Euro adoption

A survey of small and medium-sized businesses commissioned by Lithuania's Central Credit Union (LCKU) and carried out by Spinter Tyrimai has shown that 43 percent of respondents think that the euro adoption will be beneficial for long-term business development.

The press service of the Lithuanian prime minister has announced that on the night of 1 January Prime Minister Algirdas Butkevičius, together with his Estonian counterpart Taavi Rõivas and Latvian Foreign Minister Edgars Rinkēvičs, will make the withdrawal of the first banknotes of the new Lithuania...

The Bank of Lithuania has organised seminars for 1,200 cash handlers from postal, financial services and trade enterprises related to the upcoming euro adoption. The participants went on to transfer their knowledge about the single currency of the European Union to their colleagues all across Lithua...

January 1, 2014, will mark one year since Latvia replaced its national currency, the lats, with the euro. Looking back at this important event, one can conclude that hopes of the euro kickstarting a rapid increase of inflow of investments in Latvia and membership in the euro zone making Latvia more ...

The ranks of euro supporters in Lithuania, which will adopt the single currency next month, have swelled to 63 percent, the recent Eurobarometer survey has shown.

With just slightly more than two weeks to go before Lithuania adopts the euro, different opinion polls show different results for how people feel about the new currency.

Fifty-three percent of the Lithuanian population are in favour of the upcoming euro adoption, according to a representative survey conducted in mid-November and released by the Bank of Lithuania on Monday.

At the stroke of midnight on New Year’s Day 2015 the bell will toll, heralding the start of a new year and a new era for Lithuania. Yet the fireworks and jubilation will play out against a backdrop of sadness as Lithuania’s national currency, the litas, dies a death.

The number of violations related to dual display of prices in the litas and the euro has been decreasing, which shows that Lithuania has duly prepared for the currency changeover, Justice Minister has said.

As expected, the upcoming introduction of the euro has brought much new business to wallet sellers. As the euro notes are bigger in size than the litas notes they are replacing on 1 January, around 10-20 percent more wallets were bought in the first week of December 2014 compared with the same perio...

Current average annual inflation in Lithuania is at its lowest since 2010, according to financial experts, a situation that is particularly favourable to the currency changeover.

Ahead of Lithuania's accession to the euro zone and transition to the euro, Latvian chocolate factory Laima has produced a new end-year souvenir - 80,000 units of a chocolate bar branded Dvidešimt Litų (Twenty Litas), this way honouring the outgoing national currency of Lithuania, marketing manager ...

The construction of the world's largest pyramid made of one million Lithuanian cent coins was finished at the Bank of Lithuania's Money Museum in Vilnius on Saturday.

On 31 December, the last day of 2014, interbank payments in the litas will be carried out only until 1 PM - at that time execution of payments will be stopped in the Bank of Lithuania systems that are used by banks. Interbank payment orders for the same day operations will be accepted until 12 PM 31...

In less than three weeks after the Euro Exhibition opened in Vilnius, the number of its visitors has exceeded 10,000.

The third and final shipment of euro banknotes was flown from Germany to Lithuania on Wednesday.

Starting in January, 330 post offices across the country will exchange cash litas to euros free of charge for a period of 60 days. To handle the extra workload, Lithuania Post will hire 75 employees throughout the country, the company said.

The second shipment of euro banknotes was delivered to Lithuania on Wednesday.

Residents of Lithuania are more worried about growing prices after the euro adoption than Latvians and Estonians were.

The European Central Bank (ECB) has set minimum reserve requirements for banks in Lithuania, the Bank said on Friday.