The Bank of Lithuania has signed a contract on the printing of new litas banknotes

“Stocks on certain denominations of litas banknotes are running low therefore they need to be replenished. The Germans must fulfil our order by the spring of the next year. The design of the new 20 litas denomination banknotes will remain the same as that of the currently used banknotes but their security will be enhanced. The design and security level of 200 litas denomination banknotes will not change”, commented Chairman of the Board of the Bank of Lithuania Reinoldijus Sarkinas after signing the contract on the printing of litas banknotes.

On 29 June 2006, the Board of the Bank of Lithuania decided to place an order for the production of 60 million pieces of 20 litas denomination banknotes of a new 2007 issue and 20 million pieces of 200 litas denomination banknotes of 1997 issue. The company to produce the banknotes, “Giesecke & Devrient GmbH” printed the 50, 200 and 500 litas denomination banknotes in circulation.

The first issue of 200 litas banknotes was produced in 1997; the banknotes were put into circulation on November 24^th that year. With the increase of currency outside the Bank of Lithuania, 200 litas banknotes became popular soon. Banknotes of this denomination have been in great demand for loading ATMs with banknotes.

The 20 litas denomination banknote issues of a different design and gradually increasing security level were put into circulation in 1991, 1993, 1997 and 2001. The level of counterfeiting of Lithuanian banknotes is relatively low; however the 20 litas denomination banknote has probably been the most counterfeited one over the three recent years. Therefore the security of banknotes of this denomination will be increased.