Saturday 17 October 2020

Introduction of the Maltese Lira (Malta, 1972)

Malta had various currencies of its own until 1825, when British currency was introduced. Pounds, shillings and pence were the norm until the early 1970s. Britain moved to a decimalised system in 1971. Malta continued to use pre-decimal British currency for another year before launching the Maltese lira. This was a decimal currency, with 100 cents or 1000 mils to the lira. Habit meant that Lira were often referred to locally as pounds, and the currency was printed in English on one side and Maltese on the other.

The lira remained the currency of Malta until 2008, when the country took on the Euro as it joined the European Union.

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