Currency Information on Lithuanian Litas - LTL — Lithuanian litas – Lt
The litas was first introduced in 1922, when it replaced the ostruble and ostmark, both German currencies, issued during WWI.
When established, the litas was valued at 10 litas = 1 USD. This was a strong currency until it was replaced with the Soviet ruble in 1941 at a rate of 1 litas: 0.9 rubles, even though 1 litas was actually worth 3-5 rubles, the military and party official profited from the undervalued exchange rate.
The litas was reintroduced in 1993, replacing the talonas - a temporary currency – at a ratio of 100 talonas = 1 litas.
Coins are available in denominations of 1, 2, 5, 10, 20 and 50 centu and 1, 2 and 5 litas, where banknotes area available in denominations of 10, 20, 50, 100, 200 and 500 litas.
Given the current crisis in my country, I was forced to move abroad to find a better financial life. I’ve been living and working in a good UK job for two years now. Although my wife and children came with me I send money to my relatives in Greece very often. Every time I do so I make sure I'm getting a good currency exchange deal by checking online how to send money abroad at the best rates.
Comment written by Kostas Skordas Architect.
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