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Your essential source of information on
the Malta Currency (Maltese Lira) currency
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Important update: As of January 1st
2008, Malta has adopted the Euro.
Currency regime until 31/12/2007
The Maltese lira joined the ERM2
exchange rate mechanism at the beginning of May 2005. The lira's central rate
against the Euro has been set at 0.429300. In theory, the lira can trade within
a range of 15% either side of the central parity, although movement is likely to
be much narrower than this.
The lira will have to stay within
this band for at least two years before entry into European Monetary Union can
The Lira (LM) is the unit of currency and is divided into 100 cents; each
cent is again divided into 10 mils. There is no limit to the amount of foreign
currency visitors may bring into Malta, providing it is declared upon arrival.
However, the maximum amount of Maltese currency that may be brought into Malta
is Lm 50. Visitors may take out of Malta any unspent foreign currency but no
more than Lm 25 in Maltese currency.