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The ISO 4217 currency code for the Lithuanian Litas.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
ISO 4217 code for the Lithuanian litas. It was introduced in 1993, replacing the talonas, which was itself a temporary currency to replace the Soviet ruble. Between 1994 and 2002 the litas was pegged to the U.S. dollar. Since then, it has been pegged to the euro in preparation for Lithuania joining the eurozone. While the Lithuanian government hoped to replace the litas with the euro in 2010, high inflation has pushed the date back to 2013.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved