Italian Lira (Noun)
Meaning
Formerly the basic unit of money in Italy; equal to 100 centesimi.
Classification
Nouns denoting quantities and units of measure.
Examples
- The Italian lira was the official currency of Italy until it was replaced by the euro in 2002.
- Tourists often had to exchange their dollars for Italian lira when traveling to Italy before the adoption of the euro.
- In the 1990s, a cup of espresso typically cost around 1,000 Italian lira.
- Before the euro, Italian lira was the standard unit of exchange for all business transactions in Italy.
- When Italy joined the European Union, the Italian lira was eventually phased out in favor of the euro.