|20 Maltese lira|
|Currency of Malta 20 Maltese lira|
Malta currency Lm 20 Maltese lira banknote 1986 Central Bank of MaltaMaltese banknotes, Maltese paper money, Maltese bank notes, Malta banknotes, Malta paper money, Malta bank notes.
Obverse: Portrait of Miss Agatha Barbara - 3rd President of the Republic of Malta, the old traditional Maltese sailing ship "Xambekk" (1743) at center.
Reverse: Auberge de Castille, the monument dedicated to the Maltese worker in Msida and Grandmaster's Palace (Valletta, Malta) - seat of Parliament and President of Malta.
Watermark: Allegorical Head of Malta - Melita.
Printer: Thomas De La Rue & Company Limited, London England.
Malta banknotes - Malta paper moneyIn 1986, the Central Bank of Malta issued the fourth series of currency notes, which included denominations of Lm2, Lm5, Lm10 and Lm20, of which the Lm2 and Lm20 note were new denominations. The Lm1 note was not re-issued at this time as it was set to be replaced by the Lm1 coin.
The notes, printed by Thomas De La Rue & Co. Ltd, portrayed the President of the Republic at the time, and for the first time, featured the word ‘Lira’ on its own without its accompanying English version, the Pound. In fact, the £ was no longer used and the capital letter ‘L’ was introduced instead. Following an amendment by Act XIII of 1983, the unit of currency in Malta became legally known as the Lira Maltija, with its corresponding symbol, Lm.
In March 1988, an amendment to the Central Bank of Malta Act was passed through which the designs on currency notes issued by the Bank could not portray any person who was still alive at the time.
The pound or lira (Maltese: lira Maltija, plural: liri, ISO 4217 code : MTL) was the currency of Malta until 31 December 2007. The lira was abbreviated as Lm, although the traditional ₤ sign was often used locally. In English, the Maltese currency was referred to as the pound originally and for many locals this usage continued.
On entry into the European Union, Malta agreed to adopt the euro. The lira was replaced by the euro on 1 January 2008, as part of the Economic and Monetary Union of the European Union.
The Maltese lira was replaced by the euro as the official currency of Malta at the irrevocable fixed exchange rate of 0.429300 MTL per 1 EUR. However, Maltese lira banknotes and coins continued to have legal tender status and were accepted for cash payments until 31 January 2008. Maltese liri were convertible free of charge at all Maltese credit institutions until 30 March 2008. Maltese coins were convertible at the Central Bank of Malta until 1 February 2010, and banknotes until 31 January 2018.