Definition

Noun: 1. The former basic monetary unit of Italy: The Italian lira was the official currency of Italy before the country adopted the euro. It was subdivided into 100 centesimi.

Usage

• The word "Italian lira" is a proper noun and is typically capitalized.
• It is used in historical and financial contexts to discuss the economy, prices, or transactions in Italy before 2002.
• It is often preceded by an amount or a symbol (₤ or L.).

Examples

• Noun:
  • In 1990, a cup of coffee cost about 1,500 Italian lira.
  • The old man kept a 1,000 lira note as a souvenir from his youth.
  • Italy replaced the Italian lira with the euro in 2002.

Advanced Usage

• "Lira" as a standalone term: In historical context, "lira" can sometimes be used alone when "Italian" is clear from the context. However, "Italian lira" is the precise term, as other countries like Turkey and Malta also used or use a currency called the lira.
  • Before the euro, prices in Rome were quoted in lira.

Variants and Related Words

• Lira (n): The general term for the monetary unit, used by several countries.
• Centesimo (n): A subunit of the Italian lira, equal to 1/100 of a lira. (Plural: ).
• Euro (n): The currency that replaced the Italian lira in Italy.

Synonyms

• Former Italian currency
• ₤ (symbol)
• ITL (ISO 4217 currency code)

Related Phrases

• To convert lira to euros: To change the value from the old currency to the new one.
  • We had to convert our remaining lira to euros at the bank.
• Lira-denominated: Priced or valued in Italian lira.
  • The contract was lira-denominated, so its value changed with the currency.

Noun

1. formerly the basic unit of money in Italy; equal to 100 centesimi