The lira (, plural: liri, ISO 4217 code : MTL)  was the currency of Malta from 1972 until 31 December 2007. The lira was abbreviated as Lm, although the traditional ₤  sign was often used locally. In English , the currency was still frequently called the pound because of the past usage of British currency on the islands . The euro replaced the Maltese lira as the official currency of Malta on 1 January 2008 at the irrevocable fixed exchange rate of €1 per 0.4293 lira . Emergency issues between 1914 and 1918 were in denominations of 5 and 10 shillings,  1,  5 and 10 pounds. In 1940, notes dated 13 September 1939 in denominations of shillings (half crown) , 5 shillings (crown ), 10 shillings and 1 pound were issued, followed late in the year by a provisional 1 shilling note overprinted on an old 2 shilling dated 20 November 1918. Note production continued after the Second World War in denominations of 10 shillings and 1 pound, with 5-pound notes reintroduced between 1961 and 1963. Banknotes issued by the Government of Malta and then by the Central Bank of Malta were written in English up to 1972, with the denomination  pounds (or shillings). From 1973 to 1985, they were written in Maltese on the obverse using the denomination liri, and in English on the reverse using pounds. From 1986 to 2007, Maltese and liri were used on both sides.Banknote World - Malta The Maltese lira was replaced by the euro as the official currency of Malta at the irrevocable fixed exchange rate of 0.429300 MTL per 1 EUR. However, Maltese lira banknotes and coins continued to have legal tender status and were accepted for cash payments until 31 January 2008. Maltese liri were convertible free of charge at all Maltese credit institutions until 30 March 2008. Maltese coins were convertible at the Central Bank of Malta until 1 February 2010, and banknotes remained convertible until 31 January 2018. The currency entered the ERM II on 2 May 2005, by which its value had to be maintained within a 15\% band around the central parity rate of 0.429300 LM per euro. The Central Bank of Malta and Maltese Government unilaterally decided to keep the actual LM /euro exchange rate equal to the central parity rate (i.e., doing away with the 15\% band) throughout the ERM II period. The irrevocable fixed conversion rate was established by the ECOFIN on 10 July URL at 0.4293 lira to one euro. Coins 300px|Maltese 2 cents coin, 1976 Decimal coinage was introduced in 1972 (one year after the United Kingdom) in denominations of 2, 3, and 5 mils, 1, 2, 5, 10, and 50 cents. The division of the lira into 100 cents (rather than the 240 pence of the old system) meant that the cent was a relatively large unit - the United Kingdom introduced the decimal penny for this reason. Malta went further in introducing the mil, equal to cent. There was no one-mil coin. However, the coins that were provided (2  , 3  , and 5 mils ) allowed goods to be priced (and change given) for any number of mils. In 1975, a 25-cent coin was introduced. A new coinage was issued in 1986 in denominations of 1, 2, 5, 10, 25 and 50 cents and 1 lira . A third series was introduced in 1991 due to the change in Malta's coat of arms. The mils were withdrawn in 1994, although for some time only the 5 mils had been seen (and then only rarely). On 15 January 1973, banknotes were introduced, denominated in liri on the obverse and pounds on the reverse, in denominations of 1, 5 and 10 liri . In 1986, 1 lira notes were replaced by coins and 2 lira and 20 lira notes were introduced. Four series had been issuing, designated the second to the fifth series by the Central Bank, with the first series in the pound. Banknote Series the Maltese lira Series Symbol Denominations Date of issue 2nd ₤M ₤M1, 5, 10 1973 3rd 1979 4th Lm Lm2, 5, 10, 20 1986 5th 1989
