The unit of currency in Italy (and the rest of Europe) is the euro and centessimo, similar to the US dollar and cent. The coins are as follows: 1 cent, 2 cents, 5 cents, 10 cents, 20 cents, 50 cents, 1 euro, and 2 euro. The bills are as follows: 5 euro, 10 euro, 20 euro, 50 euro, 100 euro, 200 euro and 500 euro.