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Malta and the euro

Malta joined the European Union in 2004 and adopted the euro on 1 January 2008.

Malta at a glance

Surface area: 320 km2
Population: 412 614 (Eurostat 2009)
Joined the European Union: 1 May 2004
Currency: Euro since 1 January 2008 (formerly Maltese lira, MTL)

Euro information

Status: Euro-area member since 1 January 2008.

Fixed conversion rate: €1= 0.429300 MTL

Adoption of the euro: Malta chose a 'big bang' scenario, with cash entering use on the same day that the euro officially became the country’s new currency (1 January 2008), and a dual circulation period running until 31 January 2008 during which payments could be made using both Maltese lira notes and coins as well as the euro.

Exchange of former national currency:

  • From 2 January 2008 until the end of March 2008 – at commercial banks, with a limit of MTL 250 for non-banking customers. Exchange of amounts over MTL 250 by bank customers may be subject to two days' prior notice.
  • From 1 April 2007, at the Central Bank of Malta until 1 February 2010 for Maltese lira coins and until 31 January 2018 for Maltese lira banknotes.

Dual display of prices: Display of prices in both euro and Maltese lira is mandatory until 30 June 2008.

Euro helpline 'Linja ewro': 154

Documents and publications

Practical preparations

EU official documents

Publications

Press releases

Opinion polls and surveys:

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