The lira (, plural: liri, ISO 4217 code : MTL) or pound (until 1986 in English) was the currency of Malta from 1972 until 31 December 2007. After 1986 the lira was abbreviated as Lm, although the original ₤ M sign was often used locally. In English the currency was still frequently called the pound even after its official English language name was changed to lira . The euro replaced the Maltese lira as the official currency of Malta on 1 January 2008 at the irrevocable fixed exchange rate of €1 per Lm0.4293 . Emergency issues between 1914 and 1918 were in denominations of 5 and 10 shillings, £ 1, £ 5 and £10. In 1940, notes dated 13 September 1939 in denominations of /- , 5 /- ), 10 /- and £ 1 were issued, followed late in the year by a provisional 1 /- note overprinted on old 2 /- notes dated 20 November 1918. Note production continued after the Second World War in denominations of 10 /- and £ 1 , with £5 notes reintroduced between 1961 and 1963. Banknotes issued by the Government of Malta and then by the Central Bank of Malta were written in English up to 1972, with the denomination written in pounds (or shillings). From 1973 to 1985, they were written in Maltese on the obverse using the denomination liri, and in English on the reverse using pounds. From 1986 to 2007, Maltese and liri were used on both sides.Banknote World - Malta The Maltese lira was replaced by the euro as the official currency of Malta at the irrevocable fixed exchange rate of Lm0.429300 per 1 EUR. However, Maltese lira banknotes and coins continued to have legal tender status and were accepted for cash payments until 31 January 2008. Maltese liri were convertible free of charge at all Maltese credit institutions until 30 March 2008. Maltese coins were convertible at the Central Bank of Malta until 1 February 2010, and banknotes remained convertible until 31 January 2018. The currency entered the ERM II on 2 May 2005, by which its value had to be maintained within a 15\% band around the central parity rate of Lm0.429300 per euro. The Central Bank of Malta and Maltese Government unilaterally decided to keep the actual Lm /euro exchange rate equal to the central parity rate (i.e., doing away with the 15\% band) throughout the ERM II period. The irrevocable fixed conversion rate was established by the ECOFIN on 10 July URL at Lm0.4293 to one euro. Coins 300px|Maltese 2 cent coin, 1976 Decimal coinage was introduced in 1972 (one year after the United Kingdom) in denominations of 2, 3, and 5 mils, 1, 2, 5, 10, and 50 cents. The division of the lira into 100 cents (rather than the 240 pence of the old system) meant that the cent was a relatively large unit - the United Kingdom introduced the decimal penny for this reason. Malta went further in introducing the mil, equal to cent. There was no one-mil coin. However, the coins that were provided (2 ₥ , 3 ₥ , and 5 ₥ ) allowed goods to be priced (and change given) for any number of mils. In 1975, a 25c coin was introduced. A new coinage was issued in 1986 in denominations of 1c, 2c, 5c, 10c, 25c and 50c and Lm1 . A third series was introduced in 1991 due to the change in Malta's coat of arms. The mils were withdrawn in 1994, although for some time only the 5 mils had been seen (and then only rarely). On 15 January 1973, banknotes were introduced, denominated in liri on the obverse and pounds on the reverse, in denominations of ₤M1, ₤M5 and ₤M10 . In 1986, ₤M1 notes were replaced by coins and Lm2 and Lm20 notes were introduced. Banknote Series the Maltese lira Series Symbol Denominations Date of issue 2nd ₤M ₤M1, ₤M5, ₤M10 1973 3rd 1979 4th Lm Lm2, 5, 10, 20 1986 5th 1989
A
or pound (until 1986 in English)
R
The
After 1986 the
R
traditional
original
A
M
D
,
R
because of the past usage of British currency on the islands
even after its official English language name was changed to lira
R
0.4293 lira
Lm0.4293
A
£
A
£
R
10 pounds.
£10.
R
shillings (half crown)
/-
R
shillings (crown
/-
R
shillings and
/- and £
D
pound
R
shilling
/-
D
an
R
shilling
/- notes
R
shillings and
/- and £
R
pound, with 5-pound
, with £5
A
written in
R
0.429300 MTL
Lm0.429300
R
0.429300 LM
Lm0.429300
R
LM
Lm
R
0.4293 lira
Lm0.4293
R
cents
cent
A
₥
A
₥
R
mils
₥
R
25-cent
25c
R
1, 2, 5, 10, 25 and 50 cents and 1 lira
1c, 2c, 5c, 10c, 25c and 50c and Lm1
R
1, 5 and 10 liri
₤M1, ₤M5 and ₤M10
R
1 lira
₤M1
R
2 lira and 20 lira
Lm2 and Lm20
D
Four series had been issuing, designated the second to the fifth series by the Central Bank, with the first series in the pound.
R
5, 10
₤M5, ₤M10