fixed exchange rate of 1,936.27 lire per euro, and euro coins and notes began circulating in 2002. The lira ceased to be legal tender on February 28, 2002, but banknotes and coins could be exchanged at the Bank of Italy for a limited period. Today, the lira remains a symbol of Italy's pre-euro era and is of interest to collectors and historians.
- Code
- ITL
- Symbol
- ITL
- Current rate
- USD / ITL
Currency information
Last updated · 8/7/2026
The Italian Lira was introduced in 1861, when Italy became a unified country, replacing various pre-unification currencies.
- Official name
- Italian Lira
- Legal tender status
- Withdrawn
- Decimal places
- 0
- Minor unit
- Centesimo · 1 ITL = 100 Centesimo
- Countries
- Italy
- Territories
- San Marino, Vatican City
- Issuing authority
- Banca d'Italia
- Central bank
- Banca d'Italia · Official website
- Exchange-rate regime
- Fixed to the euro at a rate of 1 EUR = 1936.27 ITL
Common banknotes
1,000 lire · 2,000 lire · 5,000 lire · 10,000 lire · 50,000 lire · 100,000 lire · 500,000 lire
Common coins
1 lira · 2 lire · 5 lire · 10 lire · 20 lire · 50 lire · 100 lire · 200 lire · 500 lire · 1,000 lire
Also known as
Lira · Italian Lira · ITL · ₤
Practical notes
- The lira was subdivided into 100 centesimi, but centesimi coins were rarely used due to inflation.
- The symbol ₤ was commonly used, but the abbreviation Lit. was also used.
Priority currency pairs
The most useful conversions for this currency.
Italian Lira questions
What is the ITL exchange rate?
The displayed rate is the latest available reference rate for USD/ITL. It can change throughout the day.
How can I convert ITL online?
Use the converter above to calculate indicative amounts between ITL and the other supported currencies.