Lithuanian Litas

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Lithuanian Litas

The currency of Lithuania. 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.
References in periodicals archive ?
When she was notified of her win, Weinraub said, "I am pleased, honored, and humbled to serve as your next LITA President-Elect.
She heard about the Litas while traveling abroad, and broached the idea to Fernandez, who runs her own digital advertising company, among other corporate pursuits, and Carol Karthe, a swimming coach, polo player and avid adventure rider.
"One of the guys I'm going with went to a travel agents and the girl said that they had hardly any litas left.
In January, domestic credit went up by 13.1 million litas - credit to general government increased by 171.1 million litas, while credit to other residents decreased by 158 million litas.
With a view to preventing abusive practices and dispelling erroneous perceptions of the evolution of prices, prices will have to be displayed in euro and litas until 30 June 2015.
The net flows of portfolio investment inflows stood at 1.5 billion litas and 1.4 billion litas.
Alcoholic beverage import turnover has been affected by the crisis as well, putting it at 416 million litas last year, down from 475 million litas in 2008.
Revenue fell an annual 25 percent to 38.1 billion litas. Earnings at Lithuanian companies are tumbling as domestic demand weakens, wages fall and unemployment rises.
The Finance Ministry said the government received 330 million litas from T-bill auctions, at an average interest rate of 8.07 percent, while private placements totaled 231.5 million litas at a yield of 6.45 percent.
Initially, the local authority planned to spend 2.2 million litas over 9 months for the needy, but has already spent 2.4 million litas.
There are different loan programs for different types of companies, and already hundreds of millions of litas have been disbursed to banks.
VILNIUS -- Lithuanians have begun another run on the litas, changing their savings into euros in fear of a sudden devaluation--a decision that people think could be made by the government and central bank soon.