2022-09-26
Centenary of the Bank of Lithuania to be marked with Open Day in Kaunas, events in Vilnius and collector coins
This year, the Bank of Lithuania is celebrating the 100th anniversary of its establishment and invites the public to its centenary events in Vilnius and Kaunas between 28 September and 4 October. One of the biggest and most anticipated events is the opportunity to visit the unique building of the Bank of Lithuania in Kaunas, where an Open Day will take place on 1 October.
“Since the beginning of this year, we have been inviting the public to participate in events and exhibitions to mark the anniversary of the Bank of Lithuania. The unique historical building of the Bank of Lithuania in Kaunas has attracted special attention, with a total of 327 tours organised for more than 5,000 visitors. The Kaunas Building Hall has become temporary home for the highly-acclaimed installation “Ex It” by the world-famous artist and activist Yoko Ono. We are proud that the Bank of Lithuania is celebrating this solid anniversary together with the people of Lithuania,” said Gediminas Šimkus, Chairman of the Board of the Bank of Lithuania.
The central bank, which is celebrating its centenary, is organising events in Vilnius and Kaunas. On 28 September, an international exhibition entitled “100 Years: Litas, Lats, Kroon” will be opened at the National Museum of Lithuania in Vilnius to commemorate the anniversary of the Baltic States’ currencies. The exhibition is organised by the National Museum of Lithuania together with the Money Museum of the Bank of Lithuania and their counterparts from Latvia and Estonia. This is the first international exhibition to showcase exhibits from the Money Museum of the Bank of Lithuania (coins, money-making tools and artefacts from the history of Lithuanian banking). The exhibition will be opened in Vilnius on 28 September at 18:00 and will remain on display until 5 February 2023.
On 29 September, representatives of the world’s central banks, international financial institutions, policymakers and academia will gather in Vilnius. They will attend the international conference “Future of Central Banking” at the Palace of the Grand Dukes of Lithuania.
The conference is dedicated to the centenary of the Bank of Lithuania, which is organising the event together with the Bank for International Settlements (BIS), the world’s oldest international financial organisation uniting central banks. The conference will be broadcast online on the Bank of Lithuania’s website.
On 1 October, the Bank of Lithuania will open the doors of its historic building in Kaunas (Maironio g. 25) and invites the public to an Open Day with tours, quizzes and educational activities. The Open Day is a unique opportunity to visit the exclusive building of the Bank of Lithuania in Kaunas. For more information for the Open Day, click here.
On 4 October, the building of the Bank of Lithuania in Kaunas will be ready to host a large number of people interested in the history of banking and money during the scientific conference “The Litas: A Century-Long Way”. It will recall the history of the former national currency, the litas, which is inseparable from the history of the Bank. The conference programme is available here.
To commemorate the centenary of the Bank of Lithuania, collector coins in three denominations – €50 in gold, €20 in silver and €1.50 in copper-nickel alloy – will be issued on 27 September. The coins can be purchased on the Bank of Lithuania e-shop, and, from 27 September, at the Bank of Lithuania cash offices in Vilnius and Kaunas.
On the occasion of the centenary, a virtual 3D tour of the building of the Bank of Lithuania in Kaunas has been created. There are also plans to present the art collection of the central bank to the public and to publish an album entitled “The Art Collection of the Bank of Lithuania”, as well as to prepare a chronicle of the history of the Bank of Lithuania and a second edition of Vladas Terleckas’ book “Money in Lithuania 1915-1944”.
Information on all events dedicated to the centenary of the Bank of Lithuania is available here.
History in brief:
The year 2022 marks the 100th anniversary of the Bank of Lithuania, the central bank of the Republic of Lithuania.
The Bank of Lithuania was re-established on 1 March 1990 and continues the traditions of the inter-war central bank of the Lithuanian state. Plans to establish a bank of issue in Lithuania and to introduce national money began immediately after the restoration of statehood in 1918, but due to the difficult financial situation of the state and unfavourable political circumstances, the Bank of Lithuania did not start its operations until 1922. The laws on the currency unit and the Bank of Lithuania were adopted on 9 and 11 August 1922, the Bank was legally established at the founding shareholders’ meeting on 27 September 1922, and it started its operations on 2 October that same year. The Bank’s founder was the Government. The primary objective of the Bank of Lithuania was to regulate currency circulation, facilitate cash withdrawals, develop a sound and sustainable monetary system, and promote the development of agriculture, industry and trade. The Bank was granted the right to issue banknotes for 20 years, to conduct treasury and savings bank operations, to distribute and redeem Government treasury bills, to issue commercial loans, etc. The first Governor of the Bank of Lithuania was professor Vladas Jurgutis (1885-1966). The impressive building of the Bank of Lithuania on the intersection of Kristijonas Donelaitis and Maironis streets in Kaunas was built at the end of 1928, six years after the establishment of the Bank, designed specifically for the needs of the central bank.
Today, the Bank of Lithuania’s mission is to bring benefits to society. The institution’s core values are value to society, accountability and continuous progress.