TMCnet News

Bank of Lithuania-Lithuania's population will be directly informed on the irrevocable litas and euro exchange rate
[July 23, 2014]

Bank of Lithuania-Lithuania's population will be directly informed on the irrevocable litas and euro exchange rate


(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 23 July 2014 Release date- 22072014 - Tomorrow, on 23 July, when the Council of the European Union will reach a final decision on the adoption of the euro in Lithuania, the country's population will be informed on the irrevocably fixed conversion rate of the litas and the euro via an SMS message.



According to data from mobile operators, during this campaign, which has no precedent, messages on the most important aspects of the euro adoption should reach almost 2.7 million subscribers.

The Bank of Lithuania signed in March of this year an agreement with the country's major mobile operators BITE Lietuva, Omnitel and Tele2 on socially responsible collaboration in informing the public on the euro adoption. In total, the Bank of Lithuania plans to send mobile users two SMS on the key aspects of euro adoption. The first will be sent out tomorrow, immediately after the decision of the EU Council, while the second will reach the public in December.


The first message will inform the public on the irrevocably fixed litas and euro exchange rate. According to it, from 1 January 2015 litas will be converted to euro, wages, pensions, social benefits, tariffs, prices and other important amounts will be recalculated. Even though the decision on the litas and euro exchange rate will be reached tomorrow by the EU Council, the Bank of Lithuania believes that there is no basis for the exchange rate to be different that the current official exchange rate of the litas against the euro.

In the first message from the Bank of Lithuania to the public, information will be provided on how litas will be converted to euro free of charge only from 1 January 2015. It will be emphasised that cash litas will be exchanged to euro free of charge only at banks, branches of Lithuania Post, several credit unions and the Bank of Lithuania. The public will also be warned that currency exchange elsewhere, such as at home or on the street, may be related to fraud. In case of suspected fraud, the police should be contacted immediately.

The SMS will also indicate where information can be found if any additional, euro-related questions would arise. Since spring, a free of charge euro phone line has been operating in Lithuania - 8 800 34528. Detailed information is available on the euro website (www.euras.lt).

Seeking to avoid inconvenience for users, BITE Lietuva, Omnitel and Tele2 plan to send SMS only on business days (from 9:00 to 20:00) In addition, mobile operators will send messages only to those subscribers who did not express a desire to not receive messages from third-parties. Seeking to send out the planned number of messages, mobile operators might need a few days.

The second Bank of Lithuania message, as was mentioned, will be sent in December. In it the Lithuanian public will be informed on how long the dual circulation period will last after the euro adoption. That same message should also inform where safe exchange of litas to euro may be performed.

(c) 2014 Electronic News Publishing -

[ Back To TMCnet.com's Homepage ]