Currency raised saves pence a month (5)
I believe the answer is:
april
'a month' is the definition.
(I know that 4. month is a type of calendar month)
'currency raised saves pence' is the wordplay.
'currency' becomes 'lira' (I've seen this before).
'raised' is a reversal indicator (going up in a down clue).
'saves' means one lot of letters goes inside another.
'pence' becomes 'p'.
'lira' written backwards gives 'aril'.
'aril' placed around 'p' is 'APRIL'.
(Other definitions for april that I've seen before include "Start of the second quarter" , "Girl" , "First month of the year with 30 days" , "Fourth month" , "Thirty days in spring" .)