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The first Lithuanian euro coins are being delivered to the Bank of Lithuania’s vault

August 12, 2014

The first batch of Lithuanian euro coins are being delivered to the Bank of Lithuania’s vault in Vilnius. On 1 January 2015 they will be issued into circulation. The total amount of coins necessary for the euro adoption and to ensure reserves is about 370 million units; their weight — 1,740 tonnes.

“This is one more important step in the marathon of preparatory work, seeking for the currency exchange to go smoothly. After the decision of the EU Council on allowing Lithuania to adopt the euro, the Lithuanian Mint is minting euro coins at full capacity; they are being delivered to the Bank of Lithuania’s vault. From here, as of 1 October, they will we delivered to commercial banks and, prior to the euro adoption date, the coins will reach business,” says Vitas Vasiliauskas, Chairman of the Board of the Bank of Lithuania.

In transferring the euro and euro cent coins, particular attention is paid to security: the Bank of Lithuania’s armoured transport is used, accompanied by armed guards and police. The coins are transported in special containers.

The Bank of Lithuania and the Police Department under the Ministry of Internal Affairs in April of this year agreed to cooperate in ensuring secure transfer of the euro and litas banknotes and coins.

The agreement provided that both institutions will cooperate in transferring the bank’s material assets in the territory of the Republic of Lithuania, how necessary information on ensuring the security of the assets will be exchanged. Also it was agreed on the use of a common radio channel.





Photos by Dainius Labutis, ELTA