Lithuanian litas

1 EUR = 3.4528 LTL (fix)

1 EUR = 3.4528 LTL 1 LTL = 0.28962 EUR

1 CHF = 2.8221 LTL 1 LTL = 0.35435 CHF

The litas is the currency of Lithuania.

On lithuanian is his name:

• 2.1 Mint
• 2.2 commemorative Coins

History

First Republic ( 1922-1941 )

In June 1922, the young Republic of Lithuania launched its own national currency, the Lithuanian litas. He replaced the German Ostmark, who had introduced during the First World War the Germans. The introductory price of the new Lithuanian currency was 10 litas = 1 U.S. dollar. He was too good a third of the money supply in circulation covered in gold. These gold stocks were deposited by the Lithuanian State Bank abroad (England, France, Sweden, Switzerland ). He developed into a very strong currency and traded in 1938 at just under 6 Litas for 1 U.S. dollar. With the annexation of Lithuania to the Soviet Union in June 1940, the litas was replaced by the ruble of the Soviet Union in April 1941, one for the Soviet Union an extremely advantageous price was set by 1 Litas = 0.9 rubles.

The gold reserves abroad remained untouched. However, the Bank of England sold 1967 stored in their gold reserves of the Soviet Union. They were the Republic of Lithuania from 1992 refunded / overwritten.

Second Republic since 1993

Even before the declaration of independence on 11 March 1990, the Lithuanian State Bank was founded back in February 1990 and the introduction of a national currency of the primary objectives of the young republic. After many problems and scandals involving the necessary hedge against currency counterfeiting and the safety of the litas banknotes replaced on June 23, 1993 from the transitional currency Talonas, who had a year replaced the Russian ruble. The exchange rate was 100 Talonas = 1 Litas LTL and 4.5 = U.S. $ 1. After the course had leveled off in the wake at about 4 Lt = 1 U.S. dollar, the litas was tied on 1 April 1994 at the rate of 4:1 fixed to the U.S. dollar. This was done to increase the confidence in the currency and displace the U.S. dollar from the economy. Since 1 August 1993, the litas is the only legal (cash ) Cash in Lithuania.

Litas and Euros

The stated goal of Lithuanian policy is the inclusion of the country in the euro zone. Even prior to the EU accession on 1 May 2004, the binding of the Litas on 2 February 2002 was converted from U.S. dollars at the daily exchange rates of EUR 1 = LTL 3.4528 to the euro. On 28 June 2004, joining the Exchange Rate Mechanism II (ERM II) as a precondition for the planned euro membership. The hoped fastest possible introduction of the euro after two years of membership in the ERM II on 1 January 2007 but failed due to one of the three criteria, the inflation: After the litas was continuously exhibited inflation rates of below 2% since the ruble crisis in 1999, inflation reached due to the booming economy during the reference period ( March 2005-April 2006 ) 2.66%. That was 0.06 percentage points higher than the desired level in the Maastricht Treaty arithmetic mean of the three inflation- poorest euro - member countries plus 1.5 percentage points ( 2.6%). On 16 May 2006 the European Commission not to include Lithuania on 1 January 2007 in the euro zone recommended. The final negative decision precipitated the Council of Ministers of the EU finance ministers at its meeting on 11 July 2006. Practically it was politically a) about keeping a little to the other euro - countries isolated lying country outside before, b ) the emerging changes to be seen in terms of price developments. In fact, inflation has since been increased year by year and in 2009 was about 11%.

Currently, the Lithuanian government is aiming for a euro accession in 2015. A formal application for the second attempt of introducing the euro, Lithuania has not yet been made ​​, however, announced in the spring of 2014.

Mint

Mint is available in denominations of 1 Litas, 2 and 5 Litai and Centas 1, 2, 5 Centai, 10, 20 and 50 Centu.

2 Centai

5 Centai

10 centu

20 centu

50 centu

1 Litas

2 Litai

5 Litai

Commemorative Coins

From the 1 litas coin, there are also commemorative coins:

10th anniversary of the Baltic Way

425th anniversary of Vilnius University

Promoting the recovery of the Grand Ducal Palace,

Certificates

Notes are 10, 20, 50, 100, 200 and 500 litu. The 100 - and 500 - LITU bills there since 2000, the 200 - LITU bills only rarely found since 1997, 1 - litas, 2 -. , Or 5 - Litai bills. This is not a valid means of payment and more can be exchanged only at the Bank of Lithuania. The size of the bills is at all values ​​6.5 x 13.5 cm.

The notes provide the following Lithuanian personalities is: