MTL (Maltese Lira)

AAA

DEFINITION of 'MTL (Maltese Lira)'

The currency abbreviation for the Maltese lira (MTL), the currency for Malta from 1972 until December of 2007. The Maltese lira was made up of 100 cents or 1,000 mils, although mils stopped circulating in 1994. The Maltese lira was often presented with the symbol Lm or £ (used locally), and was sometimes referred to as the Maltese pound in English.

Malta adopted the Euro in January 2008.

INVESTOPEDIA EXPLAINS 'MTL (Maltese Lira)'

Malta gained its independence from England in 1964, but until 1972 the British pound continued to circulate. In 1971, when the United Kingdom decimalized, Malta did not follow suit, and instead created its own decimal system based on the lira. From 1973 until 1986 both the pound and lira circulated, after which the lira circulated exclusively.

RELATED TERMS
  1. Currency

    A generally accepted form of money, including coins and paper ...
  2. Forex - FX

    The market in which currencies are traded. The forex market is ...
  3. Quote Currency

    The second currency quoted in a currency pair in forex. In a ...
  4. Base Currency

    The first currency quoted in a currency pair on forex. It is ...
  5. Currency Pair

    The quotation and pricing structure of the currencies traded ...
  6. Forex Futures

    An exchange-traded contract to buy or sell a specified amount ...
Related Articles
  1. Currency Exchange: Floating Rate Vs. ...
    Forex Education

    Currency Exchange: Floating Rate Vs. ...

  2. End of Fed's Bond-Buying Program: 7 ...
    Bonds & Fixed Income

    End of Fed's Bond-Buying Program: 7 ...

  3. Stores Where You Can Buy Things With ...
    Investing Basics

    Stores Where You Can Buy Things With ...

  4. 4 Currency ETFs On The Move
    Chart Advisor

    4 Currency ETFs On The Move

Hot Definitions
  1. Wage-Price Spiral

    A macroeconomic theory to explain the cause-and-effect relationship between rising wages and rising prices, or inflation. ...
  2. Accelerated Depreciation

    Any method of depreciation used for accounting or income tax purposes that allows greater deductions in the earlier years ...
  3. Call Risk

    The risk, faced by a holder of a callable bond, that a bond issuer will take advantage of the callable bond feature and redeem ...
  4. Parity Price

    When the price of an asset is directly linked to another price. Examples of parity price are: 1. Convertibles - the price ...
  5. Earnings Multiplier

    An adjustment made to a company's P/E ratio that takes into account current interest rates. The earnings multiplier is used ...
  6. Macroeconomics

    The field of economics that studies the behavior of the aggregate economy. Macroeconomics examines economy-wide phenomena ...
Trading Center