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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.
Italy Currency
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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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Italian Currency: An Overview. As mentioned, the currency used in Italy is the Euro, which is also the official currency of the Eurozone. The Euro was adopted on January 1st, 1999, although coins and banknotes weren't put into circulation until January 1st, 2002 (and that was following decades of preparation; it takes a lot to switch several countries over to a single common currency).
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