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Today we have a very complete catalogue shared by the Bank of Lithuania (Lietuvos Bankas) in which it shows us all the commemorative and collector coins issued between 1993 and 2023. Until 2014 its currency was the Lita and since 2015 it has become part of the single European currency, the Euro.Before leaving you with the aforementioned catalogue, we will briefly review what was its currency until very recently, and what it is today.
The Lita
The lita was introduced in Lithuania in 1922 following Lithuania's declaration of independence from the German occupation forces. The lita was again the official currency of Lithuania from 25 June 1993.
The introduction of the lita for the second time was prepared even before Lithuania gained independence from the Soviet Union. The Bank of Lithuania was established on March 1, 1990, 10 days before Lithuania declared its independence. In 1991, the Litas Committee was established to prepare the replacement of the Soviet ruble and determine the exchange rate. The reason for waiting until 1993 was mainly to allow a period for the country's economy to stabilize after independence and thus not expose the lita to a relatively high inflation rate, in addition to the need to raise back-up funds for the lita.
The introduction of the lita for the second time was prepared even before Lithuania gained independence from the Soviet Union. The Bank of Lithuania was established on March 1, 1990, 10 days before Lithuania declared its independence. In 1991, the Litas Committee was established to prepare the replacement of the Soviet ruble and determine the exchange rate. The reason for waiting until 1993 was mainly to allow a period for the country's economy to stabilize after independence and thus not expose the lita to a relatively high inflation rate, in addition to the need to raise back-up funds for the lita.
The Euro
Lithuania became the 19th country to adopt the Euro on 1 January 2015. This small country, with less than three million inhabitants, was originally scheduled to join the Eurozone on 1 January 2007, then in 2010 and then in 2013. All these dates had to be postponed as it did not meet the so-called convergence criteria agreed in the Maastricht Treaty in 1992.
Catalog
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