ITL

English translation: ITL

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13:07 May 1, 2018
Italian to English translations [PRO]
Bus/Financial - Finance (general)
Italian term or phrase: ITL
Bank statement. At the end of the bank statement it says "saldo, Euro 1,300" which I understand, but that is followed by "corrispondenti a 2.603.547 + ITL."
What is the right translation for ITL and how would you present it with the figures? Before or after?

Thanks for your help. Unicorno
isobel Grave
Australia
English translation:ITL
Explanation:
I think it's

ITL = Italian Lira

But the conversion is a bit strange because the EUR = ITL rate was set at 1,936.27 years ago....

You can put it before: ITL 2,603,547

https://www.xe.com/currencyconverter/convert/?Amount=1&From=...

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Note added at 10 hrs (2018-05-01 23:40:49 GMT)
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Re question: I remember when the change took place that it was required by law to specify both ITL and EUR. Could be that some computer forms were updated at the time to include both and then left that way because nobody took the time to remove the ITL later. But the exchange rate is really odd (close, but not precise).
Selected response from:

Patrick Hopkins
Italy
Local time: 10:41
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +1ITL
Patrick Hopkins


  

Answers


10 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
ITL


Explanation:
I think it's

ITL = Italian Lira

But the conversion is a bit strange because the EUR = ITL rate was set at 1,936.27 years ago....

You can put it before: ITL 2,603,547

https://www.xe.com/currencyconverter/convert/?Amount=1&From=...

--------------------------------------------------
Note added at 10 hrs (2018-05-01 23:40:49 GMT)
--------------------------------------------------

Re question: I remember when the change took place that it was required by law to specify both ITL and EUR. Could be that some computer forms were updated at the time to include both and then left that way because nobody took the time to remove the ITL later. But the exchange rate is really odd (close, but not precise).

Patrick Hopkins
Italy
Local time: 10:41
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 67
Notes to answerer
Asker: Thanks Patrick, That is most helpful. But why do they continue to invoke a comparison with the Lira? What's the reason behind it?

Asker: Phil's addition is also very interesting. I should have said the statement in question is a statement from 2011. Thanks to both of you - you've saved the day for me with this one! Unicorno 17


Peer comments on this answer (and responses from the answerer)
agree  philgoddard: Yes, the calculation does seems slightly out - maybe the bank's rate to its customers is less favorable than the official spot rate. And if this is a recent statement, I'm surprised they're still quoting ITL - probably for older customers.
9 mins
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