THE EURO COMES TO LITHUANIA

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In August 8, 2014
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Source: The Official Website of ECB  *Our Money*

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.

Lithuania will be the last of the three Baltic States to adopt the euro, after Estonia (2011) and Latvia (2014) and the 19th member of the currency union from the start of 2015.

The central bank of Lithuania will exchange litas banknotes and coins at the fixed exchange rate in unlimited amounts for an indefinite period.

The 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.

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