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.
Over a year ago we expanded our IT company and opened a new office in the UK. We have two offices in Europe now; we need to send money abroad very often, from Portugal to the UK and from the UK to Portugal. Knowing how to send money internationally in a safe way is therefore a crucial need for us on a weekly basis.
Comment written by Tiago Goncalves Director of an it Company.
View more testimonials...