Since 1. Jan 2008 Malta’s currency is Euro. Notes come in denominations of €100, €50, €20, €10 and €5 and the coins in use are €2, €1, € 0.50, € 0.20, € 0.10, € 0.05, € 0.02 and € 0.01. The Old Maltese currency was Maltese Lira (LM or MTL) which was called “pounds” in the country itself. 1 Lira was 100 cents. Coins in use were 1, 2, 5, 10 and 50 cents and 1 Lira and notes, however, came in denominations of 2, 5, 10 and 20 LM.