Conversion Input
Key Facts
Conversion Results
Historical Currency Analysis
Italian Lira Value Over Time (1950-2001)
Currency Distribution Comparison
Inflation Calculator
Understanding Italian Inflation
Italy experienced varied economic periods post-WWII. The "Boom Economico" of the 50s and 60s saw stable growth, but the 1970s and early 80s were characterized by very high inflation (sometimes exceeding 20% annually). Consequently, 1,000 Lire in 1960 bought significantly more than 1,000 Lire in 2001. This calculator adjusts for these historical Consumer Price Index (CPI) changes.
Inflation Milestones
Italian Lira Information
Historical Overview
The Italian Lira (ITL) was the currency of Italy between 1861 and 2002. Due to inflation, the currency used large denominations, with banknotes reaching 500,000 Lire. Despite its devaluation over time, it underpinned Italy's rise to becoming one of the world's largest economies (G7). On January 1, 2002, it was replaced by the Euro at a fixed rate of 1936.27 Lire.
Key Historical Facts
Currency Denominations (Final Series)
50, 100, 200 Lire
500, 1000 Lire (Bimetallic)
1,000 (Montessori), 2,000 (Marconi)
10,000 (Volta), 50,000 (Bernini)
100,000 (Caravaggio), 500,000 (Raphael)
Exchange to Euro
The irrevocable conversion rate was set on December 31, 1998, at 1 EUR = 1936.27 ITL. This meant 1,000 Lire was roughly equivalent to 0.52 Euro. The Bank of Italy (Banca d'Italia) continued to exchange Lira notes and coins for Euros for ten years after the transition, stopping in 2012.