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Lithuanian Litas
The Lithuanian litas (ISO currency code LTL, symbolized as Lt; plural litai (nominative) or litų (genitive)) is the currency of Lithuania. It is divided into 100 centų (genitive case; singular centas, nominative plural centai). The litas was first introduced in 1922 after World War I, when Lithuania declared independence and was reintroduced on June 25, 1993, following a period of currency exchange from the ruble to the litas with the temporary talonas then in place. The name was modeled after the name of the country (similarly to Latvia and its lats). From 1994 to 2002, the litas was pegged to the U.S. dollar at the rate of 4 to 1. Currently the litas is pegged to the euro at the rate of 3.4528 to 1. The euro was expected to replace the litas by January 1, 2010, but due to the current rate of inflation and the economic crisis, this date will be delayed for another four years until 1 January 2014.
ISO 4217 codeLTL
Central bankBank of Lithuania
Websitewww.lb.lt
User(s)Lithuania
ERM Since28 June 2004
Fixed rate since2 February 2002
€ =3.45280 litai
Bandpegged in practice, 15% de jure
Subunit 1/100centas
SymbolLt (Litas), ct (Centas)
Coins1, 2, 5, 10, 20, 50 centų, 1, 2, 5 litai
Banknotes10, 20, 50, 100, 200, 500 litų
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