Home / Press Releases / Lithuanians are getting used to euro cash

Lithuanians are getting used to euro cash

The euro changeover in Lithuania is reaching its final stage. Once the dual circulation period will come to an end on 15 January 2015, cash payments may no longer be made in Lithuanian litas. Pursuant to a Commission survey, most cash payments in shops were made entirely in euro and all customers received their change in the new currency on 7 January[1].

Banks, post offices and retailers are reported to cope well with the changeover process and the parallel handling of two currencies. Euro cash is gradually becoming predominant in Lithuanians’ pockets. On 7 January, about every second person polled confirmed to have mostly or only euro cash in the wallet.

Monitoring of compliance with the requirements for price display, proper conversion at the official conversion rate (3.45280 litas to one euro) and the correct implementation of the “Memorandum on Good Business Practice upon the Introduction of the Euro” is coordinated by the State Consumer Rights Protection Authority and involves various institutions such as the State Food and Veterinary Service and the State Non-Food Products Inspectorate. Most of the violations identified so far consisted in prices not being displayed in two currencies and rounding mistakes. Questions and complaints are handled diligently by the competent authorities.

For more information on the Lithuanian changeover see:

http://ec.europa.eu/economy_finance/articles/euro/2015-01-01-lithuania-getting-euro_en.htm

Lithuania’s national changeover website:

http://www.euras.lt

For more information on the euro see:

http://ec.europa.eu/economy_finance/euro/index_en.htm

[1] Flash Eurobarometer 410 Questions asked on 7 January 2015.

Leave a Reply

x

Check Also

Shri M.Venkaiah Naidu gifts PM Surakhsa Bima Yojana policies to 10,000 women on the occasion of Rakshandhan

Minister of Urban Development Shri M.Venkaiah Naidu gifted Accident Insurance Policies to ...

PM greets the people of Malaysia, on their Independence Day

Delhi  August 31, 2015 Last Updated at 12:20 IST http://mybs.in/2Rxq7ot Copy tiny ...