What is the currency used in Malta and foreign currency exchange

What is the currency used in Malta and foreign currency exchange
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The only currency used in the Maltese islands is the Euro, which was adopted on 1 January 2008 after the country joined the European Union on 1 May 2004.

Before the Euro was introduced in Malta, the currency in circulation was the Maltese Lira (Lm).

Malta’s Euro coins

Although Euro bank notes are universal across all Eurozone countries, a unique set of coins is issued for each country. The Maltese Euro coins feature the following depictions on the back face of each coin:

  • 1, 2 and 5 Cents: The entrance of the Tarxien (Megalithic) Temples, a hallmark of Malta’s far-stretching history
  • 10, 20 and 50 Cents: The coat of arms of Malta
  • 1 and 2 Euro: The Maltese cross, which is a symbol often associated with the Republic of Malta but was introduced to the country by the Knights of Malta.

The Euro is the currency used in Malta.

Currency exchange in Malta

Foreign currency can easily be exchanged to Euro in various locations across Malta, mostly through bank branches and financial services providers.

Although GBP and USD are the most popularly exchanged currencies, in some places you’ll be able to exchange AUD, CAD, CHF as well.

These are a few options in some of the more popular locations in Malta and Gozo:

  • Malta International Airport: Arrivals (offered by HSBC bank (automated), located to your left as you exit baggage collection)
  • Valletta:
    • Fexserv (towards the lower end of Republic Street)
    • W&J Coppini & Co (58, Merchants Street)
  • Buġibba: (53c, Islet Promenade – at the main square)
  • St. Julian’s:
    • Fexserv (66A, St. George’s Road)
    • W&J Coppini & Co (6, Triq Ross – opposite Portomaso tower)
  • Sliema: W&J Coppini & Co (144, Tower Road – near the Preluna Hotel)
  • Victoria, Gozo: Fexserv (40C, Palm Street, Victoria)

Currency conversion

You can get a rough idea of what the exchange rates are like by using the below currency converter. Always keep in mind, however, that at local Bureaux de Change fees or slightly less favourable currency rates will be applied.

Convert your currency to Euro

Other payment methods widely accepted

If you prefer not carrying around too much cash, rest assured that these payment methods are widely accepted in Malta (in most shops and restaurants, as well as hotels):

  • VISA Debit and credit cards
  • MasterCard credit cards
  • American Express credit cards
  • Diner’s Club credit cards
  • Maestro debit cards

You can also use these debit/credit cards to withdraw Euro currency through a wide network of ATMs provided by local banks such as HSBC, BOV, APS and BNF Bank. Depending on your card charges may apply for withdrawing cash through a foreign ATM.

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