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Money Exchange

The currency in Italy is the Euro, which replaced the former national currency, the lira, in 2000. The euro circulates in bills of 5, 10, 20, 50, 100, 200, 500 and coins of 1, 2, 5, 10 euros, and 1,2,5,10,20 and 50 cents. The high denomination bills of 200 and 500, athough standard legal tender are not always accepted easily in smaller establishments and for smaller transactions.
Euros can be purchased for dollars, sterling and all other major currencies at banks, ATM machines and exchange shops, called Ufficio di Cambio.

Travellers Cheques
The daily rate of exchange used for changing travellers cheques is the rate shown in the newspapers. Cheques are accepted in tourist areas and the bigger cities at shops, hotels, airports and main railway stations and authorised tourist offices.

Credit and Debit Cards
Local currency can be drawn from Automatic Teller Machines (ATM) known in Italy as Bancomat. The machines work in the major European languages and respond to the major symbols such as Visa, Cirrus, and Bankmate etc.

Banks and Banking Hours
During the week, Monday to Friday, banks are open from 08.35 to 13.35 and again 15.00 to 16.00, varying depending on the city. In many tourist areas the banks do not shut from 13.35 to 15.00. Saturdays and Sundays and National Holidays the banks are closed.

There are no restrictions on the quantity of foreign currency or of foreign exchange instruments that can be brought into Italy, but foreign exchange transactions need to be made through authorised intermediaries.

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