The last full year of the Maltese lira

In a year's time, the Maltese lira will only have a few hours left before starting to disappear from circulation.

In fact, January 31 next year is the last day during which Maltese currency notes and coins will be circulating along with their euro equivalent.

The Maltese will be able to purchase items either in liri or euros this time next year, with change given to them in euros.

The vast majority of Slovenians had only euros in their pocket within 16 days from euro adoption at the start of the year. European Commission figures show that 90 per cent of Slovenians carried just euro banknotes and 82 per cent only had euro coins by January 16. By that day everyone was paying in euros, the data shows. The dual circulation period is necessary to withdraw the national currency notes and coins for circulation. Although lira notes and coins will only be received by shops throughout January 2008, they can still be changed at banks for free up to March 31. Moreover, the Central Bank will keep exchanging coins for two years and banknotes for 10 years after €-day.

The National Euro Changeover Committee is appealing to the public not to exchange lira for euro prior to the changeover.

"Today you will incur exchange charges. There is ample time after €-day to get your Lm cash exchanged to euro notes without any charges," a spokesman said.