ITALY

(EUR) Currency News >>

CURRENCY:

Euro - EUR, Symbol €

DENOMINATIONS:

NOTE: €500, 200, 100, 50, 20, 10 and 5.

COIN: €2 and 1, and 50, 20, 10, 5, 2 and 1 cents.

US DOLLAR ACCEPTED?

CREDIT/DEBIT CARDS AND ATMS:

Most major credit cards are accepted. ATM machines are also widely available.

CURRENCY EXCHANGE:

This can be conducted at banks, stations and some larger hotels. Note that the rates may be less favourable if not organised in advanced.

TRAVELLER'S CHEQUES:

Best in US dollars, Euros or Sterling and are widely accepted.

BANKING HOURS:

Mon-Fri 0830-1600. Note banks close at lunch. Many banks vary their hours, check in advance.

CURRENCY RESTRICTIONS:

COUNTRY OVERVIEW:

Italy is officially called the Italian Republic and is located in Southern Europe. The two islands Sardinia and Sicily also belong to Italy. Within Italy are also two enclaves or independent states within Italy- Vatican City (in the centre of Rome), and San Marino. There is also Campione d'Italia which is an exclave in Switzerland. The university originated in Italy, as did the Renaissance. For centuries, Rome was the center of all Western civilization. The capital is Rome and the official language is Italian.

POPULATION:

Around 60 million.

ECONOMY:

Italy is a developed country and has one of the highest ratings in the world for quality of life. In 2006, it was ranked as having the seventh-largest GDP in the world. There is a difference in the development of the North and South of Italy - the North being more highly developed for industry and the South being dominated by agriculture. Despite there being high freedom to invest and trade, there is reportedly fairly high levels of corruption in comparison with the rest of Europe.