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Italy and the euro

03 February 2008
by eub2 -- last modified 03 February 2008

Italy is a founding member of the European Union and was one of the first-wave EU countries to adopt the euro on 1 January 1999.


Italy at a glance

Surface area: 301 340 km2
Population: 59 131 287 (Eurostat 2007)
Joined the European Union: Founding member (25 March 1957)
Currency: Euro since 1 January 1999 (formerly Italian lira, ITL)

Euro information

Status: 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) will continue to exchange Italian lira banknotes and coins until 29 February 2012.

Opinion polls and surveys


Euro websites




Source: European Commission