The currency of the Republic of Lithuania is currently the euro. The previous currency of the Republic of Lithuania was the litas until January 1, 2015.
Exchanging the litas in euros
With the introduction of the euro in Lithuania, a fixed exchange rate was set. 3.45280 litas can be exchanged for one euro.
Until June 30, 2015, the coins could be exchanged for euros at all banks. Some banks will still exchange the banknotes for euros until December 31, 2015. Thereafter, coins and banknotes can be exchanged for an unlimited time at the National Central Bank of Lithuania.
The litas ISO code is LTL, The abbreviation and the symbol of the litas is Lt. The rate of the litas pegged to the euro on February 2, 2002. Since then, one euro has been equivalent to 3.4528 litas.
History of the Lithuanian currency
The history of the litas follows the eventful history of the country. After the Republic of Lithuania became independent after the First World War, in June 1922 the litas replaced the German Ostmark, which had been the official currency in Lithuania until then. The exchange rate was 10 litas = 1 US dollar when it was introduced and rose to 6: 1 until 1938.
In 1940 Lithuania was annexed by the Soviet Union. The following year, the ruble replaced the litas as the official currency in Lithuania. After the collapse of the Soviet Union and Lithuania’s declaration of independence on March 11, 1990, the second republic sought to reintroduce its own currency.
In 1992 a transitional currency, the Talonas, was introduced. On June 23, 1993, the litas replaced the transitional currency at the rate of 100 talonas = 1 litas. The first rate was set at 4.5 litas = 1 US dollar, on April 1, 1994 Lithuania then fixed the exchange rate at 4 litas to 1 US dollar.
Since Lithuania wanted to join the euro, the litas became on February 2, 2002 at the rate of 1 euro = 3.4528 litastied to the euro. Despite joining the EU in May 2004, Lithuania has not been allowed to introduce the euro to this day.
Exchange in litas
With the help of the currency calculator you can determine how many litas you get when exchanging for euros. Exchange rate changes are not to be taken into account because of the link to the euro.
Because of the fixed exchange rate, it doesn’t matter whether you exchange money here or in Lithuania. However, only a few banks in Germany have litas in stock, so if you want to swap here, you should pre-order. Otherwise the use of major credit cards is recommended.