Malta Currency EuroEUR

Currency Overview

Malta’s official currency is the euro (currency code EUR, symbol €), which has been in circulation since January 2008, replacing the higher-denomination Maltese lira. As the 15th EU member state to adopt the euro, Malta’s price levels are mid-range among Western European countries. One euro equals 100 cents and is fully interchangeable across the eurozone—no currency exchange is needed when travelling from Valletta to Paris.

Denominations

Banknotes, issued uniformly across the eurozone by the European Central Bank system, come in common denominations of 5, 10, 20, 50, 100, and 200 euros. Coins are issued in 1, 2, 5, 10, 20, and 50 cents, as well as 1 and 2 euros. Maltese coins feature distinctive reverse designs: 1, 2, and 5-cent coins depict the altar relief of the Mnajdra megalithic temples; 10, 20, and 50-cent coins show the Maltese coat of arms; and 1- and 2-euro coins bear the iconic white-and-red Maltese cross on a white background. These designs are also sought after by coin collectors.

Cash and Payment Habits

Malta has a well-developed card-payment environment, with credit cards widely accepted in restaurants, supermarkets, taxis, and ferries. Local ride-hailing apps (Bolt, eCabs) and online bookings are predominantly cashless. However, old-town snack stalls, pastizzi bakeries, ferry kiosks, and some rural shops still prefer cash, so it’s handy to carry small-denomination bills (€5–20) and coins. Foreign currency can be exchanged at banks and airport kiosks, and ATMs are densely located in urban areas like Valletta and Sliema, with most supporting UnionPay or international cards.

Traveler Tips

• Restaurant bills may include service charges and cover fees (coperta)—check the fine print on menus before ordering.
• Snack stalls and rural markets only accept cash, so keep €5–20 notes handy.
• Holders of other Schengen visas can enter Malta directly without exchanging local currency.
• Some older POS terminals may have limited compatibility with foreign card networks, so carrying backup cash is advisable.

Overview of Malta

Malta (the Republic of Malta) is an archipelagic nation in the central Mediterranean, comprising the main island of Malta, Gozo, Comino, and several minor uninhabited islands. With a land area of just 316 square kilometres and a population of about 520,000, it is the smallest EU member state by area. Located approximately 90 kilometres south of Sicily and 300 kilometres north of the North African coast, it sits at a strategic chokepoint along Mediterranean east–west shipping routes and has been contested by maritime powers since antiquity. The capital, Valletta, is a Baroque fortress city built entirely for defensive purposes and was inscribed as a UNESCO World Heritage Site in 1980.

Malta gained independence from Britain in 1964, became a republic in 1974, joined the EU in 2004, and adopted the euro in 2008. Its official languages are Maltese and English. English is widely used in administration, the judiciary, and education, making Malta one of Europe’s—and the world’s—key destinations for English language study, with numerous international students enrolling in language schools annually.

Geography and Climate

The Maltese archipelago consists of coralline and globigerina limestone, featuring low, undulating terrain with a maximum elevation of just 253 metres. There are no permanent rivers or lakes, and freshwater is sourced from groundwater and desalination. The coastline is rugged and indented, with steep cliffs and rocky beaches as well as scattered sandy coves; the western Dingli Cliffs face the open sea, while the southern coast is riddled with caves, including the famous Blue Grotto. Uninhabited Comino is renowned for its azure shallow bays and the Blue Lagoon.

The climate is typically Mediterranean: long, hot, and dry summers with July averages around 30°C, moderated by sea breezes; mild, wet winters with January averages around 13°C, making it one of Europe’s few year-round travel destinations. Sea temperatures peak from July to September, ideal for swimming and snorkelling, while spring and autumn see brief wildflower blooms and are great for hiking coastal trails.

Historical Background

Malta’s history predates written records: the megalithic temple complexes such as Ġgantija, built around 5,500 years ago, predate the Egyptian pyramids and are UNESCO-listed. The Phoenicians, Carthaginians, and Romans successively ruled the islands, and legend holds that the Apostle Paul shipwrecked here in 60 AD, introducing Christianity. Arab rule from the 9th century laid the linguistic foundation of Maltese, followed by Norman control in 1091 and subsequent generations of Sicilian dynasties.

In 1530, the Holy Roman Emperor granted Malta to the Knights of St. John, who ruled for over 260 years: repelling the Ottoman siege in 1565 and beginning construction of the capital, named after Grand Master Valletta, in 1566. Napoleon occupied Malta in 1798, but British rule lasted over a century starting in 1800. Malta served as a crucial Allied Mediterranean hub in both world wars, earning the George Cross for civilian bravery—a medal now featured on its flag. After independence in 1964, Malta transitioned into a developed economy based on tourism, finance, and maritime services.

Economy and Currency

Malta is a high-income developed economy with key sectors including tourism and related services, financial services, online gambling and gaming, ship registration and transshipment logistics, and more recently, serving as a filming location for maritime TV dramas and films. In January 2008, Malta adopted the euro (EUR, symbol €) as its official currency, replacing the former Maltese lira; its euro coins feature motifs such as the Maltese cross, megalithic temple altars, and the national coat of arms, appealing to collectors.

Culture and Society

A predominantly Catholic nation, Malta has over 300 churches across the islands, with vibrant parish festivals (festa) throughout summer, illuminated by fireworks, brass band parades, and church lights. Maltese, the only Semitic (Arabic-related) language written in Latin script in Europe, incorporates many Italian and English loanwords. The architecture features a uniform honey-coloured limestone backdrop, giving the islands a warm golden hue under sunlight. The cuisine blends Italian and British influences, with rabbit stew considered the national dish and pastizzi (flaky pastry snacks) a ubiquitous treat.

Tourism Overview

Malta’s biggest tourism advantage lies in its density: within an hour’s drive, visitors can explore Valletta’s Baroque churches and Knights’ palaces, the historic harbours of The Three Cities, Mdina’s medieval streets, the Blue Grotto and megalithic temples of the southern coast, and the resort scenery of Gozo and Comino’s Blue Lagoon. Following the 2017 collapse of the iconic Azure Window sea arch on Gozo, the surrounding inland sea and coastline remain popular photography spots. With its English-speaking environment, sunny beaches, diving, and island-hopping opportunities, Malta caters to cultural, beach, and language-learning travellers alike, making it a prime choice for European winter and off-season trips.