Since 1.1.2008 the Euro is the currency in use in Malta.
From that date there is a fixed exchange rate of LM 0.4293 per 1 EUR.
The local currency till 31.12.2007 was the lira (LM); Each lira was divided into 100 cents and each cent into 10 Mils::
Metal Coins: 50, 25, 10, 5, 2, 1 cents and a coin of LM 1
Paper Bills: The lira appeared in denominations of LM 2, 5, 10 and 20
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