From today until the end of February, Eesti Pank will join other central banks of the euro area in exchanging Lithuanian litas banknotes for euros at the central rate with no charge to offer support for Lithuania as it joins the euro area.

On 1 January 2015 Lithuania joined the euro area and from that date the euro was adopted in place of the Lithuanian litas at the exchange rate of 1 euro = 3.45280 litas. Eesti Pank will exchange litas at the central exchange rate and with no service fee in the museum of Eesti Pank during its opening hours. The daily limit per person and per transaction is 1000 euros. Lithuanian coins will not be exchanged in Eesti Pank.

“It is a long-standing tradition that all the central banks of the euro area exchange the former national currencies of new members for euros for two months after the new members join. Estonia was given the same sort of support when we joined the euro area and so was Latvia. From March it will only be possible to exchange litas at the central rate in Lithuania”, said Rait Roosve, Head of the Cash and Infrastructure Department at Eesti Pank.

Litas banknotes and coins can be exchanged at the central rate in bank offices in Lithuania until the end of June next year and in 330 Lithuanian post offices until the end of March. Some banks will exchange litas banknotes until 31 December 2015. From 1 January the Lithuanian central bank will exchange litas for euros at the central rate with no limits on amounts or on time.

Litas in current accounts in Lithuanian banks will be automatically converted to euros at the central rate without any service fee.

The litas will continue to serve as legal tender for two weeks following the changeover to the euro but from 16 January the euro will be the only legal tender in Lithuania.

Estonian kroon notes and coins can still be exchanged in the Eesti Pank museum at the rate of 1 euro = 15.6466 kroons. This service is free.

The Eesti Pank Museum is open from Tuesdays to Fridays 12-17 and on Saturdays at 11-16.

Additional information:
Shop of the museum of Eesti Pank: +372 668 0650
Eesti Pank information line: +372 668 0719

Hanna Jürgenson
Public Relations Office
Eesti Pank
Eurosystem
Tel: +372 668 0959, +372 529 7285
Email: [email protected]
Press enquiries: [email protected]