Lithuania to adopt euro on 1 January 2015

The Council today adopted a decision allowing Lithuania to adopt the euro as its currency. The decision will enlarge the euro area to 19 member states, including all three Baltic states, and give Lithuania over five months to prepare for the changeover. The Council also adopted regulations setting a permanent conversion rate for the Lithuanian litas to the euro, and adapting certain technical provisions. The conversion rate is set at 3.45280 Lithuanian litas to the euro, which corresponds to the current central rate of the litas in the EU's exchange rate mechanism. Euro notes and coins will be issued in Lithuania on 1 January 2015.




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