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 The Italian lira (L), unique as it was for its tiny value and romantic
appeal, is now a thing of the past. The currency used in Italy is now the euro, the same currency used throughout almost all of Europe.
The euro comes in denominations of: 5, 10, 20, 50,
100, 200 & 500 euro notes, and 1, 2, 5, 10, 20 & 50 cent and 1 & 2
euro coins.
Each country prints its own euro notes and mints its own
euro coins. In fact, each country has it's own design on one side of each
note or coin. (All countries' coins and notes share a common side.) But no
matter what country's euros you have in your pocket, they are the same size,
they are worth exactly the same in value, and they can be used in all
euro-based countries. Including Italia!
The euro is now about equal to 1.50 US dollar (last
updated January 2010). If it's 100 euros, it's about $150.
Good news, you won't have to convert much: It is best to pay for big things
in Italy using your credit card or your debit card because the
exchange is calculated for you and the exchange rate is always among the
best available. Before leaving the USA have at least enough euro cash with
you for a cab ride or phone call. (Just in case?) You can convert any more
cash you may want either in the US or in Europe, but it's best to do it at a
bank where exchange rates and fees are the most reasonable. Only convert a
minimum of cash at your US airport or at your Italian hotel. The rates there
are not particularly good. And on you return trip, remember to convert back
to dollars at a bank too. (And plan to have enough dollars when you return
to bail your car out of the airport lot or pay the cabbie!)
Traveler's checks can be useful if you don't have
a credit card. For convenience, buy them already denominated in euros before
you leave.
In Italy, banks are usually open Monday through
Friday (and Saturday mornings), and are closed on public holidays. ATMs are
available in many places, but check with your US bank to make sure they are
part of a European ATM network. Credit cards are accepted throughout Italy
and, in many cases, offer a very good exchange rate. Have some euros in cash
on hand for making small purchases, such as snacks and souvenirs from street
vendors.
© 2006-2010 Tangoitalia.com.
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