The seemingly common Monday of 2 October 1922 was destined to become one of the most important dates in the history of modern Lithuania, as it marked the launch of Lithuania’s national monetary system. The litas currency was put into circulation and its supervision was entrusted to an entirely new institution – the Bank of Lithuania.
Although the centenary of the Bank of Lithuania seems to refer to a century-long history of the institution, there were two milestones in the history of the Central Bank of Lithuania – the old one, whose history lasted from 2 October 1922 to 3 October 1940, and the modern bank that was re-established on 1 March 1990. Both are linked by the same idea of the centre of the Lithuanian financial system, the continuity of which was interrupted for half a century by the Soviet occupation that led to fundamental differences in the structure and the nature of operations between the interwar Bank of Issue and the modern Bank of Lithuania.
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