On 23 July 2014 the Council of the European Union approved Lithuania’s request to join the euro area on 1 January 2015. The irrevocably fixed exchange rate is €1= LTL 3.45280.
There will be a two-week period when both currencies are in circulation, with change normally provided in euro. The litas will cease to be legal tender on 16 January 2015.
Litas banknotes and coins can be exchanged at 330 post offices and some credit unions in Lithuania at the fixed exchange rate, free of charge, until 1 March 2015. They can be exchanged at all banks until 30 June 2015. Certain banks will continue to exchange litas banknotes until 31 December 2015.
The central bank will exchange litas banknotes and coins at the fixed exchange rate in unlimited amounts for an indefinite period. This service is also free of charge.Addresses for Lietuvos bankas
Other euro area national central banks will exchange litas banknotes, free of charge, at the fixed exchange rate from 1 January to 28 February 2015. The amount that can be exchanged is limited to €1,000 for any given party/transaction on any one day.
The European Central Bank (ECB) and Lietuvos bankas have prepared a joint Euro information campaign. It included:
The Partnership Programme provided communication materials to businesses and organisations liked to pass on information about the euro cash changeover.
Lietuvos bankas and the European Central Bank invited these businesses and organisations to join forces with them to spread information about the euro in Lithuania. As a “partner”, they had access to information on the euro that they could pass on to their customers, clients, members and employees. This was a good way to ensure that all the stakeholders had accurate and timely information from reliable sources.
Details on the conditions of participation could be requested at firstname.lastname@example.org.