Litas

The Litas (LTL or Lt, Lithuanian plural form Litai) is the official currency of Lithuania. The first time, currency with this name was issued by Bank of Lithuania on 1922-10-22. It was recalled from circulation in 1941 after Lithuania was annexed by Soviet Union in 1940. Presently litas has been in use since 1993-06-25, when it replaced the temporary currency called Talonas.

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Litas001.png


Value

From 1994-04-01 to 2002-01-31 the Litas was associated with the US dollar at a ratio of 4 to 1. On 2002-02-01 the Litas was then associated with the Euro at 3.4528 to 1 and this should not change until Litas is replaced by Euro (2007 at earliest). Since 28 June 2004 the Litas has been fixed in ERM II [1] (http://www.ecb.int/press/pr/date/2004/html/pr040627_1.en.html), the EU's exchange rate mechanism. Lithuania was party to joining the mechanism since joining the EU.

Characteristics

One Litas is divided into 100 cents. All coins have one side with its value printed and the other side with the national coat of arms.

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Litas002.png
Image:Litas002.png


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Litas003.png
Image:Litas003.png

There are 9 denominations of coins:

  • 1 cent
  • 2 cents
  • 5 cents
  • 10 cents
  • 20 cents
  • 50 cents
  • 1 litas
  • 2 litas
  • 5 litas

There are six denominations of Litas notes:

  • 10 litas
  • 20 litas
  • 50 litas
  • 100 litas
  • 200 litas
  • 500 litas

Previously there were also baknotes of 1 litas, 2 litas and 5 litas instead of coins; these are extremely rare now though.

External Links

Template:PreEuroCurrenciesbe:Летувіскі літ de:Litas fr:Litas it:Lita lt:Litas ja:リタス no:Litauisk litas pl:Lit (waluta) ru:Лит sv:Litas

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