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The lira (/ ˈ l ɪər ə / LEER-ə, Italian:; pl.: lire, / ˈ l ɪər eɪ / LEER-eh, Italian:) [1] was the currency of Italy between 1861 and 2002. It was introduced by the Napoleonic Kingdom of Italy in 1807 at par with the French franc , and was subsequently adopted by the different states that would eventually form the Kingdom of Italy in 1861.
The Quota 90 (Italian: Quota novanta) was a controversial revaluation of the lira undertaken by Mussolini, announced on August 18, 1926, at a speech in Pesaro, pegging the exchange rate to Lit. 92.46 to £1 stg (19 lire against the US Dollar) [1] by December 1927, which had been the prevailing market rate when Mussolini took power in 1922.
This is a list of historical currencies. Ancient Mediterranean. Greece. Aeginian stater (gold) ... Lira. Italian East African lira; Italian Somaliland lira;
Lira is the name of several currency units. It is the current currency of Turkey and also the local name of the currencies of Lebanon and of Syria.It is also the name of several former currencies, including those of Italy, Malta and Israel.
The ISO 4217 currency code for the lira was ITL. The Italian lira was the official unit of currency in Italy until 1 January 1999, when it was replaced by the euro (euro coins and notes were not introduced until 2002). Old lira denominated currency ceased to be legal tender on 28 February 2002. The conversion rate is 1,936.27 lire to the euro. [40]
In 1939, the "official" rate was 19.8 lire. After the Allied invasion of Italy during World War II, an exchange rate was set at US$1 = 120 lire (1 British pound = 480 lire) in June 1943, reduced to 100 lire the following month. In German-occupied areas, the exchange rate was set at 1 Reichsmark = 10 lire.
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The European Monetary System lasted from 1979 to 1999, when it was succeeded by the Economic and Monetary Union (EMU) and exchange rates for Eurozone countries were fixed against the new currency the Euro. [7] The ERM was replaced at the same time with the current Exchange Rate Mechanism (ERM II).