Italy uses the euro (€), abbreviated as EUR, as its official currency. The euro has been Italy's currency since January 1, 2002, when it replaced the Italian lira, which was the currency used from 1861 until 2002
. The euro is also used by 19 other European countries, making it convenient for travel within Europe
. Euro banknotes come in denominations of 5, 10, 20, 50, 100, 200, and 500 euros, although the 200 and 500 euro notes are rarely used. Coins are available in 1 and 2 euros, and cents coins in 1, 2, 5, 10, 20, and 50 cents
. In Italy, prices are commonly shown with the euro symbol (€), and cash is still widely used, especially in smaller shops where credit cards may not be accepted
. The Italian lira ceased to be legal tender after February 28, 2002, and is no longer exchangeable for euros since 2012
