The first question in the mind of Indian travelers who dream of visiting Europe is how the money will be settled there. Especially when it comes to a beautiful and expensive country like Italy, the curiosity about currency increases further. Is the lira still in use there or is it completely a euro period? And if India has one lakh rupees in its pocket, then what is its real strength left after reaching Italy? Let us understand.

What is the official currency of Italy?

The official currency of Italy is the euro, which is identified by the symbol €. From the year 2002, Italy completely discontinued its old currency Italian Lira and adopted the Euro. Since then, Euro is the legal currency in the entire country. Italy is a member of the European Union and being part of the Eurozone, the same currency is used here which is also used in countries like Germany, France and Spain.

What are Euro notes and coins like?

Both Euro notes and coins are in easy circulation in Italy. Notes are of 5, 10, 20, 50, 100, 200 and 500 euros, although the 500 euro note is rarely seen in common transactions. Apart from 1 and 2 euros, there are also cent coins. 1 euro is equal to 100 cents. Use of coins for small expenses is quite common.

India’s 1 lakh rupees is how many Euros in Italy?

Now the most important question is, how many Euros is India’s 1,00,000 rupees equivalent to in Italy? Generally, according to the current exchange rate, 1 Indian Rupee remains around 0.0095 to 0.0098 Euro. If seen at this rate, one lakh Indian rupees is equal to about 950 to 980 euros in Italy. This figure may fluctuate slightly as foreign exchange rates keep changing daily.

Why does the exchange rate keep changing?

Currency exchange rates keep changing due to many reasons. International markets, inflation, interest rates and global economic conditions play an important role in this. Therefore, it is always important to check the latest rates first. Correct information can be obtained from bank, money exchange or online currency converter.

Cost estimate in Italy

If you have around 950 to 980 euros, you can have a limited but comfortable trip in Italy. The cost of hotel, food and local transport depends on the city. Cities such as Rome, Milan and Venice are relatively expensive, while expenses may be slightly lower in smaller cities. With proper planning, a normal journey of 5 to 7 days is possible with this amount.

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