Lithuania (since 1 January 2015)
Lithuania joined the euro area on 1 January 2015. On that day the euro replaced the litas at the fixed exchange rate of €1= LTL 3.45280. The irrevocably fixed exchange rate is €1= LTL 3.45280.
Exchanging Lithuanian litas
At post offices, credit unions and banks
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.
At Lietuvos bankas
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
At other euro area national central banks
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.
- EU Council approved Lithuania’s admission to euro area.
- Minting of Lithuanian euro coins started.
- Prices in Lithuania began to be shown in both litas and euro until 30 June 2015. “Fair euro introducer” campaign.
- Transfer of euro coins from Lietuvos bankas to commercial banks started.
- Transfer of euro banknotes from Lietuvos bankas to commercial banks started.
- Transfer of euro banknotes and coins from commercial banks to businesses, retailers and cash machine operators started.
- Coin starter kits, each containing the eight denominations, went on sale at Lietuvos bankas and commercial banks. They were also available at post offices from 4 December 2014.
Euro introductionEuro banknotes and coins started circulating and bank accounts were converted into euro.
- For two weeks, to smooth the transition, both currencies - litas and euro - are in circulation and can be used for payments.
- Euro banknotes and coins become sole legal tender.
- Exchanging litas for euro free of charge
- Deadline for exchanging litas banknotes and coins at post offices and some credit unions.
- Deadline for exchanging litas coins at commercial banks and litas banknotes at most commercial banks.
- Deadline for exchanging litas banknotes at the remaining commercial banks.
- No deadline
- Litas banknotes and coins can be exchanged at Lietuvos bankas indefinitely.
Euro information campaign
The European Central Bank (ECB) and Lietuvos bankas are carrying out a joint Euro information campaign including:
- publications on euro banknotes and coins and the cash changeover; In particular, each household in Lithuania received a leaflet entitled ‘Are you ready?’;
- a mass media campaign based on two short films for TV and online use in English and Lithuanian on the cash changeover and how to check euro banknotes and coins. The campaign also includes print, outdoor and online advertising;
- a high-level Euro Conference that took place on 25 September 2014;
- the Euro Exhibition at the Palace of the Grand Dukes of Lithuania in Vilnius
Let's join forces: the Partnership Programme
Lietuvos bankas and the European Central Bank invited businesses and organisations to join forces with them to spread information about the euro in Lithuania. As a “partner”, they had access to information and materials 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.