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Friday, 26.04.2024, 06:20
Governor of Bank of Lithuania urges not to rush to exchange litas to euros
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"I think it has been a long road, it is certainly a historic event," told the chair of the Board of the Bank of Lithuania to journalists during the event Euro Festivities 2014 held by the European Commission and dedicated to Lithuania's accession to the euro area.
The fact that Lithuania has become the member of the euro area, according to Vasiliauskas, means that Lithuania's economy is of good quality. By becoming the member of the euro area, Lithuania also joins the Banking Union.
"Lithuanian people should not be rushing now to exchange litas to euros. Actually, it will be possible to do it after the New Year for free, I recommend putting money into banking accounts and it will take place automatically," said the governor of the Bank of Lithuania.
The irrevocably fixed conversion rate of the litas to the euro has also been approved: EUR 1 = LTL 3. 45280. This ratio is the same as the current official exchange rate between the litas and the euro fixed by the Bank of Lithuania even in February 2002, when the litas was pegged to the euro.
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