The Euro (Symbol = €) is now the official Italian currency and in the 12 nations that comprise the European Union.   These 12 nations are: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, and Spain.   Notably, the United Kingdom has not adopted the Euro.  They are still using the Pound. 

The Euro has replaced the Lira (Symbol = £) since January 1, 2002, after an implementation period which began in 1999.  To aid in the transition, sometimes you will still see prices quoted in the Lira equivalent (1 Euro = 1936.27 Lira), along with the Euro price.  However, it is more of a convenience, or for information purposes to assist people with the transition.  The European Union also accepted the old currency up through February 28, 2002 to further assist in the transition. 

The new currency consists of 7 bank notes: 5, 10, 20, 50, 100, 200 and 500 Euro (dollars). 

The eight coins are 1, 2, 5, 10, 20 and 50 Euro cents plus a 1 Euro (dollar) and 2 Euro (dollars).   The "heads" side of the coin will display a common European Community symbol.   However, the "tails" side of the coin will have a design unique to each country in the union.  

100 Euro Cents = 1 Euro Dollar