Lithuanian litas facts for kids

10 litas banknote (1922)

The Lithuanian litas (in Lithuanian: Litas) was the official money of Lithuania. It was used as Lithuania's national currency for many years. The litas first became the money of Lithuania in 1922. After some time, it was brought back again in 1993. The litas was used until 2015, when Lithuania joined the Eurozone and started using the euro.

When the litas was in use, there were different coins and banknotes. Coins came in values like 1, 2, 5, 10, and 50 cents, as well as 1, 2, and 5 litas. Banknotes were available in larger values, such as 10, 20, 50, 100, 200, and 500 litas.

What Was the Litas?

The litas was the main form of money in Lithuania for a long time. It helped people buy things, sell goods, and manage their finances. Every country has its own special money, and for Lithuania, this was the litas.

Key Facts About the Litas

Here are some important details about the Lithuanian litas:

• Official Code: The international code for the litas was LTL. This code helped identify it around the world.
• Smaller Units: One litas was divided into 100 smaller parts, called cents (or centas in Lithuanian). This is similar to how one dollar is divided into 100 cents.
• Symbol: The symbol used for the litas was Lt.
• Central Bank: The Bank of Lithuania was the main bank responsible for printing and managing the litas. They made sure there was enough money for everyone and kept the economy stable.

When Was the Litas Used?

The litas had two main periods of use in Lithuania's history.

First Period: 1922 to 1941

The litas was first introduced in 1922. This happened after Lithuania became an independent country following World War I. Having its own money was a very important step for the new nation. It showed that Lithuania was truly independent and could manage its own economy. The litas was used during this time until 1941.

Second Period: 1993 to 2015

After a period when Lithuania was part of the Soviet Union, it regained its independence in 1990. To show its new freedom and build its own economy, Lithuania brought back the litas in 1993. This was a big moment for the country. The litas remained the official currency until 2015. In 2015, Lithuania joined the Eurozone, a group of European countries that use the euro as their common currency. At this point, the litas was replaced by the euro.

Images for kids

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  Interwar 10 litų coin, showing Vytautas the Great

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  Lithuanian litas coins

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  Official litas and U.S. dollar exchange rate from June 1993 to March 1994

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  Early litas banknotes