The official currency used in Italy is the euro, distributed in the form of banknotes and coins. The euro replaced the lira in January 2002. Italy was one of the first European nations to adopt the new common currency of European Union member states.
Euro banknotes are identical throughout the European Union, regardless of which country is using them. They are available in paper notes ranging in value from €5 to €500. Euro coins are different in that the design is country-specific on one side. In Italy, euro coins depict famous authors, artists, paintings and emperors. All euro currency from Italy can be used throughout the European Union.