2014-07-23
A clock in Vilnius city centre will begin counting down the time left until the euro adoption
When the Council of the European Union reached the final decision on the euro adoption in Lithuania, in Vilnius, Gediminas avenue, over the doors of the Bank of Lithuania, a special clock began to count down the time left until the historical date — 1 January 2015, when the euro will become Lithuania’s currency.
“Attention to colleagues in Vilnius that watch our event! Now it is time to launch the clock starting the countdown to the euro in Lithuania,” said Vitas Vasiliauskas, Chairman of the Bank of Lithuania, during his speech in Brussels in a special event for euro introduction. With those words the clock in Vilnius was turned on.
Lietuvos Bankas photo
The electronic clock indicates the days, hours, minutes and seconds remaining until the euro adoption day in Lithuania. The clock also shows information on the irrevocable litas and euro exchange rate: LTL 3.45280 for EUR 1. Applying this exchange rate, from 1 January 2015 litas will be converted to euro, wages, pensions, social benefits, tariffs, prices and other important amounts will be recalculated.
Photo by Martynas Ambrazas, ELTA
Photo by Martynas Ambrazas, ELTA
With the euro adoption nearing, the clock will also announce to the public other important information on currency exchange.
For information on the euro adoption, the public may call the free phone line 8 800 34528, and information on the euro may be found on the euro website (www.euras.lt).
After the euro adoption, for the first 15 days payments may be done both in cash litas and euro, while from 16 January 2015 the only means of payment will be the euro. In accounts, litas will be converted to euro free of charge and automatically on 1 January 2015.
The Bank of Lithuania reminds the public that it will be possible to convert the litas to euro free of charge only from 1 January 2015. Currency may also be exchanged securely and free of charge only at banks, branches of Lithuania post, several credit unions and the Bank of Lithuania. Currency exchange elsewhere, such as at home or on the street, may be related to fraud. In case of suspected fraud, the police should be contacted immediately.
Lithuania will be the 19th EU Member State which has adopted the euro.