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The lira was adopted by the states that became the kingdom of Italy in the year 1861. Smaller denominations of money in Italy were called centesimi, where 100 centesimi = 1 lira. The lira was the currency of Italy from 1861 until 2002, when the euro became the legal tender in Italy.
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Italy saw investor demand of nearly 10 times the 15 billion euros ($16.41 billion) it was set to raise in a debt sale on Tuesday, a positive signal for Rome going into a challenging year.
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What is the present currency in Italy? Like most of the rest of the European Union, Italy uses the Euro as its currency. You'll see the Euro represented by both the symbol - € - and the initials: EUR. What happened to the Lira?
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