Tallero Currency of Eritrea

11 Sep 2020  Fri

The state of Eritrea country lies in the Horn of Africa. It is bordered by Ethiopia in the south, Sudan in the west, and Djibouti in the southeast.

Tallero was the currency of Eritrea between 1890 and 1921 was subdivided into 5 lire. Each lira was equivalent to 100 centesimi. The lira was equivalent to the Italian lira.

Italian colonial authorities issued banknotes of lire denomination in 1885. The silver Tallero was similar to the Maria Theresa Thaler was introduced in 1890. Along with Tallero, 50 centesimi, 1, and 2 lire coins were also introduced.

The Maria Theresa Thaler (MTT) is a silver bullion coin named after Empress Maria Theresa, who ruled Austria, Hungary, and Bohemia from 1740 to 1780.

The last Tallero was minted in 1918. The Tallero was abandoned in 1921. Till 1938, Italian currency was circulated alone until banknotes were issued in lire.

Image Courtesy: Wikipedia.com

Knowledge Base