New ISO Code Announcement - Lithuania

[Markinsa]

15 Aug 2014

ISO 4217 Amendment Number 159  

Effective from 1 January 2015, the following change will be made to "Table A.1 – Currency and funds code list"

Entity Currency Alphabetic code Numeric code Minor unit LITHUANIA Euro EUR 978 2

 

Effective from 1 January 2015, the following change will be made to "Table A.3 – Codes for historic denominations of currencies and funds"

Entity Currency Alphabetic code Numeric code Minor unit LITHUANIA Lithuanian Litas LTL 440 2

 

The exchange rate is fixed at EUR 1.00 = LTL 3.45280

The Lithuanian Litas (LTL) will expire and no longer be accepted as legal tender from 1 January 2015. The Bank of Lithuania will exchange the Lithuanian Litas banknotes and coins by euro banknotes and coins for an indefinite period of time.

Bank accounts will be converted into euro on 1 January 2015. From that date, bank transfers and card payments can only be made in euro. There is a 15 days parallel circulation period, during which time Lithuanian Litas and euro will equally be a valid means of payment (Litas will be accepted for cash payments only).
 

Minor corrections for following entity names to align with ISO 3166 (country codes):

CAPE VERDE amended to:
CABO VERDE

Cape Verde Escudo amended to:
Cabo Verde Escudo
[The alphabetic (CVE) and numeric code (132) remain the same.]

 

 

 

[dontlop]

Did they change the value or just convert to euros

It looks like just a new member of the euro community

Those Europeans really want to have a socialized world i guess

[Markinsa]

Did they change the value or just convert to euros

It looks like just a new member of the euro community

Those Europeans really want to have a socialized world i guess

 

The Lithuanian Litas (LTL) will expire and no longer be accepted as legal tender from 1 January 2015. The Bank of Lithuania will exchange the Lithuanian Litas banknotes and coins by euro banknotes and coins for an indefinite period of time.

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[dontlop]

Ya that's the interesting part of the article

I remember reading about the Kuwait dinar when they exchanged their currency after they kicked the Iraqis out

They had a two year exchange period - but- you could cash in your old Kuwait dinar for ten years at the cash window of the Kuwait central bank

You can still exchange in your Turkish lira today from 2005

[Goldiegirl]

Lots of notice and lots of time to exchange. Wonder if anyone else will do that?

[yota691]

«Central Lithuania» euro currency depends official

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Date Published: Friday, August 22, 2014

Lithuanian central bank announced yesterday that it helps the country in preparation for the adoption of the euro as the official currency of Lithuania starting from the first of January next year to become the state No. 19 in the European single currency bloc.

The central bank added that Lithuania had borrowed 132 million of it in cash and paper to complete the process of converting its official currency of the previous currency «Lita» to the euro.

The head of the Central Bank of Vitus Vasilyauskas: «We lend Lithuania now banknotes needed for the process of adopting the euro currency will restore these securities in 2016», pointing out that it is scheduled for delivery this banknotes by next December.

 

[sandfly]

THANKS

[Markinsa]

http://dinarvets.com/forums/index.php?/topic/184516-new-iso-code-announcement-lithuania/?view=getnewpost&fromsearch=1

[vietnam1969]

I wonder if any other countries will follow?  We just need Iraq to get off their high horse and do something in a soonly matter. 

[outlawclg]

Lots of notice and lots of time to exchange. Wonder if anyone else will do that?

I hope we have lots of time to exchange,  I bet we don't get near as much "notice" though.