Italian lira

1 EUR = 1936.27 ITL 1000 ITL = 0.51646 EUR

The Italian Lira ( ₤, ISO code ITL plural lire) was the founding of the Kingdom of Italy until 31 December 2001 the official currency in circulation in Italy. She was also in San Marino and the Vatican City from 1929 in legal tender. The currency name Lira has the same origins as the ( British ) pound, so the currency symbol ₤ is also used for both. The subunit of the lira, the Centesimo had lost its meaning long ago.

The Sammarinese lira and the Vatican lira were coupled with a fixed exchange rate of the Italian lira and ran like the Italian lira in Italy, San Marino and the Vatican City on an equal footing as legal tender by.

  • 3.1 Kingdom
  • 3.2 Republic

History

The history of the lira goes back to the Kingdom of Italy (1805-1814), which had emerged from the Cisalpine Republic by Napoleon. There, the lira was introduced to the value of the French franc. In the Latin Monetary Union was the mutual acceptance of the coins that had the same value, regulated by contract.

With the establishment of the Kingdom of Italy in 1861, the Italian lira was the official currency in circulation in Italy, and remained so until 31 December 2001.

After the Second World War, many currencies of industrial countries were member of the Bretton Woods system; the rates were largely fixed and formed not on the market. In March 1973, the system collapsed; the nominal Goldeinlösepflicht the U.S. had this already in August 1971 ( " Nixon shock" ) terminated unexpectedly. The oil crises of 1973/74 and 1979/80 contributed to inflation in many industrialized countries; Keynesian measures (eg " economic stimulus " ) proved to be a flash in the pan; there was a stagflation.

The long-lasting inflation ( it led to relatively high nominal values ​​: 1000 lire had 1999 as a purchasing power as of 2010 euros ) was not until the mid -1990s are slowed down, as many potential euro countries vigorously tried to meet the criteria for adopting the euro.

On 1 January 1999, the euro was introduced as book money (so that the exchange rates between the parties have been finally determined ) and on 1 January 2002 as cash ( see also Euro zone). The official exchange rate is 1 € = 1936.27 L.

Bills

Kingdom

In the Kingdom of Italy, the highest value of a banknote was 1,000 lire.

Republic

In the 1950s, circulated in the then fledgling Republic of Italy Banknotes 50, 100, 500, 1,000, 5,000 and 10,000 lire. In the 1960s, followed banknotes to 50,000 and 100,000 lire. In the 1970s, notes were added to 2,000 and 20,000 lire, the latter was in 1985 again removed from circulation. The last value that was added was 500,000 lire in 1997.

The bill to 500 lire was indeed replaced by a coin, but returned in 1966 back when the silver value of the coin exceeded the nominal value. The 500 - lire banknotes issued from 1966 to 1979, it is not to " notes " in the strict sense, since they were not issued by the Banca d' Italia, but the Ministry of Finance as Biglietti di Stato.

Before the introduction of euro banknotes circulating in the value of 1000, 2000, 5000, 10,000, 50,000, 100,000 and 500,000 lire ( the 500 - lira note was invalid on 28 February 1986). Until December 6, 2011, these notes could be changed at the Banca d' Italia. Banknotes from older series had already become worthless by 2006.

Kingdom

The first coins of the Kingdom of Italy were 1, 2, 5 and 10 Centesimi in copper, 20 and 50 Centesimi, 1, 2 and 5 lire in silver and higher amounts in gold.

After the First World War, new coins were issued. 5 and 10 Centesimi were smaller and the coins up to 2 lire were no longer made ​​of silver, but the new coins of 5, 10 and 20 lire.

After the Second World War, the Centesimi values ​​and the silver coins disappeared from circulation.

Republic

The new republic led Italy from 1946 new coins from an aluminum alloy to the values ​​1, 2, 5 and 10 lire. After a few years, this series has been replaced by a new series of smaller coins, but which consisted of the same aluminum alloy.

In the 1950s, followed by two coins from chrome steel to 50 and 100 lire coin of aluminum bronze 20 lire and a silver coin to 500 lire, which disappeared when the silver value exceeded the face value.

1977 was followed by an aluminum bronze coin to 200 lire and 1982 a bimetal to 500 lire. In the early 1990s, the coins were 50 and 100 lire until reduced and eventually replaced by a new edition.

In 1997, when the 1000 - lire coin was introduced, there was an error: on the map of Europe shown the inner German border was still seven years after the reunification drawn and lacked the borders of Germany to the Netherlands, Luxembourg and Denmark. In the same year a new version was issued with a corrected map.

Before the introduction of the euro, only the values ​​50, 100, 200, 500 and 1000 lire played a real role in the payments.

Although the production of coins was set to 1 and 2 lire for circulation after 1959, the coins remained valid and could as the other values ​​are exchanged until 6 December 2011.

Coin starvation has arrived was a chronic problem and the coins were replaced with candies like in everyday life. Around 1976, there was to alleviate the problem a kind of emergency money in Italy, called Miniassegni.

Gallery

1000 lire coin with intra- German border

1000 lire coin with corrected German borders

500 - lire coin

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