International award for financial market development
On 14 June 2023, Lietuvos bankas and its Newcomer Programme received an award from Central Banking for its contribution to global financial innovation.
Centenary of Lietuvos bankas
The year 2022 marked 100 years since the start of operations of Lietuvos bankas. To commemorate this anniversary, Lietuvos bankas organised exhibitions, educational events, conferences, and open-door events. Special collector coins were also issued to mark the occasion.

Launch of CENTROlink
In November 2017, the upgraded CENTROlink – a payment system of Lietuvos bankas – turned a new page in Lithuania’s history of payment services.
Lithuania joins SEPA
On 1 January 2016, Lithuania joined the Single Euro Payments Area (SEPA).
Visit by the ECB President
On 25 September 2014, Mario Draghi, President of the European Central Bank, visited Lietuvos bankas.

This was his first visit to Lithuania. Mr Draghi took part in ‘The Euro in Lithuania: One Market, One Currency, Common Future’, a conference organised in Vilnius and dedicated to the euro adoption, where he presented Vitas Vasiliauskas, Chairman of the Board of Lietuvos bankas, with a symbolic euro star, which is traditionally gifted to the central bank of a country joining the euro area.
Visit by the Managing Director of the IMF
On 18 July 2013, Christine Lagarde, Managing Director of the International Monetary Fund, visited Vilnius.

She met with Members of the Board of the Bank of Lithuania and shared insights at ‘European Economic Integration: Stock Taking of Challenges and Possibilities’, a round-table discussion organised by Lietuvos bankas.
New operating model
On 2 January 2012, Lietuvos bankas implemented a new financial markets supervision model, establishing the Supervision Service to focus on the supervision of financial institutions and settlement of disputes between consumers and financial institutions. Previously, financial institutions were supervised by three state institutions.
Joining TARGET2
On 19 November 2007, Lietuvos bankas, together with seven other central banks, joined TARGET2, the Eurosystem’s payment system, which began operating on the same day. This allowed Lithuania’s financial institutions to make real-time settlements in euro.
Vitas Vasiliauskas appointed Chair of the Board
On 24 March 2011, Vitas Vasiliauskas was appointed as Chair of the Board of Lietuvos bankas.
Litas pegged to the euro
On 2 February 2002, the anchor currency of the litas became the euro. The official exchange rate of the litas was set at LTL 3.4528 to EUR 1.
Reinoldijus Šarkinas appointed Chair of the Board
On 15 February 1996, Reinoldijus Šarkinas was appointed as Chair of the Board of Lietuvos bankas.
New Law on Lietuvos bankas
On 1 December 1994, the Seimas of the Republic of Lithuania passed a new Law on Lietuvos bankas.
Litas pegged to the US dollar
In 1994, under the Republic of Lithuania Law on the Credibility of the Litas, the litas was pegged to the US dollar at the fixed exchange rate of 4:1. The law also stipulated that the litas issued by Lietuvos bankas would be backed by 100% gold and convertible currency reserves.

Such a decision was taken seeking to ensure relative price stability in the longer period.
Photo by Eugenijus Strioga from Lietuvos bankas' Money Museum publication 'Money in Photography' (2002).
Kazys Ratkevičius appointed Chair of the Board
On 17 November 1993, Kazys Ratkevičius was appointed as Chair of the Board of Lietuvos bankas.
Romualdas Visokavičius appointed Chair of the Board
On 23 March 1993, Romualdas Visokavičius was appointed Chair of the Board of Lietuvos bankas.
IMF membership
On 29 April 1992, Lithuania joined the International Monetary Fund.
Creation of the national currency system
On 1 October 1992, the national monetary unit, the talonas, became the only legal tender in Lithuania. The circulation of roubles was discontinued.
Vilius Baldišis appointed Chair of the Board
On 31 July 1990, Vilius Baldišis was appointed as Chair of the Board of Lietuvos bankas.
Bronius Povilaitis appointed Chair of the Board
On 13 March 1990, Bronius Povilaitis was appointed as Chair of the Board of Lietuvos bankas.
Establishment of Lietuvos bankas
Lietuvos bankas was established on 1 March 1990, continuing the traditions of the central bank that had operated in the interwar period.

The present Lietuvos bankas continues the traditions of the central bank that had operated in the inter-war period. Despite harsh conditions, Lietuvos bankas opened its doors right after the re-establishment of Independence. The Soviet Union declared an economic blockade against Lithuania and used various means of oppression, including disruption of payments. It was necessary to receive financing, form the bank’s structure, bring together experts, find a building and communications equipment, and create the necessary legal environment for activities.
Nationalisation of Lietuvos bankas
The Act of Nationalisation of Lietuvos bankas was approved on 1 August 1940.
Establishment of a mint
A mint was established in Kaunas, and litas coins began to be minted in Lithuania.
Lietuvos bankas as a member of the BIS
Lietuvos bankas became a member of the Bank for International Settlements (BIS), located in Basel (Switzerland).
Issue of 1000 litas banknotes
On 23 February 1926, 1000 litas banknotes were issued into circulation. 1000 litas was the largest denomination in Lithuania’s monetary history.
Issue of 500 litas banknotes
On 28 September 1925, 500 litas banknotes were issued into circulation.
Issue of 10 and 50 litas banknotes
10 litas banknotes were issued into circulation in February 1923, and 50 litas banknotes were issued in March.