Maltese lira

1 EUR = 0,4293 MTL 1 MTL = 2.3295 EUR

The Maltese Lira (Maltese: lira Maltija, ch, £, ISO code: MTL) was until 31 December 2007, the currency of Malta. A Lira divided into 100 cents and 1000 mils, and the use of Mils has been uncommon in the 1980s. On 1 January 2008 the lira was replaced by the euro. The lira was the successor of the Maltese pound, as the lira is still sometimes referred to.

Coins there were 1, 2, 5, 10, 25, and 50 cents, and 1 lira banknotes and 2, 5, 10 and 20 lira. Until 1981, 2 -, 3 - and 5 - mils embossed pieces.

Euro introduction

On 1 May 2004 Malta joined the EU. Together with Latvia and Cyprus on April 29, 2005, the accession to ERM II As part of the ERM II entry, the lira was tied on 29 April 2005 exclusively on the euro.

On 27 February 2007 Malta has officially submitted the application for admission to EMU. On 16 May 2007, the European Commission called for the inclusion of Cyprus and Malta into the euro zone. On June 5, voted in the last instance, the finance ministers unanimously in favor of Malta's accession to the EMU. On 10 July 2007, the EU finance ministers set the exchange rate fixed to 1 euro to 0.429300 lira. On 1 January 2008 Malta formally introduced the euro.

When the price change, the old amounts to EUR cents were exactly equivalent in most cases. Therefore, there is in Malta is currently a lot of " odd" amounts that have emerged from the former " round " ch amounts. Until 30 September 2008, it was common in Malta, in addition to the Euro - prices even expel the old prices in ch.