Coins of the Maltese lira Coins of the Maltese lira Coins of the Maltese lira have been struck from when Malta adopted decimal currency in 1972, to 2007, after which Malta adopted the euro. There were 10 mils in one cent, and 100 cents in one Maltese lira. The coins in this series replaced the pre-decimal Pound Sterling which had been in use in Malta since 1825. Therefore, the sizes for some coins were similar to their pre-decimal equivalents, for example the 5c was similar to the shilling and the 10c to the two shillings. These coins were designed by Christopher Ironside OBE. In June
Currency 5 khoums, while the Malagasy ariary is theoretically divided into 5 iraimbilanja. In these countries, words like "dollar" or "pound" "were simply names for given weights of gold." Due to inflation khoums and iraimbilanja have in practice fallen into disuse. (See non-decimal currencies for other historic currencies with non-decimal divisions.) Convertibility of a currency determines the ability of an individual, corporate or government to convert its local currency to another currency or vice versa with or without central bank/government intervention. Based on the above restrictions or free and readily conversion features, currencies are classified as: In economics, a local currency